Fiscal Policy for the Crisis (Spilimbergo, Symansky, Blanchard and Cottarelli)

IMF published "Fiscal Policy for the Crisis", as IMF Staff Position Note, 29/12/2008. The focus of this note is that the current crisis calls for policy measures to increase demand and restore confidence, "… specifically, given the limited room for monetary policy, on fiscal policy. The optimal fiscal package shoud be timely, large, lasting, diversified, contingent, collective, and sustainable".