Stimulus Debate (Giavazzi)

The “stimulus debate” and the golden rule of mountain climbing by Francesco Giavazzi on VoxEU.The global macroeconomy is at a juncture; some economists argue for continued fiscal stimulus to avoid a double dip recession while others argue for fiscal prudence. In this column, one of the world’s leading macroeconomists argues for continued stimulus combined with a plan to ensure long-run sustainability by reforming the funding of pension liabilities.http://migre.me/12PS0