## Fiscal Policy for the Crisis

_Policy Papers, December 29, 2008_

## Source details

**Canonical URL:** [Fiscal Policy for the Crisis](https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-for-the-crisis-pp4307)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-for-the-crisis-pp4307/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-for-the-crisis-pp4307/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-for-the-crisis-pp4307/bundle-manifest.json)

## Bibliographic details
- Published: December 29, 2008
- Series: Policy Papers
- Stock No: ISBN

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### Summary
- The current crisis calls for two main sets of policy measures:
  - Measures to repair the financial system.
  - Measures to increase demand and restore confidence.
- While some measures overlap, the focus of this note is on the second set of policies, and more specifically, given the limited room for monetary policy, on fiscal policy.

### Findings and emphasis
- Primary policy emphasis: fiscal policy to increase demand and restore confidence when monetary policy has limited room.
- Secondary but necessary policy area: repair of the financial system (acknowledged as distinct but overlapping).

### Policy themes and subject coverage
- Corporate taxes
- Financial crisis
- Financial systems
- Fiscal policy
- Fiscal sustainability
- Government expenditures
- Tax reductions

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## Content in this bundle

- **_spn0801 — Executive Summary**
  - [_spn0801 — Executive Summary (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/spn/2008/_spn0801.pdf.md){rel="alternate" type="text/markdown"}
  - [_spn0801 — Executive Summary (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/spn/2008/_spn0801.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-policy-for-the-crisis-pp4307_