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Lockdown Economics: Fiscal Policy during Pandemic Crises

May-2020 by Arvind Virmani

There is a widespread misunderstanding of the economic nature of the lockdown and the effects of monetary and fiscal policy during a lockdown. This note attempts to clarify the different elements, so that correct policies can be devised, with reference to Indian lockdown. However, the analytical approach and several conclusions are equally applicable to other countries which have imposed a lock down or Social confinement of citizens in their homes.

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