An excerpt from the Byte Size Economics:
"In a 2020 Harvard Business Review article, multiple economists and members of the private financial industry discuss the economic fallout of COVID-19 while also providing some potential solutions to these issues, writing that, naturally “a vaccine would reduce the need for social distancing and thus relax the policy’s chokehold on the global economy” while noting that, from an economic perspective, “policy innovation also will have to occur. For example, central banks operate so-called “discount windows” that provide unlimited short-term finance to ensure liquidity problems don’t break the banking system. What is needed now, today, is a “real economy discount window” that can also deliver unlimited liquidity to sound households and firms. The emerging policy landscape includes many worthwhile ideas. Among those are “bridge loans” that offer zero-interest loans to households and firms for the duration of the crisis and a generous repayment period; a moratorium on mortgage payments for residential and commercial borrowers; or using bank regulators to lean on banks to provide finance and to rework terms on existing loans.”
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