The paper finds that there is an intimate relationship between the monetary / fiscal policy mix and the dynamics of both private sector and public sector debt accumulation. (bankofcanada.ca)
A more balanced policy mix might also avoid some of the costs of very low interest rates, such as potential risks to financial stability, without sacrificing jobs and growth. (news-to-use.com)
But the current policy mix is particularly problematic when interest rates are very low, as is the case today. (news-to-use.com)