Would you recommend the ECB to continue the purchase of public sector securities (PEPP program) during the debt reduction phase? Please give a brief explanation. The Covid-19 pandemic started toward the end of 2019 in Asia and spread around the world in 2020. Faced with rising infections, hospitalizations and deaths, governments imposed lockdowns and restrictions. This assignment asks you to assess the macroeconomic effects of fiscal policies undertaken by Euro Area governments during the pandemic. It also asks you to analyze alternative policies for reducing the public debt accumulated during the Covid-19 pandemic.

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Would you recommend the ECB to continue the purchase of public sector securities (PEPP program) during the debt reduction phase? Please give a brief explanatio Would you recommend the ECB to start raising interest rates during the debt reduction phase? Please give a brief explanation.