Virus is a catalyst for a fiscal reboot worldwide

I’m not sure how much MMT would help because no amount of stimulus will increase aggregate demand in a public health crisis.

On the supply side, I don’t see where the labor force for infrastructure stimulus would be found since (at least for now) the economies of Japan, Europe and especially America are at essentially full employment.

When, not if, this viral contagion spirals into an economic contagion, I fear traditional policy tools will be utterly ineffective.