货币政策

Rules are made to be broken
Lex专栏:规矩是用来打破的?


在解决发达国家债务问题上,规则最终将由市场制定,而政治家与央行官员将不得不遵守。

Governments the world over used to boast of their fiscal prudence, even though a five-year-old could have balanced the books during the credit boom. But any discipline flew out the window as soon as economic growth stalled (even earlier for some countries in Europe). And now that the US budget deficit is 10 per cent of gross domestic product, Ben Bernanke, chairman of the Federal Reserve, suggests that a fiscal rule might help.

世界各地的政府过去常常夸耀自己财政审慎,尽管5岁的孩子都能在信贷繁荣期实现收支平衡。但一旦manbetx20客户端下载 增长停滞,一切规则就都被抛出窗外(欧洲一些国家甚至更早)。如今,美国的预算赤字已达到国内生产总值(GDP)的10%,美联储(Fed)主席本•伯南克(Ben Bernanke)提出,制订财政法规或许能有所帮助。

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