The world economy is slowing, both structurally and cyclically. How might policy respond? With desperate improvisations, no doubt. Negative interest rates have already moved from the unthinkable to reality. The next step is likely to include fiscal expansion. Indeed, this is what the OECD, long an enthusiast for fiscal austerity, recommends in its Interim Economic Outlook. But that is unlikely to be the end. With fiscal expansion might go direct monetary support, including the most radical policy of all: the “helicopter drops” of money recommended by the late Milton Friedman.
世界manbetx20客户端下载 正在放缓——既是结构性的，也是周期性的。政策或将会如何应对？毫无疑问，只能依靠不顾一切临时拼凑出的各种措施。负利率早已从天方夜谭变为现实。下一步很可能要实施财政扩张。实际上，这正是经合组织(OECD)——财政紧缩政策的长期拥护者——在其《年中manbetx20客户端下载 展望》(Interim Economic Outlook)中给出的建议。但这可能还不算完，在推出扩张性财政政策的同时，可能还会出台直接的资金支持，包括所有政策之中最激进的政策——已故manbetx20客户端下载 学家米尔顿•弗里德曼(Milton Friedman)建议的“直升机撒钱”(helicopter drops)。