财政紧缩下的增长?

华盛顿——法国新任总统弗朗索瓦·奥朗德提倡施行更多促进经济增长的政策,德国政府对此的回应是,欧元区的紧缩项目不能做任何改变。不过,促进增长的配套措施,如,欧洲投资银行提供更多贷款或是发行联合担保债券来给具体的投资提供资金,这些政策可以“添加”到紧缩项目里。

许多德国的内部和外界人士都宣称,财政紧缩和更多的增长都是必要的,而且重视增长并不意味着在削弱紧缩政策。正在上演欧元区危机主要集中在欧洲,但是紧缩和增长的论战如何在那里收场,这关系到更多的国家,包括美国。

 有三个重点需要明确。第一,在失业和产能过剩普遍存在的情形下,短期的产量则主要是由需求而不是由供给决定。在欧元区的成员国中,只有财政政策是国家级的,可以有各国自己决定,因为欧洲银行控制着货币政策。所以,是的,更直接的增长确实需要缓慢地减少财政赤字。

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