While carbon pricing and industrial policies may have enabled policymakers in the United States and Europe to avoid difficult political choices, we cannot rely on these tools to achieve crucial climate goals. Climate policies must move away from focusing on green taxes and subsidies and enter the age of politics.
explains why achieving climate goals requires a broader combination of sector-specific policy instruments.
The long-standing economic consensus that interest rates would remain low indefinitely, making debt cost-free, is no longer tenable. Even if inflation declines, soaring debt levels, deglobalization, and populist pressures will keep rates higher for the next decade than they were in the decade following the 2008 financial crisis.
thinks that policymakers and economists must reassess their beliefs in light of current market realities.
华盛顿—我曾经是一位大学教授,后来担任印度政府首席经济顾问,长期以来,我愉快地使用着世界银行全球贫困数据,追踪趋势,分析跨国模式。我很少停下来想一想这些数字是怎么计算出来的。后来,三年前,我成为世界银行首席经济学家。这种感觉就像你原先是一位在最喜欢的饭店预定晚宴的快乐客户,突然之间被要求进入厨房准备晚宴。
衡量贫困这个责任对世界银行来说是一项挑战。如果贫困减少,批评者会指责我们是在炫功。如果贫苦增加,他们又说我们在“刷存在感”。如果贫困保持不变,那么我们就会同时受到这两种批评。
幸运的是,知道不论结果如何都会被批评倒也让你觉得有些自由。但是,在我们的团队即将定义今年的全球贫困线(从而确定贫困率)之际,我强烈地感到今年诺贝尔经济学奖获得者安格斯·迪顿的谨慎观点:“我不知道世界银行花这么大力气搞这项工作是否明智。”
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