A decade after the onset of the global financial crisis, it seems more than appropriate for central bankers to move the levers of policy off their emergency settings. A world in recovery – no matter how anemic it may be – does not require a crisis-like approach to monetary policy.
praises central banks' recent interest-rate moves, but argues that officials must move faster.
Since 1960, only a few countries in Latin America have narrowed the gap between their per capita income and that of the United States, while most of the region has lagged far behind. Making up for lost ground will require a coordinated effort, involving both technocratic tinkering and bold political leadership.
explain what it will take finally to achieve economic convergence with advanced economies.
Between now and the end of this decade, climate-related investments need to increase by orders of magnitude to keep the world on track toward achieving even more ambitious targets by mid-century. Fortunately, if done right, such investments could usher in an entirely new and better economy.
explains what it will take to mobilize capital for the net-zero transition worldwide.
华盛顿—2008年金融危机后的多年中,决策者因为避免了第二次大萧条而为自己“点赞”。他们用当时做需要的凯恩斯主义财政和货币刺激应对全球衰退。
但九年过去后,官方利率仍在零水平线上徘徊,而增长则一直平庸。自2008年以来,欧盟平均年增长率只有0.9%。
在危机后立即形成的广泛的凯恩斯主义共识已经成为当今流行的经济教条:只要增长保持萎靡,年通货膨胀率保持不到2%的水平,那么加大刺激不但是合适的,更是必须的。
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