Christine Lagarde at G20 2016 Li Xin/ Xinhua via ZUMA Wire

全球经济的隐秘恢复力

牛津—上周,国际货币基金组织(IMF)总裁拉加德警告说,如果各国不能合作行动,全球经济可能脱轨。类似地,经合组织警告说,各国必须“迅速”且“集体”地行动起来以提振全球增长前景。但作为吁求对象的G-20财政部长和央行行长们并没能在上海的最新会议上达成任何行动协议。

诚然,上海会议之后发布的公报中包括了承诺“分别和集体使用所有政策工具——不管是货币工具、财政工具还是结构性工具”以“提振信心和保持复苏势头”。但公报也体现出一致同意这一协议的财政部长和央行行长们之间存在深刻的分歧——特别是在货币和财政政策在刺激增长中的作用方面。

在货币政策方面,公报只有空洞的陈述:G-20将“继续支持经济活动和确保物价稳定,与央行使命保持一致。”这回避了核心问题:央行应该尝试通过“非常规”货币政策刺激增长吗?

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