Nicolas Asfouri/AFP/Getty Images

日本的经济上计

纽约—日本资产泡沫破裂已经四分之一世纪,而其一个接一个的“失去的十年”也维持了四分之一世纪。增长本身不是目标;我们应该关注生活水平。日本在遏制人口增长方面一直世界领先,生产率也一直在提高。工作年龄人口人均产出增长要高于美国,比欧洲更是要高出甚多,2008年以后尤其如此。

但日本人认为他们可以做得更好。我也同意。日本的供给侧和需求侧、实体经济和金融业都存在问题。解决这些问题所需要的经济政策必须比决策者目前所采取的政策更有希望见效。目前的政策没能实现通胀目标、重塑信心或将增长提振至希望水平。

首先,大规模碳税如能与“绿色金融”配合,能够刺激巨量投资令经济焕然一新。这一刺激几乎肯定能盖过从现行体系中抽出资金所带来的萎缩效应以及“碳资产”贬值所造成的负财富效应。碳资产贬值的负财富效应规模将相当小;而由于资本存量与新价格体系的严重不同步,所释放的投资将十分巨大,除非存在弥合缺口的瓶颈。

To continue reading, please log in or enter your email address.

Registration is quick and easy and requires only your email address. If you already have an account with us, please log in. Or subscribe now for unlimited access.

required

Log in

http://prosyn.org/wvQv9Sl/zh;
  1. China corruption Isaac Lawrence/Getty Images

    The Next Battle in China’s War on Corruption

    • Chinese President Xi Jinping knows well the threat that corruption poses to the authority of the Communist Party of China and the state it controls. 
    • But moving beyond Xi's anti-corruption purge to build robust and lasting anti-graft institutions will not be easy, owing to enduring opportunities for bureaucratic capture.
  2. Italy unemployed demonstration SalvatoreEsposito/Barcroftimages / Barcroft Media via Getty Images

    Putting Europe’s Long-Term Unemployed Back to Work

    Across the European Union, millions of people who are willing and able to work have been unemployed for a year or longer, at great cost to social cohesion and political stability. If the EU is serious about stopping the rise of populism, it will need to do more to ensure that labor markets are working for everyone.

  3. Latin America market Federico Parra/Getty Images

    A Belt and Road for the Americas?

    In a time of global uncertainty, a vision of “made in the Americas” prosperity provides a unifying agenda for the continent. If implemented, the US could reassert its historical leadership among a group of countries that share its fundamental values, as well as an interest in inclusive economic growth and rising living standards.

  4. Startup office Mladlen Antonov/Getty Images

    How Best to Promote Research and Development

    Clearly, there is something appealing about a start-up-based innovation strategy: it feels democratic, accessible, and so California. But it is definitely not the only way to boost research and development, or even the main way, and it is certainly not the way most major innovations in the US came about during the twentieth century.

  5. Trump Trade speech Bill Pugliano/Getty Images .

    Preparing for the Trump Trade Wars

    In the first 11 months of his presidency, Donald Trump has failed to back up his words – or tweets – with action on a variety of fronts. But the rest of the world's governments, and particularly those in Asia and Europe, would be mistaken to assume that he won't follow through on his promised "America First" trade agenda.