Ceramic model of bag of money Ceramic bag of money/Pixabay

The Year Ahead 2016



那么该如何抵御需求疲软的影响?理论上低利率应该能促进投资和创造就业机会。但在实践中,如果债务负担意味着消费需求持续疲软,新投资的实际回报可能会因此而崩溃。瑞典经济学家克努特·维克塞尔( Knut Wicksell)在一个世纪前定义的中性利率——简而言之,就是使经济回归充分就业以及稳定通货膨胀所需的利率——甚至可能是负的。这也说明了央行为何会痴迷于量化宽松这类非常规货币政策。但这些政策究竟能否刺激国内投资和消费,充其量也只是有些含糊不清的证据。


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