Barry Eichengreen, (2019), “The Return of Fiscal Policy”, Project Syndicate, 13 Μαϊου
Public debt is not a free lunch in an economy close to full employment. But when investment demand tends to fall short of saving, as it does when monetary policymakers are unable to push inflation higher to reduce real interest rates, there is a risk of chronic underemployment – and a stronger argument for deficit spending.
Σχετικές Αναρτήσεις
- Jean Pisany-Ferry, (2019), «When Facts Change, Change the Pact», Project Syndicate, 29 Απριλίου
- European Commission, Economic and Financial Affairs, (2019), «Fiscal Sustainability Report 2018 Volume 1», Institutional Paper 094, 18 Ιανουαρίου