Heise, Michael, (2016), “The Case Against Helicopter Money”, Project Syndicate, 20 Απριλίου
Despite years of expansionary monetary policy, the European Central Bank has failed to push inflation back up to its target of “below but close to 2%.” The latest measures – a zero interest rate on the ECB’s main refinancing operations, an increase in monthly asset purchases from €60 billion ($67 billion) to €80 billion, and an even lower deposit rate of -0.40% – are unlikely to change this. That is why some economists are urging the ECB to go even further, with so-called “helicopter drops” – that is, financing private consumption by printing money.
Σχετικές Αναρτήσεις
- Roubini, Nouriel, (2016), “Unconventional Monetary Policy On Stilts”, Social Europe, 5 Απριλίου
- Hüttl, Pia, Leandro, Alvaro, (2016), “Helicopter drops reloaded”, Bruegel Blog, 14 Μαρτίου