ヘリコプター・マネー
これは日銀行内ジャーナルに掲載されたようですが、すごい大きな効果ですね。
ＧＤＰは増えるし、デフレは脱却するし、財政赤字の対ＧＤＰ比も低下する。
よく日銀が掲載したな、という感じです。
http://www.imes.boj.or.jp/english/publication/mes/2008/me26-7.pdf
＜This paper examines the effects of a money-financed fiscal expansion—
a helicopter drop—when an economy is in a liquidity trap. It uses a
textbook-style model calibrated to fit Japan’s economic slump and deflation
as of 2003. According to the results, money-financed transfers totaling
9.4 percent of GDP end the output slump and guide the economy
to a steady state with 2 percent inflation. By raising output and inflation,
the policy also reduces the ratio of government debt to GDP. The policy’s
long-run effects are the same as those of a bond-financed fiscal expansion,
but money finance prevents a short-run rise in debt.
MONETARY AND ECONOMIC STUDIES/DECEMBER 2008＞
ＧＤＰは増えるし、デフレは脱却するし、財政赤字の対ＧＤＰ比も低下する。
よく日銀が掲載したな、という感じです。
http://www.imes.boj.or.jp/english/publication/mes/2008/me26-7.pdf
＜This paper examines the effects of a money-financed fiscal expansion—
a helicopter drop—when an economy is in a liquidity trap. It uses a
textbook-style model calibrated to fit Japan’s economic slump and deflation
as of 2003. According to the results, money-financed transfers totaling
9.4 percent of GDP end the output slump and guide the economy
to a steady state with 2 percent inflation. By raising output and inflation,
the policy also reduces the ratio of government debt to GDP. The policy’s
long-run effects are the same as those of a bond-financed fiscal expansion,
but money finance prevents a short-run rise in debt.
MONETARY AND ECONOMIC STUDIES/DECEMBER 2008＞
