'...the decline in support for European fiscal rules carries serious risks. If the most concrete elements of the eurozone’s governance framework are not applied rigorously, what will compel member states to undertake reforms and stabilize their debt levels? Vague exhortations will not work. It seems that the crisis, and the untenably large risk premia for highly indebted governments that followed, has already been forgotten.
'...It would be better to allow an independent management team to make decisions free of political interference, in the manner of a central bank policy committee. But this presupposes freeing the IMF from dependence on financial contributions from its regional stakeholders. And it requires IMF management to demonstrate that it can consistently make decisions based on program countries’ economic interest, not on the political preferences of powerful national shareholders....'
However, this is only one possible form of helicopter money. Another way of achieving the desired increase in spending was suggested by the Swiss businessman, Silvio Gesell, in 1906. His idea was to give cash directly to households,,,'
Por el contrario, los bancos centrales deberían centrarse en la tasa de aumento de los ingresos, que se mide como el crecimiento del PIB nominal; al fin de cuentas, esto es lo que es de importancia para las empresas y los gobiernos que se encuentran altamente endeudados. Según lo que muestra esta medida, no hay deflación: El índice de precios del PIB (llamado deflactor del PIB) en los países desarrollados está aumentando en un 1 a 1,5%, en promedio. ..'
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Simone Weil once said, “If you want to know what a man is really like, take notice of how he acts when he loses money.” Likewise, if we want
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The IMF's Independent Evaluation Office, established after Asia's 1998 financial crisis to assess IMF policies and programs at arm's length,
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Sometimes the most important thing that happens is what doesn’t happen – or, to paraphrase Sherlock Holmes, it’s the dog that doesn’t bark i
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Why is the goal of an open and increasingly integrated global economy coming under such fierce attack – and why now? If the ideal world of e
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