High-income economies have had ultra-cheap money for more than five years. Japan has lived with it for almost 20. This has been policy makers’ principal response to the crises they have confronted. Inevitably, a policy of cheap money is controversial. Nonetheless, as Japan’s experience shows, the predicament may last a long time.
高收入國家實行超級廉價資金政策已經(jīng)5年多了。日本已經(jīng)這樣生活了近20年。這是政策制定者對他們面對的危機做出的主要回應(yīng)。不可避免的是，廉價資金政策是有爭議的。然而，正如日本的經(jīng)歷所顯示的，這種局面可能會持續(xù)很久。
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