不要与人民的量化宽松或基本收入相混淆。
人民量化宽松(PQE)是英国杰里米·科宾(Jeremy Corbyn)在2015年8月举行的工党领导人选举中提出的一项政策。这将要求英格兰银行发行货币并通过国家投资银行为政府投资提供资金。
基本收入是一项理论上的政府公共计划,旨在定期支付给所有公民,而无需经济审查或工作要求。
直升机货币(Helicopter money)是一项还在讨论中的非常规货币政策,有时在经济处于流动性陷阱(Liquidity trap 利率接近零且经济仍处于衰退状态)时被建议作为量化宽松(Quantitaive Easing, QE)的替代方案。尽管最初的直升机撒钱概念描述了中央银行直接向个人付款,但经济学家使用“直升机货币”一词来指代各种不同的政策方案,包括预算赤字的“永久性”货币化以及其他要素,试图刺激人们对未来通胀或名义上的GDP增长的信念,以期改变人们期望。第二套政策更接近于最初对直升机资金的描述,并且在货币历史的背景下更具创新性,其中涉及中央银行直接将基础货币转移至私营部门,而无需财政当局的直接参与。这也被称为公民红利或未来铸币税的分配。
The name "helicopter money" was first coined by Milton Friedman in 1969, when he wrote a parable of dropping money from a helicopter to illustrate the effects of monetary expansion. The concept was revived by economists as a monetary policy proposal in the early 2000s following Japan's Lost Decade. In November 2002, Ben Bernanke, then Federal Reserve Board governor, and later chairman suggested that helicopter money could always be used to prevent deflation.
米尔顿·弗里德曼(Milton Friedman)于1969年首次提出了“直升机货币”的名字,当时他写了一个从直升机上掉钱的寓言来说明货币扩张的影响。在日本的“失落的十年”之后,经济学家在2000年代初重新提出了这一概念,并将其作为货币政策提案。 2002年11月,时任联邦储备委员会行长,后来的主席本·伯南克(Ben Bernanke)建议,可以使用直升机资金来防止通缩。
Origins
Although very similar concepts have been previously defended by various people including Major Douglas and the Social Credit Movement, Nobel winning economist Milton Friedman is known to be the one who coined the term 'helicopter money' in the now famous paper "The Optimum Quantity of Money" (1969), where he included the following parable:
起源
尽管非常相似的概念以前曾被包括道格拉斯少校和社会信用运动在内的许多人提出,但诺贝尔经济学奖得主米尔顿·弗里德曼(Milton Friedman)被公认为是在如今著名的论文“最优货币量”中创造了“直升机钱”一词的人。 ”(1969年),其中包括以下寓言:
Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community. Let us suppose further that everyone is convinced that this is a unique event which will never be repeated.
现在让我们假设,有一天,一架直升机飞越该社区,并从天上掉下1,000美元的支票,这些钱当然被社区成员匆忙捡到的。让我们进一步假设,每个人都相信这是一个独特的事件,永远不会重复。
Originally used by Friedman to illustrate the effects of monetary policy on inflation and the costs of holding money, rather than an actual policy proposal, the concept has since then been increasingly discussed by economists as a serious alternative to monetary policy instruments such as quantitative easing. According to its proponents, helicopter money would be a more efficient way to increase aggregate demand, especially in a situation of liquidity trap, when central banks have reached the so-called 'zero lower bound'.
最初由弗里德曼(Friedman)用来说明货币政策对通货膨胀和持有货币的成本的影响,而不是实际的政策建议,此后,经济学家对此概念进行了越来越多的讨论,认为它是诸如量化宽松之类的货币政策工具的替代方案。根据其支持者的说法,直升机货币将是增加总需求的一种更有效的方式,尤其是在中央银行达到所谓的“零下限”的流动性陷阱的情况下。(维基谷歌翻译)
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