Conventional policy advice urges innovative monetary interventions bearing an ever expanding array of acronyms, even as governments are admonished to spend on “obvious” needs such as infrastructure. The need for structural reforms is acknowledged, but they are typically deemed painful, and possibly growth-reducing in the short run.
常规政策建议敦促不断扩大创新性货币干预，即使政府被教导要把钱花在“显而易见”的需要如基础设施上。结构改革的需要早已得到了承认，但它们通常十分痛苦，在短期可能有抑制增长的作用。因此焦点仍在于货币和财政刺激&mdash;&mdash;尽可能如此，因为债务积压的效果已经令人麻木。