LONDON – In 2011, the Nobel laureate economist Paul Krugman characterized conservative discourse on budget deficits in terms of “bond vigilantes” and the “confidence fairy.” Unless governments cut their deficits, the bond vigilantes will put the screws to them by forcing up interest rates.
伦敦—2011年，诺贝尔经济学奖获得者保罗·克鲁格曼（Paul Krugman）用“债券纠察队”（bond vigilantes）和“信心仙子”（confidence fairy）形容预算赤字方面的保守做法。除非政府削减赤字，否则债券纠察队将通过推高利率迫使它们就范。但如果它们确实削减了赤字，信心仙子将通过刺激比削减赤字所影响的更多的私人支出来奖励它们。