An enlightened policy response to the refugee crisis could help Europe in other ways as well. Already, it is unlocking additional fiscal outlays in countries like Germany – which, despite having the means, did not previously have the will to spend – thereby helping to alleviate an aggregate-demand imbalance that, together with structural impediments to growth and excessive indebtedness in some countries, has held back the region’s recovery.
对难民危机采取开明政策应对措施还可能在其他方面助欧洲一臂之力。难民刺激了德国等国家的财政支出——此前这些国家尽管可以刺激支出，但不愿这样做——从而有助于缓和总需求失衡，而总需求失衡与增长的结构性障碍以及一些国家的过度负债阻碍了欧洲的复苏。