19/07/16 20:40:27.69 upP/5T4J0.net
Too Little, Gone Too Soon
August 30, 2013
URLﾘﾝｸ(cache.yahoofs.jp)
One of the things you always heard, back
when we were actually talking about stimulus rather than fighting a rearguard action against destructive austerity,
was the claim that stimulus spending would inevitably end up becoming a permanent fixture of the economy.
This was always said with an air of worldly wisdom - of course that’s how these things work! - even though history said very much the opposite.
But anyway, the invaluable FRED now has a series on exactly that subject, and here’s what it looks like:
By the way, it’s helpful to have a sense of the scale of this thing compared with the economy.
So here’s the stimulus calculated as a percentage of the CBO estimate of potential GDP:
So next time someone goes on about how we had this huge stimulus that failed, you can tell him that the “huge” stimulus
- in response to the worst financial crisis in three generations - peaked at a whopping 1.6 percent of GDP, and was effectively gone in a bit over two years.
米国があれだけ、金融緩和・軍事費増大・公共事業・政府による無制限買取、をやっても、GDPを2年間1.5%増やしただけだったそうだ。
日本は壊滅的に、金融緩和・公共事業・減税、が足りないということだ。
ノーベル経済学賞を受賞したポールクルーグマンがそういっている