16/03/13 12:14:29.16 86x9zXFB.net
>>485の続き
Escape velocity
Suppose, bad instincts aside, that we really can go down this road. How
high should Japan set its inflation target? The answer is, high enough
so that when it does engage in fiscal consolidation it can cut real interest
rates far enough to maintain full utilization of capacity. And it’s really,
really hard to believe that 2 percent inflation would be high enough.