Short piece on QE for the rest of us up in the Guardian with Eric Lonergan and Simon Wren-Lewis.
This entry was written by Mark Blyth on Thursday, May 21st, 2015 at 9:23 am and is filed under Uncategorized.
May I offer a slight refinement on this proposal? There is every chance that, especially after an economic shock, consumers will merely bank most of these extra funds. This would result, effectively, in a large part of the payment ending up in bank accounts. Ironically the same end result as regular QE.
Therefore I offer this suggestion. Issue each taxpayer with a Central Bank credit card against which payments can be made. Credit on the card should have a short time limit – ‘use it or lose it’. Further, any such payments should be made intermittently and be large in order to encourage the public to boost spending to the maximum extent possible.
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