Kemal Derviş
Time for Helicopter Money?
Brookings Institution, 2016
What's inside?
Low interest rates have not promoted economic growth, so it may be time to raise rates.
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Recommendation
Although interest rates are at all-time lows – even in negative territory in some countries – global growth remains tepid. Kemal Derviş of the Brookings Institution says that it is high time for central bankers to band together and start hiking up interest rates in order to ward off speculation and nip potential bubbles. Along with higher rates, policy makers should implement ways of injecting “helicopter money” into their economies to provide stimulus, build up infrastructure and educate people. getAbstract suggests Derviş’s provocative but topical paper to policy makers, economists and business executives.
Summary
About the Author
Kemal Derviş is vice president and director of global economy and development at the Brookings Institution.
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