这里面存在一个问题，如果收入与消费之间存在一个时间差的话，技术进步可以通过提升效率来降低产品的价格，从而可以提升消费的总量

但债务清盘是不给这个时间差的。

什么垃圾啊  

QE的理论文章有的是    看明白woodford的如下文章再出来叽歪


§  "The Zero Interest-Rate Bound and Optimal Monetary Policy," with Gauti B. Eggertsson, revised June 2003. (pdf format) [Presented at the Brookings Panel on Economic Activity, March 2003.]

§  "Optimal Monetary Policy in a Liquidity Trap," with Gauti B. Eggertsson, September 2003. [Also available as NBER w.p. no. 9968. Updated version of Brookings paper, with additional discussion of Japan; presented at International Workshop on Overcoming Deflation and Revitalizing the Japanese Economy, ESRI, Tokyo, Sept. 18, 2003.]

§  "Optimal Monetary and Fiscal Policy in a Liquidity Trap," with Gauti B. Eggertsson, July 2004. (pdf format) [Published in NBER International Seminar on Macroeconomics 2004.]

这才是真正的垃圾。

谢谢，学习了