一个设计良好的宏观政策体系必须解决时间一致性问题弗里德曼说,政府在货币体系方面的作用已获得广泛认可。但这也存在一定的问题,即,从货币政策框架到资源配置,都可能受到政府的过度干预。因此,需要明确界定政府的职能边界。最佳的宏观经济政策是什么?是货币市场政策(“直升机撒钱”式的货币融资)还是信贷市场政策(信贷融资)?从历史经验看,决策者很难做出选择,经常从一个极端转向另一 A well-designed macro-policy system must address the issue of time coherence Friedman said the government’s role in the monetary system has been widely recognized. However, this also poses some problems. That is, from the monetary policy framework to the allocation of resources, there may be excessive government intervention. Therefore, the functional boundaries of the government need to be clearly defined. What is the best macroeconomic policy? Is money market policy (“helicopter money”) or credit market policy (credit financing)? Historically, it is difficult for decision makers to make choices, often from One extreme turns to the other