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长期正常真实利率可视为实体经济的突生性质(emergent property)。从投资和储蓄的角度讲,经济均衡即低安全真实利率(它为投资者提供了低成本信用)所带来的好处与高真实利率(它意味着储蓄者回报较高)所带来的好处之间达到平衡。

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  1. solana114_FADEL SENNAAFP via Getty Images_libyaprotestflag Fadel Senna/AFP via Getty Images

    Relieving Libya’s Agony

    Javier Solana

    The credibility of all external actors in the Libyan conflict is now at stake. The main domestic players will lower their maximalist pretensions only when their foreign supporters do the same, ending hypocrisy once and for all and making a sincere effort to find room for consensus.


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