Pierpaolo Benigno from University of Bern: The Economics of Helicopter Money

Pierpaolo Benigno from University of Bern: The Economics of Helicopter Money

Abstract
An economy plagued by a slump and in a liquidity trap has some options to exit the crisis. We discuss helicopter money and other equivalent policies that can reflate the economy and boost  consumption. Traditional helicopter money, via the joint co-operation between the treasury and the central bank, depends critically on the central bank fully guaranteeing treasury's debt. We explore some alternatives for the central bank to do helicopter money on its own, without any treasury's involvement.

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