Helicopter money still contentious as Borio enters debate

Article by Claudio Borio and others triggers fresh debate

Milton Friedman first came up with the image of banknotes thrown from a helicopter

Helicopter money continues to provoke debate, as economists disagree on whether the policy might bring dramatic unintended consequences.

Helicopter money, also referred to as 'overt money finance' (OMF), involves producing an increase in consumers' nominal purchasing power via a permanent injection of money. One way to achieve this is for the government to run a deficit paid for by central bank money printing. Another is to drop freshly printed banknotes from a helicopter.

Despite the proposal's

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