政府紙幣、スタンプ・スクリップ、ヘリコプターマネー、埋蔵金などなど。この論文読んでから何かいわないとダメな悪寒。
Buiter, Willem H. (2007) Seigniorage
In this paper I analyse four different but related concepts, each of which highlights some aspect of the way in which the state acquires command over real resources through its ability to issue fiat money. They are (1) seigniorage (the change in the monetary base), (2) Central Bank revenue (the interest bill saved by the authorities on the outstanding stock of base money liabilities), (3) the inflation tax (the reduction in the real value of the stock of base money due to inflation and (4) the operating profits of the central bank, or the taxes paid by the Central Bank to the Treasury. To understand the relationship between these four concepts, an explicitly intertemporal approach is required, which focuses on the present discounted value of the current and future resource transfers between the private sector and the state. Furthermore, when the Central Bank is operationally independent, it is essential to decompose the familiar consolidated ‘government budget constraint’ and consolidated ‘government intertemporal budget constraint’ into the separate accounts and budget constraints of the Central Bank and the Treasury. Only by doing this can we appreciate the financial constraints on the Central Bank’s ability to pursue and achieve an inflation target, and the importance of cooperation and coordination between the Treasury and the Central Bank when faced with financial sector crises involving the need for long-term recapitalisation or when confronted with the need to mimic Milton Friedman’s helicopter drop of money in an economy faced with a liquidity trap.
それとこれも読まないといけないか。この二本と矢野さんの資料を読んで今日は終わりそうな予感
Laurence Ball（2008）Helicopter Drops and Japanfs Liquidity Trap
http://www.imes.boj.or.jp/english/publication/mes/2008/me26-7.pdf
しかしこのBuiter論文を読むと（日本銀行の積極的な協力は期待できない中で）埋蔵金を使った定額給付金というバラマキ＝ヘリマネ政策が、日本ではいかにおいしい政策だったかがわかるなあ。結果的に、今度の麻生政権のわずか２兆円での迷走ぶりで、国民の自己欺瞞的態度（給付金はダメな政策だが、同時にもらうと使うし嬉しい）を強化してしまっただけか。本当にもったいない。
