破局與重塑

Why the Fed is to blame for the boom in zombie companies
美聯準爲何要爲殭屍企業激增負責?

When interest rates are at zero, creditors are encouraged to renew financing to unproductive companies
爾宗卡:殭屍企業激增與全球高通膨問題的禍根都是美聯準。當利率爲零時,債權人就會被鼓動爲無效益的公司進行續融資。

The writer is a former member of the Monetary Policy Council in Poland. His co-author, Grzegorz Parosa, is head of equities at AXA’s investment arm in Poland and a doctoral student at Stanford University

本文作者是波蘭貨幣政策委員會(Monetary Policy Council)前成員。其合著者格熱戈日•帕羅薩(Grzegorz Parosa)是波蘭安盛保險(AXA)投資部門的股權主管,也是史丹佛大學(Stanford University)的博士生

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