If the problem is really low expected inflation, what are the possible economic policies?
It is possible that the objective of economic policies in OECD countries really is to combat deflation, which is reflected by the low level of expected inflation. There are then several possible economic policies: Unconventional monetary policy; Expansionary fiscal policy; Unconventional tax policy. But rather than using these policies, which all present dangers and are relatively ineffective, it would be simpler to raise wages and correct the skewing of income distribution.