What mechanisms must economists clarify?
During this crisis, economists must work to clarify a number of mechanisms so that the public debate can focus on the real issues . D iscussion that ha s taken place since the start of the crisis show that, in particular, there is a need to clarify: The concept of helicopter money, a measure that central banks are already using; The status of the public debt held by central banks, which is cancelled subject to one condition ; and, accordingly, how the public debt ratio is measured; The link between money creation, inflation in goods and services prices and inflation in asset prices; The concept of demand-led and supply-led recessions, which is vital to identifying effective economic policies.