Abstract:Literature on population problems and long-term stagnation，The aging population makes people willing to save too much，Too little willingness to invest，This leads to long-term economic stagnation，Thus expansionary fiscal and monetary policies are needed to stimulate investment。However，These literatures ignore the key phenomenon of bet365 best casino games。Japan is seen as a classic case of long-term stagnation，It is also the first major economy to enter bet365 best casino games。Take Japan as an example，Introducing non-negative investment constraints and a zero lower bound in a simple overlapping generations model，Discussing the situation of bet365 best casino games，The capital-output ratio continues to rise，The marginal product of capital and the relative price of capital goods continue to decline，The mechanism that causes the entire economy to fall into a non-equilibrium state of lasting decline。Due to the inability to prevent the decline in relative prices of capital goods，Monetary policy failure，The expansionary fiscal policy aimed at stimulating investment demand will further exacerbate capital excess。In the process of bet365 best casino games，A feasible way to increase the marginal product of capital and restore the economy to equilibrium，Can only increase too little labor relative to too much capital stock，Based on this，Fiscal policy can subsidize childbearing、Expand the role of education, scientific research and medical and health spending。

　　Keywords:bet365 best casino games Secular stagnation Monetary Policy Fiscal Policy

　　AuthorYin Jianfeng，Professor, School of Finance, University of International Business and Economics (bet365 best casino games 100105)。