bet365 live casino games Documents related to population problems and long -term stagnation believes，The aging population makes the willingness to save too much，Wish to invest too little，Then the economy has fallen into long -term stagnation，Therefore, it is necessary Bet365 app download to stimulate investment through expanding finance and monetary policy。but but，These documents ignore the key phenomenon of the negative population growth。Japan is regarded as a typical case of long -term stagnation，At the same time, it is also the earliest major economy to enter the negative growth of the population。Take Japan as an example，Introducing non -negative investment constraints and zero interest rate lower limit in a simple generation of overlapping models，Discussion Under bet365 Play online games the condition of negative population，Capital output ratio continues to rise，Capital marginal products and capital relative prices continue to decline，and even the entire economy has fallen into an unbalanced mechanism of continuous decline。Because it cannot prevent the decline in the relative price of capital，Monetary policy failure，The expansion fiscal policy aimed at stimulating investment demand will further exacerbate capital excess capital。In the process of negative bet365 live casino games population growth，Available methods to improve capital marginal products to restore the economy to restore the balanced state，It can only increase the labor force that is too small than the excess capital stock，Based on this，Fiscal policy can be subsidized through subsidies、Expanding education, scientific research and medical and health expenditures play a role。 

　　Keywords:A negative population growth  Long -term stagnation  Monetary policy  fiscal policy 

　　AuthorYin Jianfeng，Professor of the School of Finance at the University Bet365 lotto review of Foreign Economics and Trade (Beijing 100105)。