Financial and Monetary Systems
Helicopter money: "There's no such thing as a free lunch"
Realising the benefits that proponents of helicopter money claim exist would require giving up on interest rate policy forever.
Claudio Borio is Head of the Monetary and Economic Department (MED), Bank for International Settlements.
He has been at the BIS since 1987, covering various responsibilities in the Monetary and Economic Department including Director of Research and Statistics and Head of the Secretariat of the Committee on the Global Financial System and the Gold and Foreign Exchange Committee, which examine, inter alia, issues related to financial stability and market functioning.
From 1985-1987, he worked as economist at the OECD in the country studies branch of the Economics and Statistics Department.
Prior to that, he was Lecturer and Research Fellow at Brasenose College, Oxford University.
He holds a DPhil and MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university. Author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.
