インフレ期待を高める大胆な金融政策（quantitative easing, inflation targeting） Paul Krugman： Applying his “Liquidity Trap” theory, Krugman advocates bold monetary policies (quantitative easing, inflation targeting) to boost inflation expectations. In The Return of Depression Economics (1999), he frames Japan as a lesson for modern crises.
金融加速器理論（beyond zero rates） Ben Bernanke： His “Balance Sheet Recession” theory, rooted in the Financial Accelerator, explains how asset price declines trigger credit contraction, harming the real economy. He suggests early quantitative easing and inflation targeting.
債務最小化（debt minimization） Richard Koo： His “Balance Sheet Recession” theory highlights a shift to “debt minimization” by the private sector. Like Krugman, he notes zero rates’ ineffectiveness but stresses fiscal policy’s primacy.
