B. Bossone & R. Wood on OMF (Overt Money Financing)

EconoMonitor : EconoMonitor » Why QE in the Eurozone Is a Mistake

a policy plan is required that provides economic stimulus through a budget deficit without increasing public debt.  This can be achieved by adopting an appropriate form of Overt Money Financing (OMF).  OMF – which is a form of helicopter money – is the most effective instrument to affect aggregate demand in economies under heavy recession and totally limited fiscal space