The importance of liquidity and insolvency for nation states and banks has been highlighted by current economic woes in … full circle. Discussing some modern authors, it is argued that the concepts of liquidity and insolvency are connected …

die jeweiligen Implikationen dieser Sachverhalte für die Geldpolitik untersucht. Im ersten Aufsatz (gemeinsam mit Kai D … Konjunkturzyklus zu erklären. Optimale Geldpolitik unter Einbeziehung von Fähigkeitsverlusten erlaubt eine höhere Inflationsvolatilität … zu reduzieren und somit Konsumverluste abzufedern. Auf diese Weise berücksichtigt optimale Geldpolitik die Auswirkungen …

The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … creation in Japan's post-bubble period. With the price level being assumed to be dependent on both goods with free market …

This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece …