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Every initiative that potentially increases the effectiveness of monetary policy is welcome. The European Union's Capital Markets Union (CMU) project is potentially a point in case, even though monetary policy is not a policy target of CMU. Increasingly developed capital markets in the EU are...
Persistent link: https://www.econbiz.de/10012054625
growth rate of the economy and the agricultural sector, extends the analysis of the fiscal stimulus and its effects, and … potential growth rate of economy and that of agriculture to achieve a non-inflationary, high growth trajectory for the country …. The fiscal stimulus effects indicate the importance of fiscal consolidation efforts to sustain high growth. The trade …
Persistent link: https://www.econbiz.de/10011807659
potential output growth, inequality, demand for safe assets and the level of US government debt. Results from the new models … output growth, higher inequality and heightened demand for safe assets. …
Persistent link: https://www.econbiz.de/10012619163
-century with very little growth in per capita GDP, there was a major change beginning in 2004. GDP per person (adjusted for … growth of the prior government (1995-2002). This growth rate was achieved in spite of the 2008-09 global financial crisis and …
Persistent link: https://www.econbiz.de/10011096687
In the past 6 years the Greek economy has gone through a massive adjustment at a steep price. The economy finally grew in 2014, by 0.6 percent, but the recovery is weak, slow and fragile. This paper argues that prolonged mass unemployment and reduced living standards, brought about by years of...
Persistent link: https://www.econbiz.de/10011162530
This four-chapter overview of basic exchange rate theories discusses (i) the elasticity and absorption approach, (ii) the (long-run) implications of the monetary approach, (iii) the short-run effects of monetary and fiscal policy under various economic conditions, and (iv) the transition from...
Persistent link: https://www.econbiz.de/10011257400
ratio between public debt and GDP; the conditional measures which reduces the growth of public debt, and allows, at a later …
Persistent link: https://www.econbiz.de/10011114853
Latin America's economic growth rebound in the 2000s is often attributed to a “commodities boom,” which implies that … the region’s growth was stimulated by sizable increases in the price of commodity exports. This paper looks at whether the … the terms of trade (TOT) for Latin American countries and their GDP growth. There is, however, a positive relationship …
Persistent link: https://www.econbiz.de/10010786631
Inflation dynamics in advanced countries have produced two consecutive puzzles during the years after the global financial crisis. The first puzzle emerged when inflation rates over the period 2009-11 were consistently higher than expected, although economic slack in advanced countries reached...
Persistent link: https://www.econbiz.de/10010885041
The U.S. Federal Reserve responded to the great recession by reducing policy rates to the effective lower bound. In order to provide further monetary stimulus, they subsequently conducted large-scale asset purchases, quadrupling their balance sheet in the process. We assess the international...
Persistent link: https://www.econbiz.de/10010960398