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Limits of Monetary Policy Autonomy by East Asian Debtor Central Banks
Loeffler, Axel - 2013
-Gordon-type central bank loss function that in both cases surplus liquidity limits monetary policy autonomy. In case of fixed exchange …
Persistent link: https://www.econbiz.de/10013091528
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The Failure of ECB Monetary Policy from a Mises-Hayek Perspective
Schnabl, Gunther - 2017
The paper analyses the common European monetary policy based on a Mises-Hayek over-investment framework, which is combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary policy contributed to unsustainable over-investment...
Persistent link: https://www.econbiz.de/10012958878
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Central Banking and Crisis Management from the Perspective of Austrian Business Cycle Theory
Schnabl, Gunther - 2016
The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek … towards zero and a gradual expansion of central bank balance sheets. From a Hayek-Mises-Wicksell perspective asymmetric … central bank crisis management has contributed to financial market bubbles, decreasing marginal efficiency of investment …
Persistent link: https://www.econbiz.de/10012977401
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Inflation Targeting by Debtor Central Banks in Emerging Market Economies
Loeffler, Axel - 2013
implementing sterilization costs into the central bank's objective function the inflation bias increases …
Persistent link: https://www.econbiz.de/10013094452