Showing 1 - 10 of 17
We analyze the effects of the increasingly expansionary monetary policies on the economic order and on the European integration process. We argue that the market orders shaped in postwar Germany and in Margret Thatcher's United Kingdom have long served as cornerstones for growth, prosperity and...
Persistent link: https://www.econbiz.de/10011809903
Even before the Great Recession, U.S. employment growth was unimpressive. Between 2000 and 2007, the economy gave back … the considerable employment gains achieved during the 1990s, with a historic contraction in manufacturing employment being … force behind both recent reductions in U.S. manufacturing employment and-through input-output linkages and other general …
Persistent link: https://www.econbiz.de/10010528328
monetary policy had a significant impact on Japan's household behavior via the interest rate channel and the redistribution … households, focusing on the dramatic change of the household savings rate since 1998, from high to low savings. The literature … channel but not the labor income channel. There is also evidence that rising wealth boosts savings. …
Persistent link: https://www.econbiz.de/10012485326
Persistent link: https://www.econbiz.de/10003499570
Currencies of countries with persistent current account surpluses and high foreign currency denominated assets such as the Swiss franc and Japanese yen are under a persistent appreciation pressure, what restricts the degree of freedom in the choice of exchange rate regime. Official announcements...
Persistent link: https://www.econbiz.de/10011392509
The paper shows that currencies of countries with persistent current account surpluses and high foreign-currency denominated assets, such as the Swiss franc and the Japanese yen, are under persistent appreciation pressure, particularly when the centres of the world monetary system follow...
Persistent link: https://www.econbiz.de/10011309557
How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to … reference to prefectures' different historical pathways to financial development. After Japan's opening to trade in the 19th …, the main export hub for silk, provided silk reelers with trade loans. Many regional banks in Japan were founded as local …
Persistent link: https://www.econbiz.de/10009691621
constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan - at different points of time - self-fulfilling runs …
Persistent link: https://www.econbiz.de/10011475972
Both Japan and parts of the European Monetary Union have experienced boom and bust in stock and real estate markets … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … expansion. Econometric estimations show that in Japan regional redistribution of funds has ensured homogeneous living conditions …
Persistent link: https://www.econbiz.de/10011476067
Persistent link: https://www.econbiz.de/10003364046