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Economic Policies since the Global Financial Crisis

Arestis, Philip (ed.); Sawyer, Malcolm (ed.) - 2017

This book investigates the changing nature of economic policies following the Global Financial Crisis of 2007-2009. Well-respected, international scholars come together to discuss the level of economic growth following the crisis, concerns over inequality in industrialised countries, and labour...

Persistent link: https://www.econbiz.de/10012397525

Money, Stock Prices and Central Banks : A Cointegrated VAR Analysis

Wiedmann, Marcel - 2011

whether liquidity conditions play an important role in stock market developments. As an innovation, liquidity conditions enter … flows, which represent the share of global liquidity that arrives in the respective country. A second aim is to understand …

Persistent link: https://www.econbiz.de/10014015328

The negative mean output gap

Aiyar, Shekhar; Voigts, Simon - 2019

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns than they increase employment during expansions. This is demonstrated in a simple...

Persistent link: https://www.econbiz.de/10012103632

Macroeconomic and financial policies for climate change mitigation : a review of the literature

Krogstrup, Signe; Oman, William - 2019

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The...

Persistent link: https://www.econbiz.de/10012103638

How informative are real time output gap estimates in Europe?

Kangur, Alvar; Kirabaeva, Koralai; Natal, Jean-Marc; … - 2019

We study the properties of the IMF-WEO estimates of real-time output gaps for countries in the euro area as well as the determinants of their revisions over 1994-2017. The analysis shows that staff typically saw economies as operating below their potential. In real time, output gaps tend to have...

Persistent link: https://www.econbiz.de/10012103755

Effectiveness of internal audit and oversight at central banks : safeguards findings - trends and observations

Chamoun, Elie; Greuning, Riaan van - 2018

Experience under the safeguards policy has shown that central banks continued to strengthen their safeguards frameworks, but that vulnerabilities prevailed in the areas of internal audit and oversight by the audit committee (AC). This paper takes steps to help unravel why this was the case,...

Persistent link: https://www.econbiz.de/10011866392

The role of board oversight in central bank governance : key legal design issues

Bossu, Wouter; Rossi, Arthur - 2019

This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper...

Persistent link: https://www.econbiz.de/10012155156

Macroeconomics, Finance and Money : Essays in Honour of Philip Arestis

Fontana, Giuseppe (ed.); McCombie, John (ed.); … - 2010

This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished career

Persistent link: https://www.econbiz.de/10012053869

Does Global Liquidity Matter for Monetary Policy in the Euro Area?

Berger, Helge - 2009

Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the … euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for … longer-term interest rate and output effects. We find that especially excess liquidity in the U.S. leads developments in euro …

Persistent link: https://www.econbiz.de/10014404266

Hysteresis in labor markets? : evidence from professional long-term forecasts

Bluedorn, John Christopher; Leigh, Daniel - 2019

We explore the long-term impact of economic booms on labor market outcomes using a novel approach based on revisions to professional forecasts over the past 30 years for 34 advanced economies. We find that when employment rises unexpectedly, forecasters typically raise their long-term forecasts...

Persistent link: https://www.econbiz.de/10012022008

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