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In a contribution prepared for the Athens Symposium on “Banking Union, Monetary Policy and Economic Growth”, Otmar Issing describes forward guidance by central banks as the culmination of the idea of guiding expectations by pure communication. In practice, he argues, forward guidance has...
Persistent link: https://www.econbiz.de/10010366280
In the wake of the Global Financial Crisis that started in 2007, policymakers were forced to respond quickly and forcefully to a recession caused not by short-term factors, but rather by an over-accumulation of debt by sovereigns, banks, and households: a so-called "balance sheet recession."...
Persistent link: https://www.econbiz.de/10010362902
alternativen Währungssystemen sowie dessen fundamentaler Kritik an der Möglichkeit zur Gestaltung der Geldpolitik auf … für die dauerhafte Durchführung einer stabilitätsorientierten Geldpolitik hervorgehoben. Gleichwohl ergeht der Hinweis …
Persistent link: https://www.econbiz.de/10011858739