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Bad for Euroland, worse for Germany: the ECB's record
Bibow, Jörg - 2005
This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...
Persistent link: https://www.econbiz.de/10010266550
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Political economy of growth regimes in Poland and Turkey
Akcay, Ümit; Jungmann, Benjamin - 2022
In this paper, we aim to contribute to the recently growing body of political economy literature on growth regimes. Theoretically, we apply the demand and growth regime approach developed within post-Keynesian macroeconomics. This is complemented by a critical comparative political economy...
Persistent link: https://www.econbiz.de/10013412264
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Growth models, power blocs and authoritarianisms in Turkey and Egypt in the 21st century
Güngen, Ali Rıza; Akçay, Ümit - 2023
Analysis of the growth patterns in the global South in the 21st century suggests there is room for authoritarian states to search for new growth models. Authoritarian states, such as Turkey and Egypt, benefited from global financial circumstances in the early 21st century and opted for new...
Persistent link: https://www.econbiz.de/10014000494
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Monetary policy communication: Evidence from Survey Data
Popovska-Kamnar, Neda - 2017
This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central Eastern and South-Eastern Europe and the euro area. The main objective of this Survey was to draw evidence on the level of transparency and communication strategies of the...
Persistent link: https://www.econbiz.de/10011785370
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Fiscal fragility: what the past may say about the future
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...
Persistent link: https://www.econbiz.de/10010287758
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Fiscal fragility: What the past says about the future
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...
Persistent link: https://www.econbiz.de/10010288164
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Argentina's (macroeconomic?) trap: Some insights from an empirical stock-flow consistent model
Valdecantos, Sebastian - 2020
The Argentinean economy has just ended another lost decade. After the peak registered in 2011, the per capita GDP has oscillated with a decreasing trend, leaving the economy poorer than it was ten years before. During these ten years, different governments with conflicting macroeconomic programs...
Persistent link: https://www.econbiz.de/10012610203
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Zur Zukunft der Europäischen Union aus ordnungspolitischer Perspektive
Schnabl, Gunther; Müller, Sebastian - 2017
Der Artikel untersucht die Auswirkungen der sehr lockeren Geldpolitik der Europäischen Zentralbank auf die … Zusammenhalt in Europa war. Es wird gezeigt, dass die Geldpolitik der Europäischen Zentralbank mit Euckens (1952) konstituierenden … sehr lockeren Geldpolitik empfohlen, um die Zukunft der Europäischen Union zu sichern. …
Persistent link: https://www.econbiz.de/10011742465
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Federal reserve policies and financial market conditions during the crisis
Brave, Scott A.; Genay, Hesna - 2011
During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of these policies on broad financial market conditions,...
Persistent link: https://www.econbiz.de/10010292196
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An early experiment with "permazero"
Quinn, Stephen F.; Roberds, William - 2017
We investigate a monetary regime with persistent, near-zero policy interest rates ("permazero" in the terminology of Bullard 2015). This regime was implemented in 1683 by a prominent early central bank called the Bank of Amsterdam ("Bank"). The Bank fixed its policy rate at one-half percent and...
Persistent link: https://www.econbiz.de/10012030297