Showing 1 - 10 of 108
This paper discusses recent UK monetary policies as instances of John Kenneth Galbraith’s “innocent fraud,” including the idea that money is a thing rather than a relationship, the fallacy of composition (i.e., that what is possible for one bank is possible for all banks), and the belief...
Persistent link: https://www.econbiz.de/10008664033
’s predicament. To keep its own house in order in the future, Euroland must shun the outdated “stability oriented” policy wisdom …-area imbalances ; competitiveness positions ; policy coordination ; tax-push inflation ; financial supervision ; mercantilism …
Persistent link: https://www.econbiz.de/10003943124
Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial …, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else … aggregate debt loads are rendering monetary- and fiscal policy-impaired governments and segments of society insolvent and …
Persistent link: https://www.econbiz.de/10009503821
This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that the crisis is not primarily a "sovereign debt crisis" but rather a (twin) banking and balance of payments crisis. Intra-area competitiveness and current account imbalances, and...
Persistent link: https://www.econbiz.de/10009533362
. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under … recession and protracted stagnation. The study also finds that expectations regarding the ECB’s latest policy initiatives may be … shifting the emphasis toward fiscal policy; specifically, by partnering the ECB with a "Euro Treasury" that would serve as a …
Persistent link: https://www.econbiz.de/10011349470
German authorities to understand that their policy prescriptions are anything but in Germany's own best interest, which is … EU, most likely under French leadership, will have to convince Germany to embark on a fundamental policy course change …
Persistent link: https://www.econbiz.de/10009757118
Central banks responded with exceptional liquidity support during the financial crisis to prevent a systemic meltdown. They broadened their tool kit and extended liquidity support to nonbanks and key financial markets. Many want central banks to embrace this expanded role as "market maker of...
Persistent link: https://www.econbiz.de/10010356675
monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal … the consequences of such policy measures in India, particularly during the period of the global recession. Not only did … India, this paper concludes that such monetarist policy measures have been responsible for stagnation, with a rise in price …
Persistent link: https://www.econbiz.de/10010385761
In December 2015, the Federal Reserve Board (FRB) initiated the process of "normalization," with the objective of gradually raising the federal funds rate back to "normal"-i.e., levels that are "neither expansionary nor contrary" and are consistent with the established 2 percent longer-run goal...
Persistent link: https://www.econbiz.de/10011546686
of vigorous fiscal policy and employment creation to induce a higher expected marginal efficiency of capital, while the …
Persistent link: https://www.econbiz.de/10011453035