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Persistent link: https://www.econbiz.de/10004998593
During 1990s' the economy of Japan slipped into a long-sustained recession with strong deflation pressures. The aim of … macroeconomics, instead. One of them is liquidity trap that was highlighted by Paul Krugman's writings in the Japan's case. The paper … thus presents some of his rather unconventional opinions and confronts them with the Japan's economic developments in the …
Persistent link: https://www.econbiz.de/10005079064
Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national currency with the euro, but can choose when to request...
Persistent link: https://www.econbiz.de/10005767345
bubbles, a bubble itself is not sufficient to cause real-side disruption. What central bankers should learn from Japan …Did monetary ease in the 1980s cause Japan's bubble, as is often suggested? Drawing on both a new cross …-national consideration of the monetary policy-asset price linkage and a re-examination of what actually occurred in Japan 1985-1990, I …
Persistent link: https://www.econbiz.de/10009472319
»Deflation«, »Kreditklemme« und »Bankenkrise« waren die Schlagworte in derFinanzpresse des Jahres 2003. Insbesondere …
Persistent link: https://www.econbiz.de/10005013279
The Slovak Republic’s 2005 Article IV Consultation reports that sound macroeconomic management and a wide range of fundamental structural reforms are supporting nominal convergence with European Union norms. Real GDP growth accelerated to 6 percent in 2005, driven by an improvement in the...
Persistent link: https://www.econbiz.de/10011244180
A strong policy framework and improved income distribution and social outcomes have been important accomplishments in Brazil. The 2012 Article IV Consultation highlights that financial stability in Brazil has been underpinned by a strong banking system and framework for regulation and...
Persistent link: https://www.econbiz.de/10011244712
The staff report for the 2008 Article IV Consultation of Romania reviews the issues to tighten fiscal policy, putting less of the stabilization burden on the fledgling inflation-targeting framework. GDP growth has remained strong, underpinned by massive capital inflows. Executive Directors...
Persistent link: https://www.econbiz.de/10011244810
This paper presents the staff report for Peru’s 2008 Article IV Consultation, Fourth Review and Inflation Consultation under the Stand-By Arrangement and request for waiver of applicability of performance criteria. Peru has been liberalizing external trade through tariff reductions in...
Persistent link: https://www.econbiz.de/10011244871
This paper quantifies the dynamic effects of fiscal policy using a structural model, the Global Integrated Monetary and Fiscal Model (GIMF). The analysis finds that success of fiscal policy in enhancing macroeconomic stability depends on the type of shock, the response of monetary policy, and...
Persistent link: https://www.econbiz.de/10011244998