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Asian central banks into debtor positions versus the domestic banking systems. We show based on a central bank loss function … financial repression, or rising inflation or both. Assuming that a debtor central bank moved towards a freely floating exchange …
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In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...
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