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Covid-19 and the euthanasia of interest rates : a critical assessment of central bank policy in our times
Mayer, Thomas; Schnabl, Gunther - In: Journal of policy modeling : JPMOD ; a social science … 43 (2021) 6, pp. 1241-1258
Persistent link: https://www.econbiz.de/10013264953
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Reasons for the demise of interest : savings glut and secular stagnation or central bank policy?
Mayer, Thomas; Schnabl, Gunther - 2019
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...
Persistent link: https://www.econbiz.de/10012124862
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The failure of ECB monetary policy from a Mises-Hayek perspective
Schnabl, Gunther - 2017
The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary policy contributed to unsustainable overinvestment booms...
Persistent link: https://www.econbiz.de/10011619626
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Hayek's overinvestment theory and the stability of the Euro area
Schnabl, Gunther - In: The Emergence of a Tradition: Essays in Honor of Jesús …, (pp. 293-305). 2023
Persistent link: https://www.econbiz.de/10014309389
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Monetary policies of large industrialised countries, emerging market credit cycles and feedback effects
Andreas, Hoffmann; Schnabl, Gunther - 2014
. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of …
Persistent link: https://www.econbiz.de/10010337620
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Monetary policy reform in a World of Central Banks
Schnabl, Gunther - 2011
monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … world economy. The backlash of high government debt levels on monetary policy making is argued to have led to a hysteresis … displacement of the prevalent world monetary system. Enhanced competition between dollar and euro as international currencies …
Persistent link: https://www.econbiz.de/10009508892
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Challenges for monetary and fiscal policy in a post-Covid-19 order
Schnabl, Gunther - In: The Economists' voice 18 (2021) 1, pp. 1-3
Persistent link: https://www.econbiz.de/10012805949
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Monetary policies of industrial countries, emerging market credit cycles and feedback effects
Hoffmann, Andreas; Schnabl, Gunther - In: Journal of policy modeling : JPMOD ; a social science … 38 (2016) 5, pp. 855-873
Persistent link: https://www.econbiz.de/10011671704
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Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?
Mayer, Thomas - 2019
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...
Persistent link: https://www.econbiz.de/10012860212
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Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?
Schnabl, Gunther - 2019
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...
Persistent link: https://www.econbiz.de/10012858697