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Japan's low inflation conundrum
Mayer, Thomas; Schnabl, Gunther - 2022
The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … high inflation to a low-growth period with exceptionally low inflation since the early 1990s. We show based on a stylized …
Persistent link: https://www.econbiz.de/10013284915
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Symmetrische Regeln und asymmetrisches Handeln in der Geld- und Finanzpolitik
Hoffmann, Andreas; Schnabl, Gunther - 2011
die Rückkehr zu symmetrischen Regeln in der Geld- und Finanzpolitik gefordert. -- Regeln ; Geldpolitik ; Finanzpolitik …
Persistent link: https://www.econbiz.de/10009233361
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Symmetrische Regeln und asymmetrisches Handeln in der Geld- und Finanzpolitik
Schnabl, Gunther; Hoffmann, Andreas - In: Gute Regeln oder Wirtschaftslenkung? : Europas neue …, (pp. 101-117). 2011
Persistent link: https://www.econbiz.de/10014567166
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Macroeconomic policy making, exchange rate adjustment and current account imbalances in emerging markets
Duarte, Pablo; Schnabl, Gunther - In: Review of development economics 19 (2015) 3, pp. 531-544
Persistent link: https://www.econbiz.de/10011396782
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Macroeconomic policy making, exchange rate adjustment and current account imbalances in emerging markets
Duarte, Pablo; Schnabl, Gunther - 2014
Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...
Persistent link: https://www.econbiz.de/10010431297
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Macroeconomic policy making and current account imbalances in the euro area
Murai, Taiki; Schnabl, Gunther - In: Credit and capital markets : Kredit und Kapital 54 (2021) 3, pp. 347-373
Persistent link: https://www.econbiz.de/10012803290
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Macroeconomic policy making and current account imbalances in the euro area
Murai, Taiki; Schnabl, Gunther - 2021
The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...
Persistent link: https://www.econbiz.de/10012550195
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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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Monetary policy and wandering overinvestment cycles in East Asia and Europe
Schnabl, Gunther - 2017
The paper analyses the role of monetary policy for cyclical movements of investment and asset markets in East Asia and Europe based on a Mises-Hayek overinvestment framework. It is shown how the gradual global decline of interest rates has triggered wandering overinvestment cycles in Japan,...
Persistent link: https://www.econbiz.de/10011655779
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Regional heterogeneity, the rise of public debt and monetary policy in post-bubble Japan : lessons for the EMU
Fischer, Raphael; Schnabl, Gunther - In: International economics and economic policy : IEEP 15 (2018) 2, pp. 405-428
Persistent link: https://www.econbiz.de/10011955300