The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the … substitute real investment by financial investment. When interest rates are expected to fall in the long term, the marginal and …

The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the … substitute real investment by financial investment. When interest rates are expected to fall in the long term, the marginal and …

wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical … deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1995 to … evidence in favour of capital inflow-driven real wage increases in excess of productivity increases. …

wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical … deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1995 to … evidence in favour of capital inflow-driven real wage increases in excess of productivity increases. …

For a long time, China’s impressive growth performance has been driven by investment and high productivity gains. Based … sustainability of China’s investment- and export-driven growth model. It is shown that since the turn of the millennium buoyant …

This paper studies the role of the yen/dollar exchange rate in the Bank of Japan?s monetary policy reaction function …

appreciation of the Japanese yen forced the Japanese enterprises into price reductions and productivity increases, which put a …