monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … of the liquidity trap. In this context, monetary reform is discussed with respect to the exit from low interest rate and …

monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … of the liquidity trap. In this context, monetary reform is discussed with respect to the exit from low interest rate and …

monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … of the liquidity trap. In this context, monetary reform is discussed with respect to the exit from low interest rate and …

benign neglect towards monetary policy reform in a world dominated by financial markets has led to a erosion of the … hysteresis of low interest rates and high government debt levels. In this context, monetary reform is discussed with respect to … the exit from low interest rates and high debt policies and a reform of the prevalent world monetary system. It is …

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 … accounting model, how funds are created in a country open to international capital flows by domestic savings, credit creation of …

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …