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The Brexit as a Forerunner : Monetary Policy, Economic Order and Divergence Forces in the European Union

Müller, Sebastian - 2018

We analyze the effects of the increasingly expansionary monetary policies on the economic order and on the European integration process. We argue that the market orders shaped in postwar Germany and in Margret Thatcher's United Kingdom have long served as cornerstones for growth, prosperity and...

Persistent link: https://www.econbiz.de/10012920113

The Brexit as a forerunner : monetary policy, economic order and divergence forces in the European Union

Müller, Sebastian; Schnabl, Gunther - 2018

Persistent link: https://www.econbiz.de/10011809903

The Brexit as a forerunner : monetary policy, economic order and divergence forces in the European Union

Schnabl, Gunther; Müller, Sebastian - In: The Economists' voice 16 (2019) 1, pp. 1-18

Persistent link: https://www.econbiz.de/10012157285

Regulierung, Deglobalisierung und Arbeitskräftemangel als Transmissionskanäle von der Geldpolitik zur Inflation

Schnabl, Gunther - 2023

Arbeitsmarktes beigetragen hat. Der negative Einfluss der Geldpolitik auf die Globalisierung wird auf Überinvestition in China sowie … die negativen Verteilungseffekte der Geldpolitik zurückgeführt. Das Ergebnis ist eine sich verfestigende … Konsumentenpreisinflation. Zur Bekämpfung der Inflation wird eine Fortsetzung des Ausstiegs der EZB aus der ultra- lockeren Geldpolitik …

Persistent link: https://www.econbiz.de/10014317118

30 Jahre nach dem Mauerfall. Ursachen für Konvergenz und Divergenz zwischen Ost- und Westdeutschland

Schnabl, Gunther; Sepp, Tim - In: List Forum für Wirtschafts- und Finanzpolitik 45 (2020) 4, pp. 397-421

Verteilungseffekte einer zunehmend lockeren europäischen Geldpolitik sowie der schleichende Verlust einer marktwirtschaftlichen Ordnung …

Persistent link: https://www.econbiz.de/10014504077

China’s financial conundrum and global imbalances

McKinnon, Ronald I.; Schnabl, Gunther - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

China’s financial conundrum arises from two sources: (1) its large trade (saving) surplusresults in a currency mismatch because it is an immature creditor that cannot lend in its own currency. Instead foreign currency claims (largely dollars) build up within domestic financialinstitutions. And...

Persistent link: https://www.econbiz.de/10009138502

A role model for China?: exchange rate flexibility and monetary policy in Japan

Schnabl, Gunther; Danne, Christian - 2007

Few papers have tried to project how Chinese monetary policy will behave under flexible exchange rates. As Japan provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary policy after the shift of Japan from a fixed to a...

Persistent link: https://www.econbiz.de/10010264171

Inflation targeting by debtor central banks in emerging market economies

Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - 2010

Given buoyant capital inflows and managed exchange rates the majority of emerging market central banks have continued to accumulate massive foreign reserves. If left unsterilized, the liquidity expansion can threaten domestic macroeconomic stability. To contain domestic inflation these central...

Persistent link: https://www.econbiz.de/10010270652

China's exchange rate impasse and the weak U.S. dollar

McKinnon, Ronald; Schnabl, Gunther - 2008

Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one-way bet has led to a loss of domestic monetary control. Combined with a more general flight from the U.S. dollar, the resulting monetary explosion in China...

Persistent link: https://www.econbiz.de/10010275871

The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy

Schnabl, Gunther; Danne, Christian - 2005

This paper studies the role of the yen/dollar exchange rate in the Bank of Japan?s monetary policy reaction function. In contrast to prior estimations of reaction functions based on the Taylor-rule, we allow for regime shifts by estimating rolling coefficients from January 1974 to March 1999....

Persistent link: https://www.econbiz.de/10010296337