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Ursachen und Folgen der Niedrigzinsen: Enteignung der Sparer?
Schnabl, Gunther; Fahrenschon, Georg; Demary, Markus; … - In: ifo Schnelldienst 69 (2016) 13, pp. 3-18
Zinsen, und welche Folgen hat die Niedrigzinspolitik für Sparer und für Kunden von Versicherungen? Für Gunther Schnabl …, Universität Leipzig, ist die Bilanz dieser Geldpolitik negativ: »wenig Wachstum und einschneidende Nebeneffekte«. So führe die … Geldpolitik indirekt dazu, dass die von ihr verursachten Lasten des Krisenmanagements überproportional auf die junge Generation …
Persistent link: https://www.econbiz.de/10011694005
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan
Schnabl, Gunther; Danne, Christian - 2021
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/10013316946
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The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy
Schnabl, Gunther - 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/10014084106
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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
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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
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan
Schnabl, Gunther; Danne, Christian - CESifo - 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/10005405989
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The global move into the zero interest rate and high debt trap
Schnabl, Gunther - 2013
The paper identifies based on the monetary overinvestment (malinvestment) theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a benign neglect towards monetary policy reform in a...
Persistent link: https://www.econbiz.de/10009769015
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Die japanischen Lehren für die europäische Krise
Schnabl, Gunther - 2011
Japan hat nicht nur 15 Jahre vor Europa einen Boom-und-Krisen-Zyklus durchschritten, sondern auch wichtige Erfahrungen mit Krisentherapien in Form von monetärer Lockerung, expansiver Finanzpolitik und Rekapitalisierung von Finanzinstituten gemacht. Japan hat die Nullzinsgrenze bereits 1999...
Persistent link: https://www.econbiz.de/10009656349
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Adverse effects of unconventional monetary policy
Hoffmann, Andreas; Schnabl, Gunther - In: The Cato journal : an interdisciplinary journal of … 36 (2016) 3, pp. 449-484
Persistent link: https://www.econbiz.de/10011558591
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Exit strategies from monetary expansion and financial repression
Schnabl, Gunther - In: The Cato journal : an interdisciplinary journal of … 38 (2018) 2, pp. 447-465
Persistent link: https://www.econbiz.de/10011981467