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The failure of ECB monetary policy from a Mises-Hayek perspective
Schnabl, Gunther - 2017
combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary …
Persistent link: https://www.econbiz.de/10011619626
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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 - 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; Danne, Christian - Wirtschaftswissenschaftlichen Fakultät, … - 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/10009149246
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The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy
Schnabl, Gunther; Danne, Christian - EconWPA - 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/10005119427
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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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Ursachen und Folgen der Niedrigzinsen: Enteignung der Sparer?
Schnabl, Gunther; Fahrenschon, Georg; Demary, Markus; … - In: ifo Schnelldienst 69 (2016) 13, pp. 3-18
Die Europäische Zentralbank hat die Leitzinsen auf null gesenkt und verlangt von Banken inzwischen Negativzinsen für …, 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 - 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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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