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. Der Harmonisierte Verbraucherpreisindex (HVPI) von Eurostat, auf den die EZB ihre Geldpolitik ausrichtet, berücksichtigt …
Persistent link: https://www.econbiz.de/10013343542
Historisch niedrige Inflationsraten und Warnungen vor Deflation in den Industrieländern gehen mit Exzessen auf den internationalen Finanzmärkten einher. Um Wachstum und Inflation wiederzubeleben, werden die Zentralbankbilanzen drastisch ausgeweitet, ohne dass die Inflationsraten deutlich...
Persistent link: https://www.econbiz.de/10010428173
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In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...
Persistent link: https://www.econbiz.de/10012124862
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Both Japan and parts of the European Monetary Union have experienced boom and bust in stock and real estate markets … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … expansion. Econometric estimations show that in Japan regional redistribution of funds has ensured homogeneous living conditions …
Persistent link: https://www.econbiz.de/10011476067
The paper analyses the impact of Japanese monetary policy crisis management on the Japanese banking sector since the 1998 Japanese financial crisis. It shows how low-cost liquidity provision as a means to stabilize banks has created a growing gap between deposits above lending and has compressed...
Persistent link: https://www.econbiz.de/10011646717
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The bursting of the Japanese bubble economy in the early 1990s put the stage for a lasting lowzero-, and negative-interest rate environment, which fundamentally changed the business environment for the Japanese commercial banks. On the income side, with interest margins becoming increasingly...
Persistent link: https://www.econbiz.de/10012391096