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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
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
estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …
Persistent link: https://www.econbiz.de/10012291889
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
stability. To contain domestic inflation these central banks absorb rather then provide liquidity in their regular monetary … policy operations. Based on an augmented Barro-Gordon framework we show that inflation targeting within an environment of … implementing sterilization costs into the central bank's objective function the inflation bias increases. -- inflation targeting …
Persistent link: https://www.econbiz.de/10003994520
interest rates tends to distribute income towards higher income classes. This helps explain why consumer price inflation in …
Persistent link: https://www.econbiz.de/10012996802
interest rates tends to distribute income towards higher income classes. This helps explain why consumer price inflation in …
Persistent link: https://www.econbiz.de/10011428355
die Rückkehr zu symmetrischen Regeln in der Geld- und Finanzpolitik gefordert. -- Regeln ; Geldpolitik ; Finanzpolitik …
Persistent link: https://www.econbiz.de/10009233361
estimation results provide evidence that the Japanese monetary policy crisis management has contributed to declining efficiency …
Persistent link: https://www.econbiz.de/10011646717
Das Papier untersucht auf der Grundlage der monetären Überinvestitionstheorien von Wicksell (1898), Mises (1912) and Hayek (1929, 1935) das Scheitern von geld- und finanzpolitischen Regeln zur Kontrolle von übermäßigem Geldmengenwachstum und ausufernder Staatsverschuldung. Es zeigt...
Persistent link: https://www.econbiz.de/10010305985