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The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...
Persistent link: https://www.econbiz.de/10013081055
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...
Persistent link: https://www.econbiz.de/10009743745
This paper proposes a new approach to EMU governance and integration consisting of the following elements: (i) an optimal use of the existing EU institutional framework for economic, fiscal and financial policies is necessary and possible at each level of EMU integration that is politically...
Persistent link: https://www.econbiz.de/10014078175
Persistent link: https://www.econbiz.de/10009705741
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
Germany have publicly supported the euro in the weeks before a bailout program got enacted by the European Council in July … der Banken-Mindestreserve einen negativen Einfluß auf die Volatilität der M2-Geldmenge und der Inflationsrate hat. Dies … der Eurokrise - den Euro öffentlich in einer Anzeigenkampagne unterstützten. Während die Firmeninteressen anscheinend …
Persistent link: https://www.econbiz.de/10011742243
The reaction of the European Union to the financial crisis consisted mainly in uncoordinated national plans. A real European recovery plan would have been more effective, but it was not possible because the EU has not a federal budget and a federal government. There are some European public...
Persistent link: https://www.econbiz.de/10013145335
Persistent link: https://www.econbiz.de/10010199535
Persistent link: https://www.econbiz.de/10011519074
Persistent link: https://www.econbiz.de/10000621251