efficiency of investment as well as to declining fixed capital investment due to digitalization (secular stagnation). In contrast … permanently. Furthermore, we find no empirical evidence for the global savings glut and secular stagnation hypotheses. Instead …

respect to the performance of the Bank of England, the Bank of Japan, the European Central Bank, and the Federal Reserve. Our …

respect to the performance of the Bank of England, the Bank of Japan, the European Central Bank, and the Federal Reserve. Our …

accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve … Japan, Bank of England und Federal Reserve System). Im zweiten Teil stellen wir eine Theorie über die Rechenschaftspflicht … Geldpolitik und die Frage, wer die endgültige Verantwortung für die Geldpolitik trägt. Das Papier zeigt auf, dass die …