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Inflation: Thruway of ECB's monetary policy
Seidl, Christian - 2023
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …
Persistent link: https://www.econbiz.de/10014000500
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Fiscal and monetary policy for difficult times: MMT solutions
Leclaire, Joëlle - In: European Journal of Economics and Economic Policies: … 20 (2023) 2, pp. 356-368
This article considers the current economic situation from the lens of modern money theory (MMT) and expresses a policy response rooted in post-Keynesian theory and empirical data for the US and the euro area. First, MMT supports targeted deficit spending to promote production. Increasing...
Persistent link: https://www.econbiz.de/10014481020
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After the Death of Inflation: Will Fiscal Drag Survive?
Heinemann, Friedrich - 2000
Declining inflation rates might have negative consequences for tax revenues. Phenomena like the inflationary bracket … lay the theoretical base followed by a descriptive view on the relation between inflation, growth and tax revenues in the … reveal that an end of inflation would have a negative impact on tax revenues for a number of OECD countries. The results also …
Persistent link: https://www.econbiz.de/10010297682
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Financialisation and the financial and economic crises: Theoretical framework and empirical analysis for 15 countries
Dodig, Nina; Hein, Eckhard; Detzer, Daniel - 2015
This paper analyses the long-run effects of financialisation and of the recent financial and economic crises for 15 countries. In order to provide a theoretical framework, we first outline three types of regimes under the conditions of financialisation, namely a debtled private demand boom, an...
Persistent link: https://www.econbiz.de/10011310221
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The relevance of Haavelmo's macroeconomic theorizing for contemporary macro policy making
Chand, Sheetal K. - 2012
The recent great financial crisis and the ensuing deep recessions have placed in sharp relief the fundamental issue of how financial factors, including financial instability, interact with the real economy. In order to understand the nature of these interactions and formulate policies that would...
Persistent link: https://www.econbiz.de/10010330242
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Smells Like Fiscal Policy? Assessing the Potential Effectiveness of the ECB's OMT Program
Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - 2014
This paper explores the potential effectiveness of the ECB's Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...
Persistent link: https://www.econbiz.de/10010333401
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Das Zahlungsverkehrssystem TARGET2 aus zahlungsbilanztheoretischer Sicht
Fahrholz, Christian - 2012
This article deals with the macro-economics of the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2). It is shown that TARGET2 contrib-utes to a misallocation of real resources. The discussion high-lights that there are no tendencies for rebalancing TARGET2...
Persistent link: https://www.econbiz.de/10010334480
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Will TARGET2-Balances be Reduced again after an End of the Crisis?
Fahrholz, Christian; Freytag, Andreas - 2012
This article deals with the macro-economics of the Trans-European Automated Re- al-time Gross Settlement Express Transfer System (TARGET2). Originally, the TARGET2 was in-tended to solely function as a monetary arrangement for liquidity issues. It is shown that the TARGET2 contributes to a...
Persistent link: https://www.econbiz.de/10010334521
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Impact of exchange rate depreciation on the balance of payments: Empirical evidence from Nigeria
Iyoboyi, Martins; Muftau, Olarinde - In: Cogent Economics & Finance 2 (2014) 1, pp. 1-23
improved to enhance exports, create employment, curb inflation and reduce poverty, while cutting non-productive imports …, attracting foreign private investment and implementing well coordinated macroeconomic policies that impact inflation positively …
Persistent link: https://www.econbiz.de/10011559118
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Credit subsidies
Correia, Isabel; De Fiore, Fiorella; Teles, Pedro; … - 2016
In a model with costly financial intermediation and financial disturbances, credit subsidies are desirable, irrespective of how they are financed. They are especially useful when the zero lower bound constraint is reached. They are superior to other credit policies such as direct lending.
Persistent link: https://www.econbiz.de/10011605922