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We first sketch how central banks have used unconventional monetary policy measures by using three indicators based on the composition of the balance sheet of eleven central banks. Our analysis suggests that although the ECB's balance sheet has increased dramatically during the crisis, the...
Persistent link: https://www.econbiz.de/10013080630
A major factor behind this crisis is financialization of the system, with a growing disconnect between the monetary and the real sector. Some proponents of the Islamic finance claim such financial crisis would have been avoided, if asset-backed Islamic finance were adopted. However, while...
Persistent link: https://www.econbiz.de/10014200507
Today, the world economy is at the brink of a major recession at zero lower bound. The recession has been fomented by the underconsumption induced by (i) the increasing income inequality, which is inherent in the neoliberal policymaking followed the last third of a century, and (ii) the...
Persistent link: https://www.econbiz.de/10013024596
: 1) Printing money and creating moderate inflation is necessary to help resolve the crisis; this policy was used …
Persistent link: https://www.econbiz.de/10014161383
Much has been written on the impact of the global financial crisis on Europe, Asia and the Americas but only little on the Arab states. This article makes an early attempt to take stock of recent developments in the Arab world and offers a systematic approach to disentangle the various...
Persistent link: https://www.econbiz.de/10013085831
Reserve, monetary policy shocks exerted a sizable positive contribution to output and inflation during the COVID-19 Crisis. …
Persistent link: https://www.econbiz.de/10014320690
At the time of publication, this article provided the most in-depth critique of capital account liberalization in any U.S. law journal. The article stemmed from a paper presented by the author to the Seventh Annual Conference of the United States-Mexico Law Institute in Santa Fe, New Mexico on...
Persistent link: https://www.econbiz.de/10014055934
Low and unresponsive inflation has been termed a “puzzle.” The paper describes a formula for which these conditions … variability of forward long-term inflation. Its U.S. inflation forecasts are comparable to recognized leaders in accuracy with … potential applicability to international economies as well.Inflation Elasticity, the responsiveness of inflation to monetary …
Persistent link: https://www.econbiz.de/10012858878
Two extraordinary inflation surprises of the last generation were the longstanding inflation shortfall from central … bank targets and now the pandemic inflationary.Inflation shortfalls can be attributed to characteristics of monetary … inflation. Compounding this problem is a base level of inflation from non-monetary causes, population growth and the natural …
Persistent link: https://www.econbiz.de/10013404759
Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...
Persistent link: https://www.econbiz.de/10013155688