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This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regime and macroeconomic policy regime assessment. Examining each of the four business cycles in the 1983-2020 period, roughly encompassing the entirety of the...
Persistent link: https://www.econbiz.de/10014516158
In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness. The model features long-term fixed-rate...
Persistent link: https://www.econbiz.de/10010457935
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We provide a comprehensive account of the dynamics of eurozone countries from 2000 to 2012. We analyze private leverage, fiscal policy, labor costs and interest rates and we propose a strategy to separate the impact of credit cycles, excessive government spending, and sudden stops. We then ask...
Persistent link: https://www.econbiz.de/10013045645
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We provide a comprehensive account of the dynamics of eurozone countries from 2000 to 2012. We analyze private leverage, fiscal policy, labor costs and interest rates and we propose a strategy to separate the impact of credit cycles, excessive government spending, and sudden stops. We then ask...
Persistent link: https://www.econbiz.de/10012458093
-- Neuorientierung der Regulierungspolitik -- Die Politik der Bewältigung der Schuldenkrise im Euroraum -- Die Geldpolitik der … Europäischen Semesters dargestellt. Eine besondere analytische Relevanz kommt dabei der Geldpolitik der Europäischen Zentralbank …
Persistent link: https://www.econbiz.de/10011765404
The importance of liquidity and insolvency for nation states and banks has been highlighted by current economic woes in … full circle. Discussing some modern authors, it is argued that the concepts of liquidity and insolvency are connected … remove problems of illiquidity and insolvency in the financial system. Illiquidity and insolvency are signals of stress in …
Persistent link: https://www.econbiz.de/10011553939