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The failure of ECB monetary policy from a Mises-Hayek perspective

Schnabl, Gunther - 2017

The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary policy contributed to unsustainable overinvestment booms...

Persistent link: https://www.econbiz.de/10011619626

Causes of the outbreak of the Eurozone crisis : the role of the USA and the European Central Bank monetary policy

Białek, Natalia - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 2, pp. 47-63

This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...

Persistent link: https://www.econbiz.de/10011402491

Central Banks Caught Between Market Liquidity and Fiscal Disciplining : A Money View Perspective on Collateral Policy

Vestergaard, Jakob; Gabor, Daniela - 2021

Despite much attention to unconventional monetary policies after the financial crisis, the collateral policies of … tend not to be analyzed. An exception to these trends is the recent work by Nyborg (2017), who argues that the collateral … response, we identify core principles for countercyclical collateral policies suitable for market-based financial systems …

Persistent link: https://www.econbiz.de/10013312143

Minsky, monetary policy, and mint street : challenges for the art of monetary policymaking in emerging economies

Yanamandra, Srinivas - 2014

This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...

Persistent link: https://www.econbiz.de/10010436173

Unconventional monetary policies and central bank profits : seigniorage as fiscal revenue in the aftermath of the global financial crisis

Bibow, Jörg - 2018

This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the aftermath of the global financial crisis of 2008-9, focusing on a select group of central banks - namely the Bank of England, the United States Federal Reserve System, the Bank of...

Persistent link: https://www.econbiz.de/10011910944

Can the euro be saved? : an analysis of the future of the currency union

Stiglitz, Joseph E. - In: Rivista di politica economica 103 (2014) 7/9, pp. 7-42

Persistent link: https://www.econbiz.de/10010434176

Collapse. The story of the international financial crisis, its causes and policy consequences

Plessis, Stan du - Department of Economics, Fakulteit Ekonomiese en … - 2011

This paper is the story of success and failure in the financial markets, the markets for goods and services and in politics. It is a difficult story to tell because the crisis had many causes, but the focus here is on three main factors. First, the incentives that contributed to a credit-fuelled...

Persistent link: https://www.econbiz.de/10008862667

Update to figure 1 in "Macroeconomic Shocks and their Propagation"

Chiarotti, Edoardo - 2021

a shock in the Federal Funds Rate, following the baseline and variations of the Vector Autoregression (VAR) models in …

Persistent link: https://www.econbiz.de/10012416282

Fiscal Consolidation in an Open Economy

Lindé, Jesper - 2012

This paper uses a New Keynesian DSGE model of a small open economy to compare how the effects of fiscal consolidation differ depending on whether monetary policy is constrained by currency union membership or by the zero lower bound on policy rates. We show that there are important differences...

Persistent link: https://www.econbiz.de/10013106226

The COVID-19 Shock and a Fiscal-Monetary Policy Mix in a Monetary Union

Bartocci, Anna; Notarpietro, Alessandro; Pisani, … - 2021

union in response to the COVID-19 shock. The pandemic is modelled as a mix of recessionary demand and supply shocks …

Persistent link: https://www.econbiz.de/10013233159

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