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The Law and Economics of Quantitative Easing

Johnston, Andrew - 2016

In this paper we argue that, in substance, the Quantitative Easing (QE) programmes introduced by central banks around the world amount to monetary financing of government deficits. As such, these programmes are unlawful under the Treaty on the Functioning of the European Union (TFEU). However,...

Persistent link: https://www.econbiz.de/10013006221

A critique of the New Consensus view of monetary policy

Kriesler, Peter; Lavoie, Marc - In: The economic and labour relations review : ELRR 16 (2005) 1, pp. 7-15

Persistent link: https://www.econbiz.de/10003328775

How structural are structural parameters?

Fernández-Villaverde, Jesús; Rubio-Ramírez, Juan … - In: NBER macroeconomics annual 22 (2007), pp. 83-167

Persistent link: https://www.econbiz.de/10003824279

How structural are structural parameters?

Fernández-Villaverde, Jesús; Rubio-Ramírez, Juan … - 2007

This paper studies how stable over time are the so-called "structural parameters" of dynamic stochastic general equilibrium (DSGE) models. To answer this question, we estimate a medium-scale DSGE model with real and nominal rigidities using U.S. data. In our model, we allow for parameter...

Persistent link: https://www.econbiz.de/10003486243

The new consensus on monetary policy and its post-Keynesian critique

Kriesler, Peter; Lavoie, Marc - In: Review of political economy 19 (2007) 3, pp. 387-404

Persistent link: https://www.econbiz.de/10003525542

Are earthquakes needed to shake economics?

Schettkat, Ronald - 2010

–“natural rate theory”- dominated interpretations of economic trends and policy prescriptions since the 1970s. Public policy …. Economic trends were filtered through the lens of the “natural rate theory,” focusing on labor market institutions only and … confronts the economic trends with the interpretations of the “natural rate theory” and argues that they hardly fitting the …