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Monetary Policy in a Downturn : Are Financial Crises Special?
Bech, Morten L. - 2014
Accommodative monetary policy during the financial crisis was instrumental in preventing a deeper recession. Views differ, however, on how long such measures should be kept in place. At the heart of this debate is the notion that a protracted period of policy accommodation could create...
Persistent link: https://www.econbiz.de/10013065335
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A Global Equilibrium Model of Sudden Stops and External Liquidity Management
Caballero, Ricardo J.; Panageas, Stavros - 2008
Emerging market economies, which have much of their growth ahead of them, either run or should run persistent current account deficits in order to smooth consumption intertemporally. The counterpart of these deficits is their dependence on capital inflows, which can suddenly stop. We make two...
Persistent link: https://www.econbiz.de/10014219484
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Managing capital flows in the presence of external risks
Reyes-Heroles, Ricardo; Tenorio, Gabriel - 2017
We introduce external risks, in the form of shocks to the level and volatility of world interest rates, into a small open economy model subject to the risk of sudden stops—large recessions together with abrupt reversals in capital inflows| and characterize optimal macroprudential policy in...
Persistent link: https://www.econbiz.de/10011779580
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Europe, where to?
Ioan-Franc, Valeriu; Pop, Napoleon; Diamescu, Andrei Marius - In: Amfiteatru economic : an economic and business research … 25 (2023) 63, pp. 610-624
The authors review the challenges that the Romanian economy and society had to face in the European and global geoeconomic context. Starting from the perspectives advanced by the international economic fora, the risks the European economy will have to answer through counteracting and general...
Persistent link: https://www.econbiz.de/10014464256
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The European Public Debt Refinancing Program - Why the ECB Quantitative Easing Should Envisage Euro-Zone Government Bonds
Minenna, Marcello - 2014
undertake a path of sustainable growth for all the member countries: the European Public Debt Refinancing Program …
Persistent link: https://www.econbiz.de/10013047170
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Policy Packages and Policy Space : Lessons from COVID-19
Bergant, Katharina; Forbes, Kristin - National Bureau of Economic Research - 2023
--although advanced economies with higher debt levels may have been constrained in how they provided stimulus (with more below …
Persistent link: https://www.econbiz.de/10014287372
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Using inflation to erode the US public debt
Aizenman, Joshua; Marion, Nancy - 2009
inflate. It suggests that when economic growth is stalled, the U.S. debt overhang may trigger an increase in inflation of … about 5 percent for several years. This additional inflation would significantly reduce the debt ratio, even with some …As a share of GDP, the U.S. Federal debt held by the public exceeds 50 percent in FY2009, the highest debt ratio since …
Persistent link: https://www.econbiz.de/10010287762
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Using inflation to erode the US public debt
Aizenman, Joshua; Marion, Nancy - 2009
inflate. It suggests that when economic growth is stalled, the U.S. debt overhang may trigger an increase in inflation of … about 5 percent for several years. This additional inflation would significantly reduce the debt ratio, even with some …As a share of GDP, the U.S. Federal debt held by the public exceeds 50 percent in FY2009, the highest debt ratio since …
Persistent link: https://www.econbiz.de/10010288128
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Using inflation to erode the US public debt
Aizenman, Joshua; Marion, Nancy Peregrim - 2009
inflate. It suggests that when economic growth is stalled, the U.S. debt overhang may trigger an increase in inflation of … about 5 percent for several years. This additional inflation would significantly reduce the debt ratio, even with some …As a share of GDP, the U.S. Federal debt held by the public exceeds 50 percent in FY2009, the highest debt ratio since …
Persistent link: https://www.econbiz.de/10003943689