Similar Search Results

Reasons for the demise of interest : savings glut and secular stagnation or central bank policy?

Mayer, Thomas; Schnabl, Gunther - 2019

In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...

Persistent link: https://www.econbiz.de/10012124862

Covid-19 and the euthanasia of interest rates : a critical assessment of central bank policy in our times

Mayer, Thomas; Schnabl, Gunther - In: Journal of policy modeling : JPMOD ; a social science … 43 (2021) 6, pp. 1241-1258

Persistent link: https://www.econbiz.de/10013264953

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

Monetary policy reform in a World of Central Banks

Schnabl, Gunther - 2011

monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … world economy. The backlash of high government debt levels on monetary policy making is argued to have led to a hysteresis … displacement of the prevalent world monetary system. Enhanced competition between dollar and euro as international currencies …

Persistent link: https://www.econbiz.de/10009508892

An Austrian defense of the Euro and the current antideflationist paranoia

Huerta de Soto, Jesús - In: Atlantic economic journal : AEJ 43 (2015) 1, pp. 5-20

Persistent link: https://www.econbiz.de/10010517122

Adverse effects of ultra-loose monetary policies on investment, growth and income distribution

Hoffmann, Andreas; Schnabl, Gunther - 2016

The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the monetary overinvestment theories of Hayek and Mises. We argue that ultra-loose monetary policies create incentives to substitute real investment by financial investment. When...

Persistent link: https://www.econbiz.de/10011428355

Central banking and crisis management from the perspective of Austrian business cycle theory

Schnabl, Gunther - 2016

The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek-Mises-Wicksell overinvestment framework. It is shown that, given that the traditional transmission mechanism between monetary policy and consumer price inflation has collapsed,...

Persistent link: https://www.econbiz.de/10011561161

Redicovering Mises-Hayek monetary and business cycle theory in light of the current crisis : credit expansion as a source of economic boom and bust

Mrowiec, Marcin - In: E-Finanse : finansowy kwartalnik internetowy 9 (2013) 2, pp. 64-74

The article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is...

Persistent link: https://www.econbiz.de/10010226596

The Age of Debt Bubbles : An Analysis of Debt Crises, Asset Bubbles and Monetary Policy

Rangeley, Max (ed.) - 2024

senior policy-makers from the world of politics and central banking who describe the negative effects of central bank …

Persistent link: https://www.econbiz.de/10015062713

Monetary Policy Reform in a World of Central Banks

Schnabl, Gunther - 2012

Persistent link: https://www.econbiz.de/10010334476