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"Financial crisis" is sometimes regarded as synonymous with "economic crisis", but this is an oversimplification and …
Persistent link: https://www.econbiz.de/10012520029
We examine the use of central bank capital as an unconventional monetary policy tool. In this setting, a central bank employs digital currency to transfer digital cash to each household, thus supporting consumption directly when needed. The asset side of the central bank's balance sheet remains...
Persistent link: https://www.econbiz.de/10011906669
This study analyzes the emergence of secular stagnation as the consequence of a rise in the preference for liquidity. Such a rise is caused by a persistent set of pessimistic expectations. This study also investigates the effectiveness of a broad range of demand-management policies in dealing...
Persistent link: https://www.econbiz.de/10010430693
The effectiveness of government policies and economic stimuli during the 2007 financial crisis and the COVID-19 … pandemic are compared in this study. While the 2007 financial crisis started in the real estate market and spread through the … quantitative easing prevalent after the 2007 financial crisis, direct payments to households and businesses. The Agent Instability …
Persistent link: https://www.econbiz.de/10013273659
, which have been followed by a lasting crisis. The paper analyses the role of a high degree of regional heterogeneity for … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … across Japanese regions pre- and post-crisis. The side condition is monetary expansion. A similar effect could emerge in …
Persistent link: https://www.econbiz.de/10011476067
Persistent link: https://www.econbiz.de/10010390863
Persistent link: https://www.econbiz.de/10013166409
From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered … interest rates. Both sets of changes are at odds with an anti-inflationary stance of monetary policy; indeed, as the crisis … Taylor rules for our economy that are consistent with a strong pro-inflationary reaction during financial crisis while …
Persistent link: https://www.econbiz.de/10011605268
Sixteen countries across the world ¡ª including the United States and many European nations ¡ª have fallen into economic crises since the late 1990s. In <em>The Limits of Fiscal, Monetary, and Trade Policies: International Comparisons and Solutions</em>, Jonathan E Leightner convincingly argues that...
Persistent link: https://www.econbiz.de/10011010979
profitability after the crisis of the 1970s, and has caused an erosion of salary and social conquests attained by labor after the …
Persistent link: https://www.econbiz.de/10009467886