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Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...
Persistent link: https://www.econbiz.de/10008648332
We argue that strong globalization forces have been an important determinant of globalreal interest rates over the last five decades, as they have been key drivers of changes inthe natural real interest rate-i.e. the interest rate consistent with output at its potentialand constant inflation. An...
Persistent link: https://www.econbiz.de/10012868461
sustainable growth of their business. The transition from recession to recovery presents unique opportunities and challenges to … University, on the theme of “Global Recession to Global Recovery: Opportunity, Challenges and Strategies for Sustainable Growth …”. With the primary objective of developing collective strategies for sustainable growth and development from various …
Persistent link: https://www.econbiz.de/10013110884
There is a consensus among the majority of economists that the credit supply is limited by current household saving. If governments or foreigners ran deficits, they would absorb this limited saving so that firms could not borrow any longer and had to reduce their investment. This is the...
Persistent link: https://www.econbiz.de/10011300962
This paper provides a critical analysis of the possible methods, data sources and the existing results of the field of 'the economic costs of mass violent conflict' by identifying strengths and weaknesses of the existing literature. The report evaluates content, methods, and data sources of the...
Persistent link: https://www.econbiz.de/10011438798
emerging market economies. Expansionary monetary policies in response to the burst of bubbles are argued to have contributed to … vagabonding bubbles around the globe. …
Persistent link: https://www.econbiz.de/10010264212
Persistent link: https://www.econbiz.de/10010311802
This paper applies Hyman Minsky’s approach to provide an analysis of the causes of the global financial crisis. Rather than finding the origins in recent developments, this paper links the crisis to the long-term transformation of the economy from a robust financial structure in the 1950s to...
Persistent link: https://www.econbiz.de/10003943049
Persistent link: https://www.econbiz.de/10009554282
We show that political booms, measured by the rise in governments’ popularity, predict financial crises above and beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in emerging economies. We show that governments in emerging...
Persistent link: https://www.econbiz.de/10010398976