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On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...
Persistent link: https://www.econbiz.de/10012142063
On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...
Persistent link: https://www.econbiz.de/10011959260
successful monetary policy. During the hardest phase of the most recent crisis, the central banks worldwide, for example, U …
Persistent link: https://www.econbiz.de/10011109596
efficient tool of successful monetary policy. During the hardest phase of the most recent crisis, the central banks worldwide …
Persistent link: https://www.econbiz.de/10011110135
standards, the housing boom and bust - and the subsequent financial crisis and recession - would have been averted. In this … bust, and that the many reform ideas currently proposed would have done little or nothing to avert the crisis … credit default swaps for investors is to blame for the financial crisis. We find little evidence for this. Housing data …
Persistent link: https://www.econbiz.de/10013155688
The paper addresses the issue of how debt deflation may arise in a capitalist economy with a sophisticated credit system. It argues that the standard argument of debt deflationists, that debt-financed investment causes a build-up of unsustainable investment, fails to recognise that debt is back...
Persistent link: https://www.econbiz.de/10010665081
international response to the 2007-2008 financial crisis. Particularly, the liquidity coverage ratio (LCR) introduced by the Basel … III accord is the first global standard for banking liquidity management. Does this requirement work? And what …
Persistent link: https://www.econbiz.de/10011587854
international response to the 2007–2008 financial crisis. Particularly, the liquidity coverage ratio (LCR) introduced by the Basel … III accord is the first global standard for banking liquidity management. Does this requirement work? And what …
Persistent link: https://www.econbiz.de/10011587669
[Part I] This volume begins with an introduction to Marx's theory of capitalism in his own words, with his examples modernized from use of shillings and pence as subdivisions of the Pound. [Part II] Well-known work in 1901 on the theory of crises in capitalism by Michael Tugan-Baranowsky is...
Persistent link: https://www.econbiz.de/10011193717
the Greek fiscal crisis influenced short- and mediumterm inflation expectations but had only a very small impact on long …
Persistent link: https://www.econbiz.de/10008861749