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Abstract Proponents of liberal economic policies in the financial market often refer to the moral and economic authority of Adam Smith, the founder of economics as a science, to add weight to their recommendations. They think, they can do so, because Adam Smith is in these circles considered a...
Persistent link: https://www.econbiz.de/10014630814
Purpose – The purpose of this paper is to demonstrate that both the reputation of the monetary authority and the credibility of the regime of inflation targeting are important to reduce the inflation bias and the effort of the monetary authority in an emerging economy....
Persistent link: https://www.econbiz.de/10014864629
There is empirical evidence that government actions and interventions prolonged and worsened the financial crisis, because they were based on faulty diagnosis of the problem and did not follow clear predictable principles.
Persistent link: https://www.econbiz.de/10015360096
This case study of fiscal sustainability in Turkey after the crisis in 2001 reviews and extends quantitative approaches to fiscal sustainability analysis and brings them together in a user-friendly tool applicable in a data-sparse environment. It combines a dynamic simulations approach with a...
Persistent link: https://www.econbiz.de/10015360577
Zielkonflikt für die Geldpolitik kommt, wäre in diesem Szenario eine Zinserhöhung trotz drohender Deflation unter Umständen …
Persistent link: https://www.econbiz.de/10014630777
Abstract From an analysis of the uncertainties, deficiencies and negative effects of the present monetary system the necessity and the requirements for a new monetary order are derived. These requirements are fulfilled by the presented regulations of a monetary order, which is based on the...
Persistent link: https://www.econbiz.de/10014630799
konfrontiert. Es wird argumentiert, dass die Geldpolitik der großen Industrieländer indirekt eine wichtige Bestimmungsgröße dieser … durch die Geldpolitik der großen Industrieländer verstärkte soziale Missstände interpretiert.  …
Persistent link: https://www.econbiz.de/10014630857
Summary In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange...
Persistent link: https://www.econbiz.de/10014608656
Souveränität in geldpolitischen Fragen an die Europäische Zentralbank ab. Die Geldpolitik scheidet somit als Instrument der … Rezession) zukommt, so kann die Vereinheitlichung der Geldpolitik zu negativen Auswirkungen auf die konjunkturelle Entwicklung … Geldpolitik auf die Entwicklung der kurzfristigen Zinssätze analysiert, um schließlich mittels einer VAR-Analyse Aufschluß über …
Persistent link: https://www.econbiz.de/10014608685
Summary This paper investigates the borrowing behavior of 2,900 French and 1,300 German firms over the 1987-95 period. Both samples based on data sets of the Banque de France and the Deutsche Bundesbank not only include large but also small and medium-sized enterprises. Applying GMM techniques,...
Persistent link: https://www.econbiz.de/10014608858