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Supermultiplier models, demand stagnation, and monetary policy: Inevitable march to the lower bound for interest rates?

Fazzari, Steven M. - 2024

This article integrates monetary policy into a very simple dynamic supermultiplier model with an accommodating supply side. Results show that monetary policy guided by a conventional Taylor rule may stabilize an economy around the steady-state path of demand-led growth following temporary demand...

Persistent link: https://www.econbiz.de/10014546874

Buy gold now : how a real estate bust, our bulging national debt, and the languishing dollar will push gold to record highs

McGuire, Shayne - 2008

Persistent link: https://www.econbiz.de/10004924427

Towards a new paradigm: The inflation shock as a catalyst?

Creel, Jérôme; Geerolf, François; Levasseur, Sandrine; … - 2024

During the recent inflation episode, the paradigm of separated objectives for monetary and fiscal policies has shown some limits. Fiscal policies have helped mitigate inflation. We advocate for the emergence of a new paradigm that gives equal consideration to fiscal and monetary policies and...

Persistent link: https://www.econbiz.de/10014517457

When companies don't die: Analyzing zombie firms in a low interest rate environment

Martiis, Angela De; Peter, Franziska J. - In: Aussenwirtschaft 73 (2023) 1, pp. 67-86

We examine whether low interest rates foster non-viable firms in Europe by analyzing two classes of firms: zombies and distressed. Controlling for the business cycle and recession periods, we find a significantly negative effect of short-term rates on the likelihood of being a zombie, while no...

Persistent link: https://www.econbiz.de/10014518624

Wenn eine geldpolitische Nebensache zur politischen Hauptsache wird: Das riesige Vermögen der Schweizerischen Nationalbank

Brunetti, Aymo; Foellmi, Reto - In: Aussenwirtschaft 71 (2021) 1, pp. 1-34

Die aussergewöhnliche Geldpolitik des vergangenen Jahrzehnts hat der Schweizerischen Nationalbank (SNB) ein grösseres …

Persistent link: https://www.econbiz.de/10014518649

Goldene Illusionen, gefährliche Folgen: Warum ein entpolitisierter, regelgebundener Goldstandard keine tragfähige Alternative zur derzeitigen Währungsordnung ist

Schlotmann, Olaf; Siddiqui, Sikandar - In: Credit and Capital Markets – Kredit und Kapital 50 (2017) 3, pp. 281-298

Viele Beobachter des wirtschaftlichen Tagesgeschehens zweifeln daran, dass die Geldpolitik mit ihrem heute verfügbaren …

Persistent link: https://www.econbiz.de/10014522453

The Japanese Banks in the Lasting Low-, Zero- and Negative-Interest Rate Environment

Murai, Taiki; Schnabl, Gunther - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 1, pp. 1-16

The bursting of the Japanese bubble economy in the early 1990s put the stage for a lasting low-, zero-, and negative-interest rate environment, which fundamentally changed the business environment for the Japanese commercial banks. On the income side, with interest margins becoming increasingly...

Persistent link: https://www.econbiz.de/10014522518

Applying Complexity Theory to Interest Rates: Evidence of Critical Transitions in The Euro Area

van den End, Jan Willem - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 1, pp. 1-33

We apply complexity theory to financial markets to show that excess liquidity created by the Eurosystem has led to critical transitions in the configuration of interest rates. Complexity indicators turn out to be useful signals of tipping points and subsequent regime shifts in interest rates. We...

Persistent link: https://www.econbiz.de/10014523281

Conducting Monetary Policy in a Complex, Adaptive Economy: Past Mistakes and Future Possibilities

White, William R. - In: Credit and Capital Markets – Kredit und Kapital 50 (2017) 2, pp. 213-235

Geldpolitik in einer komplexen, anpassungsfähigen Wirtschaft: Bisherige Fehler und zukünftige Möglichkeiten Die … Geldpolitik der letzten Jahre die wirtschaftlichen Aussichten bislang sogar verschlechtert hat, was auf einem fundamentalen …. Unbeabsichtigte Folgen der lockeren Geldpolitik waren bisher ein signifikanter Anstieg des Volumens der Schulden außerhalb des …

Persistent link: https://www.econbiz.de/10014523326

The Time Series Properties of the Real Exchange Rates Between the Member States of the European Monetary Union

Maurer, Rainer - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 2, pp. 149-171

Frage. Eine Möglichkeit, dieses Problem zu adressieren, könnte in der Preisgabe des Prinzips der einheitlichen Geldpolitik …

Persistent link: https://www.econbiz.de/10014523488