Im Jahr 1990 erlebte Japan eine nie gekannte Wirtschaftskrise. Binnen Jahresfrist verlor der Nikkei-Index über 40%. Die fallenden Börsen schlugen bis auf den Immobilienmarkt durch. Banken sperrten Kredite, Firmen mussten Insolvenz anmelden, Grundstückspreise fielen, bis sie 1996 in den...

Monetary targeting has been abandoned in deregulated and liberalised financial systems. Theoretically, this could imply that emerging markets that have not yet deregulated financial markets could employ monetarist policies. We analyse the case of China, in order to explore whether monetary...

Central banks have recently introduced new policy initiatives, including a policy called Quantitative Easing (QE). Since it has been argued by the Bank of England that 'Standard economic models are of limited use in these unusual circumstances, and the empirical evidence is extremely limited'...

In 2008, governments in many countries embarked on large fiscal expenditure programmes, with the intention to support the economy and prevent a more serious recession. In this study, the overall impact of a substantial increase in fiscal expenditure is considered by providing a novel analysis of...

This paper investigates the effectiveness of the quantitative easing policy, as implemented by the Bank of England in March 2009. Similar policies had been previously implemented in Japan, the U.S. and the Eurozone. The effectiveness is measured by the impact of Bank of England policies...

Central banks have recently introduced new policy initiatives, including a policy called "Quantitative Easing" (QE). Since it has been argued by the Bank of England that "Standard economic models are of limited use in these unusual circumstances, and the empirical evidence is extremely limited"...

This paper investigates the effectiveness of the "quantitative easing" policy, as implemented by the Bank of England in March 2009. Similar policies had been previously implemented in Japan, the U.S. and the Eurozone. The effectiveness is measured by the impact of Bank of England policies...