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Reasons for the demise of interest : savings glut and secular stagnation or central bank policy?
Mayer, Thomas; Schnabl, Gunther - 2019
In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...
Persistent link: https://www.econbiz.de/10012124862
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Covid-19 and the euthanasia of interest rates : a critical assessment of central bank policy in our times
Mayer, Thomas; Schnabl, Gunther - In: Journal of policy modeling : JPMOD ; a social science … 43 (2021) 6, pp. 1241-1258
Persistent link: https://www.econbiz.de/10013264953
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Monetary policy, financial regulation and financial stability : a comparison between the Fed and the ECB in the wake of the global financial crisis
Schnabl, Gunther; Sonnenberg, Nils - In: Ordo : Jahrbuch für die Ordnung von Wirtschaft und … 71 (2020) 1, pp. 180-210
Persistent link: https://www.econbiz.de/10012621627
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Monetary policy, financial regulation and financial stability : a comparison between the Fed and the ECB
Schnabl, Gunther; Sonnenberg, Nils - 2020
The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional monetary policies as therapies for financial crises. It compares the financial market stabilization measures of the Federal Reserve System and the European System of Central Banks...
Persistent link: https://www.econbiz.de/10012197673
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The failure of ECB monetary policy from a Mises-Hayek perspective
Schnabl, Gunther - 2017
The paper analyses the common European monetary policy based on a Mises-Hayek overinvestment framework, which is combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary policy contributed to unsustainable overinvestment booms...
Persistent link: https://www.econbiz.de/10011619626
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Monetary Policy, Financial Regulation and Financial Stability : A Comparison between the Fed and the ECB
Schnabl, Gunther - 2020
The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional monetary policies as therapies for financial crises. It compares the financial market stabilization measures of the Federal Reserve System and the European System of Central Banks...
Persistent link: https://www.econbiz.de/10012837553
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COVID 19 and central banks dominate the agenda
Schnabl, Gunther - In: The Economists' voice 17 (2020) 1, pp. 1-4
Persistent link: https://www.econbiz.de/10012805784
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Monetary Policy Reform in a World of Central Banks
Schnabl, Gunther - 2012
monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … world economy. The backlash of high government debt levels on monetary policy making is argued to have led to a hysteresis … displacement of the prevalent world monetary system. Enhanced competition between dollar and euro as international currencies …
Persistent link: https://www.econbiz.de/10013111361
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Monetary policies of large industrialised countries, emerging market credit cycles and feedback effects
Andreas, Hoffmann; Schnabl, Gunther - 2014
. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of …
Persistent link: https://www.econbiz.de/10010337620
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Monetary policy reform in a World of Central Banks
Schnabl, Gunther - 2011
monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … world economy. The backlash of high government debt levels on monetary policy making is argued to have led to a hysteresis … displacement of the prevalent world monetary system. Enhanced competition between dollar and euro as international currencies …
Persistent link: https://www.econbiz.de/10009508892