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This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into...
Persistent link: https://www.econbiz.de/10011430849
Persistent link: https://www.econbiz.de/10010313142
distinct convergence clubs, with the euro area and the United States respectively at their core. In line with the theoretical …
Persistent link: https://www.econbiz.de/10011606240
investigated from an empirical perspective for the euro area as a whole, for individual euro area member countries and for other EU … or a common pattern in macro-financial linkages across the euro area and do these linkages vary over time? 4) Do cross … between euro area and other countries. Results also indicate that cross-country spillovers matter. Finally, important non …
Persistent link: https://www.econbiz.de/10011606295
Die internationale Finanzmarktkrise hat sich zu einer Weltwirtschaftskrise ungeahnten Ausmaßes entwickelt. Was im Jahr 2007 in den USA als Subprimekrise begann, weitete sich innerhalb kürzester Zeit zu einer globalen Krise aus, bei der es sich um die bedeutendste Krise seit der letzten...
Persistent link: https://www.econbiz.de/10011304551
Die Konjunktur in Deutschland ist zwar mit viel Schwung in das Jahr 2008 gestartet, jedoch werden sich im weiteren Verlauf dieses Jahres die negativen außenwirtschaftlichen Einflüsse zunehmend bemerkbar machen. Insbesondere wird sich die Dynamik der Ausfuhr deutlich verringern. Hingegen wird...
Persistent link: https://www.econbiz.de/10010460597
This study focuses on the financialization of the U.S. household sector, featuring enhanced access to credit and ease of consumer spending as essential aspects. Growth in U.S. private consumption has been remarkably strong since the 1980s considering trends in income growth and income and wealth...
Persistent link: https://www.econbiz.de/10010464410
During the Great Recession, central banks went well beyond their normal operations and provided liquidity in unlimited amounts, in foreign currency and to foreign banks. Central bank cooperation took the form of a swap network, and amounted to an episode of global monetary policy. However,...
Persistent link: https://www.econbiz.de/10010464518
strategies, least of all when estimation risk is taken into account. Although there is some (weak) evidence of stock market …
Persistent link: https://www.econbiz.de/10011428771
Hochentwickelte Industriestaaten bedürfen permanenter Innovation, um weiterhin wachsen zu können. Nur dadurch ist es möglich, auf dem Weltmarkt Preise zu erzielen, die günstige Terms of Trade und ein hohes Lohnniveau ermöglichen. Die Förderung von Innovation wird damit zu einer zentralen...
Persistent link: https://www.econbiz.de/10011428777