Fratzscher, Marcel; Gropp, Reint; Kotz, Hans-Helmut; … - 2015
crisis by means of more decisive action. One response, the recent easing of monetary policy by the European Central Bank (ECB … preferred option of many in Germany. The authors discuss the following question: What would happen if the ECB failed to respond …), has, for the most part, been sharply and onesidedly criticised in Germany. Monetary policy inaction seems to be the …