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The two approaches to money : debt, central banks, and functional finance

Mastromatteo, Giuseppe; Esposito, Lorenzo - 2015

efficiency through public investment while reducing the total operational costs of firms. In the specific context of the eurozone …

Persistent link: https://www.econbiz.de/10011392820

From antigrowth bias to quantitative easing : the ECB's belated conversion?

Bibow, Jörg - 2016

This paper investigates the European Central Bank's (ECB) monetary policies. It identifies an antigrowth bias in the bank's monetary policy approach: the ECB is quick to hike, but slow to ease. Similarly, while other players and institutional deficiencies share responsibility for the euro's...

Persistent link: https://www.econbiz.de/10011481632

The Euro's savior? : assessing the ECB's crisis management performance and potential for crisis resolution

Bibow, Jörg - 2015

This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under crisis conditions, and how the bank has actually...

Persistent link: https://www.econbiz.de/10011349470

Twenty years of the German euro are more than enough

Bibow, Jörg - 2018

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...

Persistent link: https://www.econbiz.de/10011894027

The crisis of finance-dominated capitalism in the euro area, deficiencies in the economic policy architecture, and deflationary stagnation policies

Hein, Eckhard - 2012

In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising...

Persistent link: https://www.econbiz.de/10009631541

Central bank independence : myth and misunderstanding

Wray, L. Randall - 2014

It is commonplace to speak of central bank "independence" as if it were both a reality and a necessity. While the Federal Reserve is subject to the "dual mandate", it has substantial discretion in its interpretation of the vague call for high employment and low inflation. Most important, the...

Persistent link: https://www.econbiz.de/10010252188

Going forward from B to A? : proposals for the Eurozone crisis

Amato, Massimo; Fantacci, Luca; Papadimitriou, Dimitri Basil - 2016

After reviewing the main determinants of the current eurozone crisis, this paper discusses the feasibility of … austerity measures in order to abide by their commitments to eurozone institutions and the International Monetary Fund. We show … that the introduction of fiscal currencies would speed up the recovery, without violating the rules of eurozone treaties …

Persistent link: https://www.econbiz.de/10011481615

The euro crisis and the job guarantee : a proposal for Ireland

Wray, L. Randall - 2012

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Persistent link: https://www.econbiz.de/10009490197

The euro debt crisis and Germany's euro trilemma

Bibow, Jörg - 2012

This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that the crisis is not primarily a "sovereign debt crisis" but rather a (twin) banking and balance of payments crisis. Intra-area competitiveness and current account imbalances, and...

Persistent link: https://www.econbiz.de/10009533362

The euro imbalances and financial deregulation : a post-Keynesian interpretation of the European debt crisis

Pérez Caldentey, Esteban; Vernengo, Matías - 2012

. Underpinned by a process of monetary unification and financial deregulation, core eurozone countries pursued export-led growth … financial crisis of 2007-08. The paper also maintains that the eurozone could avoid cumulative imbalances by adopting John …

Persistent link: https://www.econbiz.de/10009407149