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In assessing Alexander Swoboda's great influence on economics, two themes stand out: the determinants of global inflation, particularly in the 1970s, and the choice of an exchange rate regime consistent with domestic monetary and fiscal policies. Although seemingly narrowly focused on China, our...
Persistent link: https://www.econbiz.de/10003818402
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A series of crisis and emergency interest rate cuts has brought global interest rates towards zero and government debt to historical records. The paper discusses the exit options from unconventional monetary policies and unsustainable government debt. First, the paper sheds light on the...
Persistent link: https://www.econbiz.de/10008855893
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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
The paper discusses global current account imbalances in the context of an asymmetric world monetary system and … against the euro or members of the euro area (euro periphery). The paper finds that changes of world current account positions …
Persistent link: https://www.econbiz.de/10009508894
. 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
A series of crises and emergency interest rate cuts has brought global interest rates towards zero and government debt to historical records. The paper discusses the exit options from unconventional monetary policies and unsustainable government debt. First, the paper sheds light on the...
Persistent link: https://www.econbiz.de/10008748343