central banks
4 Posts
The policies that Japan has utilized for so long are now being emulated by many countries around the world. Japanese policy is the avant-garde of economics — or, perhaps, the canary in the coal mine. Read more
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Thomas Mayer argues persuasively that Europe’s Economic and Monetary Union (EMU) could work if the member states would embrace a new EMU architecture. Even though all past monetary unions of sovereign states have failed, Mayer remains hopeful that the EMU can develop a more robust framework and contribute to the historical work of European unification. Read more
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One consequence of the zero interest rate policy and other can-kicking measures is that they have cast doubt on the work of analysts who had made convincing cases that calamity was imminent. For now, they can be said to be “wrong.” Read more
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