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Literatur zur Politischen Ökonomie
Folgende Dokumente wurden in der Mehrwert & Co. Datenbank gefunden:
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1. Aufsatz
Dokument in die Merkliste Dokument in den Download-Korb
Referenz:
Palley (2014): Monetary policy in the US and EU
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Titel:
Monetary policy in the US and EU after quantitative easing
Untertitel:
The case for asset based reserve requirements (ABRR)
in:
Jahr:
2014
H.:
68
pp.:
2-9
Deskribierung:
Inhalt:
This paper critiques the Federal Reserve′s quantitative easing (QE) exit strategy which aims to deactivate excess liquidity via higher interest rates on reserves. That is equivalent to giving banks a tax cut at the public′s expense. It also risks domestic and international financial market turmoil. The paper proposes an alternative exit strategy based on ABRR which avoids the adverse fiscal and financial market impacts of higher interest rates. ABRR also increase the number of monetary policy instruments which can permanently improve policy. This is especially beneficial for euro zone countries. Furthermore, ABRR yield fiscal benefits via increased seignorage and can shrink a financial sector that is too large.


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