Schlagwörter: EZB

Wie Zentralbanken von unten nach oben umverteilen

Back in August, Bloomberg interviewed Karen Petrou about her research on quantitative easing and the Fed’s policies since the 2008 financial crisis. What she has discovered has not been encouraging for people who aren’t already high-income, and in recent research presented to the New York Fed, she concluded Post-crisis monetary and regulatory policy had an unintended but nonetheless dramatic impact on the income and wealth divides.”  weiter hier

Wie die Eurozone zerbrechen wird

The Eurozone has been built on quicksand. The examples of more than 200 former currency unions suggests rather vividly that a currency union needs to be either backed by a political union or it needs to have an exit option. The eurozone, markedly, has neither. It was erroneously assumed that when countries join the European Monetary Union (EMU), their economies would start to converge.  This means that it was thought that the poorer countries would start to catch-up to the richer ones in well-being and, e.g., productivity. That never materialized. The convergence that was observable during the first years of the euro halted after the financial crisis hit weiterlesen hier

Geldpolitik: Erinnerungen an die UdSSR

Der Wachwechsel bei der Federal Reserve – das Ende der Amtszeit von Janet Yellen und der Beginn der Ära Jerome Powell – hat Erinnerungen in mir auferstehen lassen, wie es war, in der ehemaligen Sowjetunion aufzuwachsen. Damals hatte unser örtliches Lebensmittelgeschäft zwei Sorten von Zucker: Der billigere kostete 96 Kopeken Weiterlesen