The Low-Interest-Rate Environment, Global Liquidity Spillovers and Challenges for Monetary Policy Ahead

被引：0
|
作者：
Belke, Ansgar [1 ,2 ,3 ]
Verheyen, Florian [1 ]
机构：
[1] Univ Duisburg Essen, Lehrstuhl Volkswirtschaftslehre, Insbes Makrookon, Univ Str 12, D-45117 Essen, Germany
[2] European Parliament, Policy Dept Econ & Sci Policy A, B-1047 Brussels, Belgium
[3] IZA Bonn, D-53113 Bonn, Germany
来源：
COMPARATIVE ECONOMIC STUDIES | 2014年 / 56卷 / 02期
关键词：
global liquidity; central banks and their policies; financial repression; financial stability; low interest rates;
D O I：
10.1057/ces.2014.14
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The impact of global banking on financial stability and the connected post-crisis challenges have been under-researched before the crisis. We interpret 'global banking' as 'global central banking', focus on the role of international monetary policies and global liquidity for financial stability and identify imponderables emerging in this context. Central banks continue to stress that they will keep interest rates low for a prolonged period, in spite of negative side effects such as deferred bank balance sheet repair. We show that it is crucial to cope with these challenges to return to and ensure global financial stability in the future
引用
收藏
页码：313 / 334
页数：22
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