Monetary Policy Co-ordination in an Asymmetrical World: Future Prospects for the USA and Europe

1993 ◽  
pp. 303-322
Author(s):  
Elias Karakitsos
Keyword(s):  
Monetary Policy ◽  
Future Prospects ◽  
The Usa

Current Status and Future Prospects for Harvesting and Resource Management of the Agarophyte in Japan

1976 ◽  
Vol 33 (4) ◽  
pp. 1024-1030 ◽  
Author(s):  
Nobuo Yamada
Keyword(s):  
Resource Management ◽  
South Korea ◽  
Conservation Management ◽  
Resource Conservation ◽  
Current Status ◽  
Future Prospects ◽  
Annual Output ◽  
The Usa

Agar-agar manufacturing was Japan’s monopoly for about 300 yr from 1644 until about 1920, when its production was initiated in the USA by introducing techniques from Japan, and then was begun in South Korea, Indonesia, and many other countries. Today the average annual output of agar-agar of over 20 countries amounts to 6000 tons, half of which is produced in Japan.Agarophytes are harvested in many countries and traded among them. In Japan, nearly 14,000 tons are consumed in a year, two thirds of which are imported from about 20 countries.Under these circumstances, there is a worldwide demand for appropriate measures for resource conservation, effective harvesting, and utilization of agarophytes.This paper presents the results of basic and applied investigations on the agarophytes and the existing state of harvesting and resource-conservation management in Japan.

scholarly journals Causes of The Outbreak of the Eurozone Crises: The Role of the Usa and the European Central Bank Monetary Policy

e-Finanse ◽  
2015 ◽  
Vol 11 (2) ◽  
pp. 47-63
Author(s):  
Natalia Białek
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Interest Rates ◽  
European Central Bank ◽  
Institutional Design ◽  
Global Financial Crisis ◽  
European Central ◽  
Low Interest Rates ◽  
The Usa ◽  
The U.S

Abstract This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the U.S. Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008-09. Unusually low interest rates in 2001- 05 compelled investors to engage in high risk endeavors. It also encouraged some governments to finance excessive domestic consumption with foreign loans. Emerging financial bubbles burst first in mortgage markets in the U.S. and subsequently spread to other countries. The paper also reviews other causes of the crisis as discussed in literature. Some of them relate directly to weaknesses inherent in the institutional design of the European Monetary Union (EMU) while others are unique to members of the EMU. It is rather striking that recommended remedies tend not to take into account the policies of the European Central Bank.

Past Evolution and Future Prospects of the Pharma Industry and its Regulation in the USA

2007 ◽  
pp. 614-636
Author(s):  
William Wardell ◽  
William Vodra ◽  
Judith K Jones ◽  
Richard N Spivey
Keyword(s):  
Future Prospects ◽  
The Usa

scholarly journals Refinancing, Monetary Policy, and the Credit Cycle

2020 ◽  
Vol 12 (1) ◽  
pp. 67-93 ◽  
Author(s):  
Gene Amromin ◽  
Neil Bhutta ◽  
Benjamin J. Keys
Keyword(s):  
Monetary Policy ◽  
Policy Implementation ◽  
Lessons Learned ◽  
Mortgage Market ◽  
Transmission Mechanism ◽  
Mortgage Markets ◽  
Policy Transmission ◽  
The Usa ◽  
Credit Cycle

We assess the complicated reality of monetary policy transmission through mortgage markets by synthesizing the existing literature on the role of refinancing in policy implementation. After briefly reviewing mortgage market institutions in the USA and documenting refinance activity over time, we summarize the links between refinancing and consumption and describe the frictions impeding the refinancing channel. The review draws heavily on research emerging from the experience of the financial crisis of 2008–2009, as it highlights a combination of market, institutional, and policy-making factors that dulled the transmission mechanism. We conclude with a discussion of potential mortgage market innovations and the applicability of lessons learned to the ongoing stresses induced by the COVID-19 pandemic.

Monetary policy in the USA

2009 ◽  
pp. 381-410
Author(s):  
Keith Bain ◽  
Peter Howells
Keyword(s):  
Monetary Policy ◽  
The Usa

scholarly journals Consequences of divergent monetary policies of the highly industrialised countries on global and local level

2016 ◽  
pp. 755-766
Author(s):  
Djordje Djukic
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Positive Impact ◽  
Local Level ◽  
Foreign Debt ◽  
Negative Consequences ◽  
Negative Effects ◽  
Negative Interest Rates ◽  
The Usa ◽  
Buy Back

In contrast to the USA, negative interest rates in the Eurozone and other European countries, as a result of unprecedented expansionary monetary policy implemented by the European Central Bank since 2014, will have far-reaching negative consequences. Decisions of citizens to withdraw deposits from banks and keep them in safe deposit boxes, invest in real estate and land, and decisions of companies to hold large amounts of cash or to buy-back shares and close up, under conditions of divergent policies of central banks in highly industrialized countries, indicates the presence of risk of secular stagnation. Faster recovery of the USA economy and normalization of FED monetary policy through the cycle of increasing the key interest rate will contribute to further strengthening of the US dollar against the euro. It will significantly increase the burden of foreign debt servicing for highly indebted countries that have borrowed in US dollars. This is the case with Serbia. Continuation of ECB expansionary monetary policy would have a positive impact on real GDP growth in Serbia in 2017. Close to zero interest rates on the savings of citizens in Eurozone would negatively influence its future economic growth. Negative effects of such a policy will also be manifested in Serbia because the interest rates on savings in banks are also close to zero.

scholarly journals Assessing the future prospects for cryptocurrencies

2021 ◽  
Vol 3 (1) ◽  
pp. 32-37
Author(s):  
Hatice Karahan
Keyword(s):  
Monetary Policy ◽  
The Other ◽  
Future Prospects ◽  
Key Factors ◽  
Financial Systems ◽  
Discussion Paper ◽  
Future Performance ◽  
The World ◽  
Monetary Authorities ◽  
The Future

Cryptocurrencies are attracting considerable attention around the world because of the various advantages that they offer. On the other hand, they also carry some inherent risks. Although monetary authorities broadly agree that cryptocurrencies do not engender an immediate threat to national and global financial systems, the future is full of unknowns. In this regard, drawing a framework based on the current drivers of demand for cryptocurrencies would help visualize the prospects for these assets and create a roadmap to avoid or manage any disruptive risks. This discussion paper aims to contribute to the literature by examining the key factors that will determine the future performance of cryptocurrencies. The main conclusion derived from the discussion is that national regulations will potentially affect the direction of cryptocurrencies, as well as the need for any special efforts in the domain of monetary policy

GLOBAL BANK RISK AND MONETARY POLICY IN AN EMERGING ECONOMY

2021 ◽  
pp. 1-32
Author(s):  
Paul Luk
Keyword(s):  
Monetary Policy ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Emerging Economy ◽  
Exchange Rate Flexibility ◽  
Trade Offs ◽  
Global Banking ◽  
The Usa ◽  
The Global Financial Crisis ◽  
Global Banks

The global financial crisis was characterized by heightened financial risk in the USA, which spread to the rest of the world, including emerging economies. This paper constructs a core–periphery model with a global banking network and financial frictions. Due to a common-lender effect, when global banks lend to an emerging economy, heightened financial risk in the center depresses cross-border lending to the emerging economy, reducing real activities and exacerbating monetary policy trade-offs. As financial markets become more integrated, exchange rate flexibility becomes less welfare enhancing and active capital account policy becomes more welfare enhancing.

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