Since the 1990s there has been a significant decline in the share of total bank credit flowing
to nonfinancial firms relative to real estate and financial assets. This has raised concerns …

The decline in the share of bank credit to non-financial firms since the 1990s, relative to
credit for real estate and financial asset markets, has raised concerns over economic growth …

This paper argues that in reserve currency issuing economies at the effective lower bound,
outright transfers from the central bank to households are both more equitable and more …

In the face of the perceived high public and private debt levels and sluggish recovery that
has followed the financial crisis of 2007-08, there have been calls for greater fiscal-monetary …

The transition to a net-zero carbon economy requires a major shift in financial flows.
Financial policy bodies—central banks, financial regulators and ministries of finance …

The purpose of the present paper is to identify and challenge contemporary adherence to
the core of the prevailing monetary policy consensus. This consensus consists of what we …

When the Federal Reserve, European Central Bank and Bank of England purchased bank
and state debt during the 2007–2008 crisis, it became apparent that, when technically …

Public credit programmes–the state provision of direct loans or loan guarantees–are difficult
to govern. The dominant approach to governing public credit provision involves estimating …

This study aims to analyse monetary policy's influence in South Africa by examining the
effects of repo rates and inflation on economic development. The study makes use of annual …

This paper studies the Greek economy in the aftermath of the 2007-8 global crisis looking for
barriers to, and engines of, growth. We use a micro-founded macroeconomic model …