Household debt in Greece is pretty low (70% of GDP, 2013), at least compared with countries like the Netherlands (139%, 2012), Denmark (149%, 2012) or Ireland (112%, 2012). Also, after 2010 Greek households paid [...]
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Draghi on Why the Euro Area Is Not Sliding into Deflation like Japan Did. June 3, 2014. History and economic history is full of rationalizations that “this time is different.” So it seems to be with the ECB officials, who have defended their [...] When Bank of Japan Chairman Haruhiko Kuroda took the reins of the Japanese central bank in late 2012, he was tasked with jumpstarting an economy that had been languishing since the 1990s. GDP growth was slow, the … [...] Remarks by Mr Haruhiko Kuroda, Governor of the Bank of Japan , at the International Financial Symposium, hosted by the Institute for International Monetary Affairs, Tokyo, 19 March [...] Europe seemed to be in better economic shape but Eurozone inflation is back at the worryingly low levels. Patrice Muller, London [...] On a recent blogpost that I wrote there was some confusion in the comments section regarding Hyman Minsky's theories and their relationship to the phenomenon of rising asset prices. I have seen this confusion made many times … The money that was used to purchase them — whether debt financed or not — was a residual; an important residual, as Ponzi debts might lead to asset price deflations , but still a residual. In these theories debt does not cause anything … [...] Broadly speaking, euro zone policy makers fall into two camps: first, those who see what happened when Japan entered a negative debt- deflation , which contributed to the two 'lost decades' of approximately 1990 to [...] They identified 73 five-year periods of price decline and found “virtually no evidence” of any link between deflation and decreased output. The record of contemporary Japan – often cited as an example of the dangers of … [...] Central Bank News Link List – Jan 21, 2014: Japan out of deflation , no guarantee it won't return: economy minister. Here's today's Central Bank News' link list, click through if you missed the previous link list. The list comprises … [...] |
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Imported Deflation and a New Currency War? | Zero Hedge
Japan is not exporting deflation to the euro area. Here's why. And the dollar's role a the major reserve asset remains quite stable despite the perennial forecasts of its [...]