EU denktank Bruegel – het probleem van de lage rente
Deze podcast van EU denktank Bruegel gaat in op de lage rente die de ontwikkelde economieën thans beheerst, en bespreekt de economische gevolgen vanuit EU-perspectief.
Structural factors are putting downward pressure on rates: is it time for macroeconomic policy to play second fiddle in managing demand?
Maria Demertzis and Nicola Vegi join Giuseppe Porcaro to talk about their recent research on low interest rates, declining productivity growth and how to tackle this.
In both Europe and the United States, interest rates have been declining for more than fifteen years. For much of this period, real interest rates have been negative and they are expected to remain negative for at least another decade. The literature associates this decline in interest rates with a similarly protracted decline in productivity. But the decline in productivity appears paradoxical given major technological advances.
The structural factors behind the downward pressure on interest rates imply that macroeconomic policy will have a reduced role in managing aggregate demand. Monetary policy in the euro area will be more about preventing financial fragmentation and less about stimulating demand. Equally, fiscal policy will have more of a supporting rather than stimulating role.
Tackling the structural decline in market dynamism and therefore in real rates will require structural policies to reduce market power globally and ensure the creation of capital markets in the EU.
Publicatie 10 maart
“EU”-dernk-tank ‘Breughel’ probeert zich zelf te onderzoeken. Slim.
De lage rente is vastgesteld door de “EU”.
Het onbeperkt geld-drukken gebeurt door de “EU”.
Het opkopen van zo ongeveer alle staats- en bedrijfs !-obligaties [ nu 75% totaal ],
gebeurt door de “EU”.
De schulden-berg [ alle overheden, bedrijven ] in de “EU” loopt in de triljoenen.
Elk gezond en corrigerend economisch mechanisme is afgeschaft.
Late we eens gaan onderzoeken …….. toch ……….