...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Institutional investor >Paying Off the Debt
【24h】

Paying Off the Debt

机译：还清债务

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

The solution to any banking crisis lies with prompt and effective monetary policy. That, at least, is the conventional wisdom. No matter how great the preceding bubble, nor how severe the subsequent losses, central bankers have the tools to engineer a speedy recovery. If so, it makes sense to buy bank stocks when they are beaten down. This has proved a profitable strategy during most banking crises. But when an economy enters a protracted period of deleveraging, the credit system becomes unresponsive to monetary stimulus. This is what happened in Japan after the collapse of its bubble economy in the early 1990s. Today the great danger is that the U.S. and other credit-splurged economies will follow Japan's example and start paying off their debts.
机译：解决任何银行危机的关键在于迅速有效的货币政策。至少这是传统观念。不管之前的泡沫有多大，后续的损失有多严重，中央银行都拥有设计快速复苏的工具。如果是这样，那么当银行股票遭受挫败时，买入股票是有意义的。在大多数银行危机中，这已被证明是一种有利可图的策略。但是，当一个经济体进入去杠杆化的旷日持久的时期时，信贷体系将对货币刺激变得毫无反应。这就是1990年代初期日本泡沫经济崩溃之后发生的事情。如今，巨大的危险是美国和其他信用credit缩的经济体将效仿日本的榜样并开始还清债务。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号