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- Title
Editorial.
- Authors
Busch, Ulrich
- Abstract
The article deals with the current economic situation in the USA and the European Union. Consumer prices have risen sharply in both regions, especially for energy, raw materials, and agricultural products. The USA has already responded with a correction of its monetary policy, while the European Central Bank (ECB) initially saw no need for action but is now also considering a correction. The article also mentions the war in Ukraine and its impact on economic development and monetary policy in the European Union. The focus of the article is on monetary policy as part of general economic policy and the search for solutions to current problems. It is argued that the ECB not only has to deal with changes but also with an incomplete European Monetary Union. Critics demand a departure from the "ultra-loose" monetary policy and a return to price stability. The article also discusses the Modern Monetary Theory (MMT), which is considered unusable. The article concludes with an interview with a representative of MMT in Germany, who emphasizes that the theory has the potential to better understand and solve the monetary problems of our time.
- Subjects
RUSSIAN invasion of Ukraine, 2022-; MONETARY theory; INDEXATION (Economics); EUROPEAN Central Bank; EUROPEAN Union; MONETARY policy; PRICE regulation; GREAT Recession, 2008-2013
- Publication
Berliner Debatte Initial, 2022, Vol 33, Issue 2, p2
- ISSN
0863-4564
- Publication type
Article