Es ist schon interessant: die US-Notenbank wird am 13. Dezember den Leitzins zum dritten Mal in diesem Jahr anheben, eigentlich mit dem Ziel, die Wirtschaft etwas zu bremsen – aber der monetäre Transmissionsmechanismus funktioniert nicht: So haben sich die gesamtwirtschaftlichen Finanzierungsbedingungen in den USA im Jahresverlauf sogar noch verbessert.
Eine Verbesserung der Finanzierungsbedingungen bedeutet, dass der Staat, die Unternehmen und die privaten Haushalte leichter und günstiger an Kredite und Eigenkapital kommen, was eher das Wirtschaftswachstum stimuliert denn bremst. Es scheint so, als würde die etwas restriktivere Geldpolitik der US-Notenbank durch die ultralockere Geldpolitik der EZB und der Bank von Japan gqsb nkp bdyydfkigdvdc nktydc.
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Kozxilvrud Vjjisoqv
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Eine Verbesserung der Finanzierungsbedingungen bedeutet, dass der Staat, die Unternehmen und die privaten Haushalte leichter und günstiger an Kredite und Eigenkapital kommen, was eher das Wirtschaftswachstum stimuliert denn bremst. Es scheint so, als würde die etwas restriktivere Geldpolitik der US-Notenbank durch die ultralockere Geldpolitik der EZB und der Bank von Japan gqsb nkp bdyydfkigdvdc nktydc.
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Kozxilvrud Vjjisoqv
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