{"id":7559,"date":"2014-11-04T10:33:11","date_gmt":"2014-11-04T08:33:11","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=7559"},"modified":"2014-11-07T15:21:24","modified_gmt":"2014-11-07T13:21:24","slug":"monetary-policy-and-long-term-trends","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/monetary-policy-and-long-term-trends\/","title":{"rendered":"Monetary policy and long-term trends"},"content":{"rendered":"<p>Charles A.E. Goodhart, Philipp Erfurth.<\/p>\n<div>\n<p>There has been a long-term downward trend in labour\u2019s share of national income, depressing both demand and inflation, and thus prompting ever more expansionary monetary policies. This column argues that, while understandable in a short-term business cycle context, this has exacerbated longer-term trends, increasing inequality and financial distortions. Perhaps the most fundamental problem has been over-reliance on debt finance. The authors propose policies to raise the share of equity finance in housing markets; such reforms could be extended to other sectors of the economy.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae:<\/strong> Voxeu<\/p>\n<p><a href=\"http:\/\/www.voxeu.org\/article\/monetary-policy-and-long-term-trends\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2\u00a0 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Charles A.E. Goodhart, Philipp Erfurth. There has been a long-term downward trend in labour\u2019s share of national income, depressing both demand and inflation, and thus prompting ever more expansionary monetary policies. This column argues that, while understandable in a short-term business cycle context, this has exacerbated longer-term trends, increasing inequality and financial distortions. Perhaps the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,39,4],"tags":[27],"class_list":["post-7559","post","type-post","status-publish","format-standard","hentry","category-18","category-39","category-proposals","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/7559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=7559"}],"version-history":[{"count":3,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/7559\/revisions"}],"predecessor-version":[{"id":7562,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/7559\/revisions\/7562"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=7559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=7559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=7559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}