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  1. What's in the (r)-stars for Korea?
    Autor*in: Rafiq, Sohrab
    Erschienen: March 2021
    Verlag:  International Monetary Fund, [Washington, D.C.]

    Korea's stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that... mehr

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    Korea's stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that triggered significant shifts in the saving-investment balance. Larger fiscal deficits and frothy financial conditions since 2012 have helped offset rising demand for safer assets, preventing the neutral rate from falling further. Nonetheless, the fall in the neutral rate, coupled with its effects on asset returns, has complicated the task of monetary policy stabilization. Korea's neutral rate is likely to remain low over the medium-term and could fall further, reflecting a structural savings-investment imbalance owing to declining productivity and a rotation in demographics increasing the demand for precautionary saving and convenience yield, and widening the capital risk premia. The COVID pandemic risks magnifying these trends

     

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  2. What's in the (r)-stars for Korea?
    Autor*in: Rafiq, Sohrab
    Erschienen: March 2021
    Verlag:  International Monetary Fund, [Washington, D.C.]

    Korea's stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that... mehr

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    Verlag (kostenfrei)
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    Korea's stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that triggered significant shifts in the saving-investment balance. Larger fiscal deficits and frothy financial conditions since 2012 have helped offset rising demand for safer assets, preventing the neutral rate from falling further. Nonetheless, the fall in the neutral rate, coupled with its effects on asset returns, has complicated the task of monetary policy stabilization. Korea's neutral rate is likely to remain low over the medium-term and could fall further, reflecting a structural savings-investment imbalance owing to declining productivity and a rotation in demographics increasing the demand for precautionary saving and convenience yield, and widening the capital risk premia. The COVID pandemic risks magnifying these trends

     

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    Quelle: Staatsbibliothek zu Berlin
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9781513575223
    Weitere Identifier:
    Schriftenreihe: IMF working paper ; WP/21, 93
    Schlagworte: Neutral Rate; Risk Premia; Covenience; Demographics; Savings; Convenience; Monetary Policy, Central Banking, and The Supply Of Money; Money and Interest Rates; Neutral Rate; Risk Premia
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  3. In Praise of Good Bookstores
    Autor*in: Deutsch, Jeff
    Erschienen: [2022]; ©2022
    Verlag:  Princeton University Press, Princeton, NJ

    From a devoted reader and lifelong bookseller, an eloquent and charming reflection on the singular importance of bookstoresDo we need bookstores in the twenty-first century? If so, what makes a good one? In this beautifully written book, Jeff... mehr

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    From a devoted reader and lifelong bookseller, an eloquent and charming reflection on the singular importance of bookstoresDo we need bookstores in the twenty-first century? If so, what makes a good one? In this beautifully written book, Jeff Deutsch—the director of Chicago’s Seminary Co-op Bookstores, one of the finest bookstores in the world—pays loving tribute to one of our most important and endangered civic institutions. He considers how qualities like space, time, abundance, and community find expression in a good bookstore. Along the way, he also predicts—perhaps audaciously—a future in which the bookstore not only endures, but realizes its highest aspirations.In exploring why good bookstores matter, Deutsch draws on his lifelong experience as a bookseller, but also his upbringing as an Orthodox Jew. This spiritual and cultural heritage instilled in him a reverence for reading, not as a means to a living, but as an essential part of a meaningful life. Central among Deutsch’s arguments for the necessity of bookstores is the incalculable value of browsing—since, when we are deep in the act of looking at the shelves, we move through space as though we are inside the mind itself, immersed in self-reflection.In the age of one-click shopping, this is no ordinary defense of bookstores, but rather an urgent account of why they are essential places of discovery, refuge, and fulfillment—and how they enrich the communities that are lucky enough to have them "Books, even obscure ones, are readily available online in the age of digital retail. As bookstores attempt to find their identity in a new era, some have survived by selling everything from toys to socks, coffee to stationery. In this short book, Jeff Deutsch, the director of the Seminary Co-op Bookstores in Chicago, aims to make the case for the value of spaces devoted to books and the value of the time spent browsing their stacks. It is a defense of serious bookstores, but more importantly it is a paean to the spaces that support them; the experience of readers as they engage with the books, the stacks, and each other; and the particular community created by the presence of such an institution. Drawing on his lifelong experience as a bookseller and his particular experience at Sem Co-op, Deutsch aims, in a series of brief essays, to consider how concepts like space, time, abundance, measure, community, and reverence find expression in a good bookstore, and to show some ways in which the importance of the bookstore is both urgent and enduring"--

     

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