Thomas Mayer

Articles

Is the Japanese Low Inflation–Low Interest Rate Model at an End?

02/01/2023 Mises Wire Gunther Schnabl Thomas Mayer

The macroeconomic situation in Japan seems to be coming to a head. When the Bank of Japan, under its President Haruhiko Kuroda, announced on December 20, 2022, that it would raise its interest rate...

Reasons for the Demise of Interest: Savings Glut and Secular Stagnation or Central Bank Policy?

09/10/2021 Quarterly Journal of Austrian Economics Thomas Mayer Gunther Schnabl

Abstract: This article compares the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective, low interest rates are...

Central Banks See No Way out of the Low Interest Rate Trap

06/21/2021 Mises Wire Thomas Mayer Gunther Schnabl

Since the 1980s, slower economic growth in the industrial countries has been accompanied by declining interest rates. They have even turned negative in more recent years. At the same time, investment...

Media

Is the Japanese Low Inflation–Low Interest Rate Model at an End?

02/13/2023 Gunther Schnabl Thomas Mayer

For nearly three decades, the Japanese economy has slowly imploded under low interest rates and heavy government debt. It may soon be time to pay the piper.

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