How Does Zombie Credit Affect Inflation? Lessons From Europe
from Liberty Street Economics
Even after the unprecedented stimulus by central banks in Europe following the global financial crisis, Europe’s economic growth and inflation have remained depressed, consistently undershooting projections. In a striking resemblance to Japan’s “lost decades,” the European economy has been recently characterized by persistently low interest rates and the provision of cheap bank credit to impaired firms, or “zombie credit.”
Source: http://econintersect.com/pages/contributors/contributor.php?post=202101010542
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