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Highway to the Danger Zone – Die Gefahren des Niedrigzinses nehmen zu
Bley, Andreas | Weber, Jan Philip
Vierteljahrshefte zur Wirtschaftsforschung, Vol. 85 (2016), Iss. 1 : pp. 31–44
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Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR)
Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR)
Abstract
For more than seven years interest rates have remained on historically low levels. Yet both credit growth and the housing market in Germany have only moderately responded to the low financing costs so far. It is still too early, however, to give the all-clear. Often, risks build up slowly on financial markets. It is difficult to fight these destabilising processes once they are set in motion. In the context of a persistent loose monetary policy, economic policy should enhance structural factors and policies that dampen the risk of escalating prices and credit expansion on the German housing market.