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The risks of exiting too early the policy responses to the COVID-19 recession

Cassola, Nuno; De Grauwe, Paul; Morana, Claudio; … - In: Research in globalization 4 (2022), pp. 1-5

This policy brief warns about the risks of discontinuing the policy responses to the COVID-19 crisis by pursuing exit strategies too early and/or too sharply. It outlines a comprehensive strategy for limiting such risks globally and offers an in-depth discussion of the European situation. Due to...

Persistent link: https://www.econbiz.de/10013262973

Global liquidity, world savings glut and global policy coordination

Belke, Ansgar; Gros, Daniel - 2010

drivers of asset prices are global liquidity conditions. Central banks flooded the markets with ample liquidity. Mopping up … this excess liquidity will be one major task for central banks worldwide, which needs to be done in a coordinated fashion …. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods …

Persistent link: https://www.econbiz.de/10003934687

Financial crisis, global liquidity and monetary exit strategies

Belke, Ansgar - 2010

vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable …

Persistent link: https://www.econbiz.de/10003958646

Finanzkrise, globale Liquidität und makroökonomischer Exit

Belke, Ansgar; Schnabl, Gunther - 2010

task - the coordination of the non-exit is more likely than the coordination of the exit. -- Geldpolitik ; Fiskalpolitik …

Persistent link: https://www.econbiz.de/10008855893

Financial crisis, global liquidity and monetary exit strategies

Belke, Ansgar - 2010

vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable …

Persistent link: https://www.econbiz.de/10003961040

Finanzkrise, globale Liquidität und makroökonomischer Exit

Belke, Ansgar; Schnabl, Gunther - 2010

A series of crises and emergency interest rate cuts has brought global interest rates towards zero and government debt to historical records. The paper discusses the exit options from unconventional monetary policies and unsustainable government debt. First, the paper sheds light on the...

Persistent link: https://www.econbiz.de/10008748343

The ECB after the crisis : existing synergies among monetary policy, macroprudential policies and banking supervision

Cassola, Nuno; Kok Sørensen, Christoffer; Mongelli, … - 2019

The prolonged crisis exposed the vulnerability of a monetary union without a banking union. The Single Supervisory Mechanism (SSM), which started operating in November 2014, is an essential step towards restoring banks to health and rebuilding trust in the banking system. The ECB is today...

Persistent link: https://www.econbiz.de/10012132851

The ECB After the Crisis : Existing Synergies Among Monetary Policy, Macroprudential Policies and Banking Supervision

Cassola, Nuno - 2019

Persistent link: https://www.econbiz.de/10012857877

The ECB After the Crisis : Existing Synergies Among Monetary Policy, Macroprudential Policies and Banking Supervision

Cassola, Nuno - 2019

Persistent link: https://www.econbiz.de/10012858961

How much fiscal backing must the ECB have? : the euro area is not the Philippines

Belke, Ansgar - 2010

The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led some commentators to argue that the ECB needs "fiscal...

Persistent link: https://www.econbiz.de/10010208780