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Financial systems and the role of banks in monetary policy transmission in the euro area
Ehrmann, Michael; Gambacorta, Leonardo; Martínez … - 2001
This paper offers a comprehensive comparison of the structure of banking and financial markets in the euro area. Based on this, several hypotheses about the role of banks in monetary policy transmission are developed. Many of the predictions that have been proposed for the U.S. are deemed...
Persistent link: https://www.econbiz.de/10011419463
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The redistributive and stabilising effects of an EMU unemployment benefit scheme under different hypothetical unemployment scenarios
Jara, H. Xavier; Tumino, Alberto; Sutherland, Holly - 2015
The idea of a common unemployment benefit system for the European Monetary Union (EMU) has provoked increasing interest in both the political and academic spheres because of its potential to smooth fluctuations in income across member states and to strengthen income security for the unemployed....
Persistent link: https://www.econbiz.de/10011449152
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The importance of income-tested benefits in good times and bad : lessons from EU countries
Leventi, Chrysa; Rastrigina, Olga; Sutherland, Holly - 2016
distribution is also examined. We compare the situation in 2009 with that in 2014 (or 2013) for fifteen EU Member States … those in strong recovery by 2014. As EU-SILC micro-data containing household income for 2013 or 2014 are not available yet …, standard EUROMOD routines are enhanced with additional adjustments to the EU-SILC based input data in order to take into …
Persistent link: https://www.econbiz.de/10011449199
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How does online streaming affect antitrust remedies to centralized marketing? : the case of European football broadcasting rights
Budzinski, Oliver; Gänßle, Sophia; … - 2019
The collective sale of football broadcasting rights constitutes a cartel, which, in the European Union, is only allowed if it complies with a number of conditions and obligations, inter alia, partial unbundling and the no-single-buyer rule. These regulations were defined with traditional...
Persistent link: https://www.econbiz.de/10012025484
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Inflation persistence and price-setting behaviour in the euro area : a summary of the Inflation Persistence Network evidence
Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings are: i) Under the current monetary policy regime, the...
Persistent link: https://www.econbiz.de/10011622329
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The role of an EMU unemployment insurance scheme on income protection in case of unemployment
Jara, H. Xavier; Sutherland, Holly; Tumino, Alberto - 2016
gaps in national unemployment insurance schemes are assessed. We make use of EUROMOD, the EU-wide tax …
Persistent link: https://www.econbiz.de/10011584408
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Communication of monetary policy in unconventional times
Coenen, Günter; Ehrmann, Michael; Gaballo, Gaetano; … - 2017
Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank 's toolkit could hamper the predictability of policy actions. We study how monetary policy...
Persistent link: https://www.econbiz.de/10011663996
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Nowcasting : estimating developments in median household income and risk of poverty in 2014 and 2015
Rastrigina, Olga; Leventi, Chrysa; Vujackov, Sanja; … - 2016
and of the effectiveness of tax and benefit policies. However, partly due to the complexity of EU-SILC data collection … model’s routines are enhanced with additional adjustments to the EU-SILC based input data in order to capture changes in the … employment characteristics of the population since the data were collected. The nowcasting method is applied to twenty-five EU …
Persistent link: https://www.econbiz.de/10011537390
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Euro area government bonds : integration and fragmentation during the sovereign debt crisis
Ehrmann, Michael; Fratzscher, Marcel - 2015
The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting...
Persistent link: https://www.econbiz.de/10010519824
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The design of fiscal consolidation measures in the European Union : distributional effects and implications for macroeconomic recovery
Figari, Francesco; Paulus, Alari; Sutherland, Holly - 2015
The financial and economic crisis which started in the late 2000s and the fiscal consolidation measures to counter the subsequent government budget deficits have an impact on household income distribution and macroeconomic recovery. We consider the austerity measures in relation to their...
Persistent link: https://www.econbiz.de/10010505115