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While there is increasing interest in decarbonising or greening monetary policy, central banks are keen to maintain market neutrality. But there is evidence that the market has a bias towards carbon-intensive companies. The paper develops a method to tilt the ECB's asset and collateral framework...
Persistent link: https://www.econbiz.de/10012851450
Central banks have already started to look at climate-related risks in the context of financial stability. Should they also take the carbon intensity of assets into account in the context of monetary policy? The guiding principle in the implementation of monetary policy has been ‘market...
Persistent link: https://www.econbiz.de/10011973267
Persistent link: https://www.econbiz.de/10003864444
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
institutional and substantive development of EU Merger Control. Firstly, Impala introduces an ambitious symmetric standard of proof …
Persistent link: https://www.econbiz.de/10003417458
An increasingly important part of contemporary merger control both in the US and the EU is unilateral effects analysis … application of these sophisticated economic tools by the EU and US authorities so far. This makes an in-depth study of the case …. Therefore, we highlight certain similarities as well as (minor) differences between the EU and US proceedings. Interestingly …
Persistent link: https://www.econbiz.de/10003417465
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"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we assess the effect of EMU on structural reform and...
Persistent link: https://www.econbiz.de/10003429626
Persistent link: https://www.econbiz.de/10003376753
Persistent link: https://www.econbiz.de/10003376762