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optimal monetary Policy in a new keynesian model with habits in consumption
Leith, Campbell; Moldovan, Ioana; Rossi, Raffaele - European Central Bank - 2009
While consumption habits have been utilised as a means of generating a hump shapedoutput response to monetary policy shocks in sticky-price New Keynesian economies,there is relatively little analysis of the impact of habits (particularly, external habits) onoptimal policy. In this paper we...
Persistent link: https://www.econbiz.de/10005866485
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Background studies for the ECB's evaluation of its monetary policy strategy
Issing, Otmar (contributor) - European Central Bank - 2003
Persistent link: https://www.econbiz.de/10004820102
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The role of money : money and monetary policy in the twenty-first century
Beyer, Andreas (contributor) - 2008
Persistent link: https://www.econbiz.de/10004924307
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Sectoral explanations of employment in Europe: the role of services
D’Agostino, Antonello; Serafini, Roberta; … - European Central Bank - 2006
sector, four sub-sectors and twelve service sector branches. Recently, both Europe and the US have experienced an increase in … the growth of service jobs in Europe relative to the US persists. Understanding the main factors behind this gap is key to … achieving higher employment levels in Europe. This paper focuses on the role of barriers in the EU-15 which may have hindered …
Persistent link: https://www.econbiz.de/10005344854
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Financial stability challenges in EU candidate countries - Financial systems in the aftermath of the global crisis
ESCB, An IRC expert group of the - European Central Bank - 2010
exchange rates. Looking ahead, although uncertainties remain high regarding credit quality, the shock-absorbing capacities of …
Persistent link: https://www.econbiz.de/10008539904
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Financial stability challenges in candidate countries - managing the transition to deeper and more market-oriented financial systems.
Bracke, Thierry; Geis, André; Habib, Maurizio; Móré, … - European Central Bank - 2008
This paper reviews financial stability challenges in the EU candidate countries Croatia, Turkey and the former Yugoslav Republic of Macedonia. It examines the fi nancial sectors in these three economies, which, while at very different stages of development and embedded in quite diverse economic...
Persistent link: https://www.econbiz.de/10005530652
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Finance and growth: a macroeconomic assessment of the evidence from a European angle
Papaioannou, Elias - European Central Bank - 2007
This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an emphasis on the policy implications in the current European environment, that has placed financial reforms high on the policy Agenda. While more research is needed to establish...
Persistent link: https://www.econbiz.de/10005530674
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Financial stability challenges for EU acceding and candidate countries: making financial systems more resilient in a challenging environment
ESCB, IRC Expert Group of the - European Central Bank - 2012
that large capital buffers can absorb a shock to credit quality stemming from a drop in economic activity in the EU and …
Persistent link: https://www.econbiz.de/10010688326