Showing 1 - 10 of 916
An important aim of this paper is to take shifts in the long-term anchor in the empirical specifications. The study examines exchange-rate pass-through and external adjustment in the euro area. The impact on third-country trade and investment is also discussed. A better understanding of the...
Persistent link: https://www.econbiz.de/10014405220
This paper focuses on euro area policies. The monetary policy stance remains appropriate for now. Fiscal policies are falling well short of consolidation requirements, and the area remains insufficiently prepared for the looming demographic shock. Past fiscal policy failures, notably...
Persistent link: https://www.econbiz.de/10014405842
The continuing weakness of activity in the euro area reflects an amalgam of cyclical and long-term forces that are likely to shape the outlook and to challenge policies. Financial conditions in the area have improved along with those in global markets, though financial fragilities may be...
Persistent link: https://www.econbiz.de/10014406180
This paper examines the monetary and exchange rate policies of the euro area and the trade policies of the European Union. The paper highlights that the overall economic performance of the euro area has been disappointing: growth has been weaker and inflation higher than generally expected. To a...
Persistent link: https://www.econbiz.de/10014406355
has picked up, responding to strong foreign demand and relaxed financial conditions. The final domestic demand growth … will increasingly be sustained by domestic demand growth …
Persistent link: https://www.econbiz.de/10014406476
This Selected Issues paper discusses the effectiveness of monetary policy in the euro area in the context of the financial crisis, the need for special resolution regimes for financial institutions in the European Union (EU), and the proposed new EU financial stability arrangements. The paper...
Persistent link: https://www.econbiz.de/10014406671
This report describes the monetary and exchange rate policies of the euro area and the euro area stability programs. The Stability and Growth Pact presents annual stability programs (SPs), which outlines the medium-term fiscal objectives. The paper provides a preliminary review of the SPs,...
Persistent link: https://www.econbiz.de/10014406861
This paper reviews the recent growth experience of the Greek and Portuguese economies and their determinants, comparing it with the rest of the euro area as well as a large set of other economies. Estimates from fixed effects panel and cross-section regressions are used to estimate how changes...
Persistent link: https://www.econbiz.de/10014407303
internal demand, and low inflation. Executive Directors agreed that favorable external developments and sound macroeconomic …
Persistent link: https://www.econbiz.de/10014407384
Persistent link: https://www.econbiz.de/10014407410