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Green Bonds as an Instrument to Finance Low Carbon Transition

Sartzetakis, Eftichios - 2022

The present paper examines the role that green bonds can play in financing the transition to low carbon economy. We first establish the need for central banks to respond to climate change challenges and we present the main ways in which they can get involved. We explain why green bonds should be...

Persistent link: https://www.econbiz.de/10013492498

Τhe Effects of Climate Change on a Small Open Economy

Xepapadeas, Anastasios; Economides, George - 2022

We investigate the impact of climate change on the macroeconomic performance of a small open economy. The setup is a new Keynesian dynamic stochastic general equilibrium model of a small open economy without monetary policy independence in which a climate module that interacts with the economy...

Persistent link: https://www.econbiz.de/10014078079

Monetary Policy Under Climate Change

Xepapadeas, Anastasios; Economides, George - 2022

We study monetary policy under climate change in order to answer the question of whether monetary policy should take into account the expected impacts of climate change. The setup is a new Keynesian dynamic stochastic general equilibrium model of a closed economy in which a climate module that...

Persistent link: https://www.econbiz.de/10014078156

New Facts on Consumer Price Rigidity in the Euro Area

Gautier, Erwan; Conflitti, Cristina; Faber, Riemer P.; … - 2022

Using CPI micro data for 11 euro area countries covering about 60% of the euro area consumption basket over the period 2010-2019, we document new findings on consumer price rigidity in the euro area: (i) each month on average 12.3%of prices change, which compares with 19.3% in the United States;...

Persistent link: https://www.econbiz.de/10014078066

Solidarity in the Eurozone

Eleftheriadis, Pavlos - 2022

considered to be that of solidarity. Yet, solidarity is a puzzling concept. Although it is mentioned in the EU treaties, it does …

Persistent link: https://www.econbiz.de/10014078093

Fiscal Structural Reforms : The Effect of Card Payments on Vat Revenue in the Euro Area

Hondroyiannis, G.; Papaoikonomou, Dimitrios - 2022

The use of traceable payment methods presents an additional reform option for improving tax compliance. As regards consumption, card payments are the main alternative to cash in the euro area. Although the use of micro-data has provided clear evidence in favour of increasing information trails,...

Persistent link: https://www.econbiz.de/10014078155

Fiscal Adjustment and Debt Sustainability : Greece 2010-2016 and Beyond

Karavitis, Nicholas E. - 2022

This paper reviews the fiscal developments that led Greece from a successful convergence process and the adoption of the Euro to an unprecedented prolonged recession. Analysis of all fiscal aggregates reveals the policies behind the sovereign crisis, both on the expenditure and the revenue side....

Persistent link: https://www.econbiz.de/10014078158

Foreign Ownership and Market Power : The Special Case of European Banks

Samantas, Ioannis; Alexakis, Panayotis - 2022

The paper examines the nexus of foreign ownership and market power in 26 European banking sectors, for the period 1997-2013. The sample comprises 11,761 bank-year estimates of marginal cost and market power, which are then matched with data on the foreign ownership status and presence across all...

Persistent link: https://www.econbiz.de/10014078160

Labour Market Adjustment in Europe During the Crisis : Microeconomic Evidence from the Wage Dynamics Network Survey

Kosma, Theodora; Izquierdo, Mario; Jimeno, Juan F.; … - 2022

Against the backdrop of continuing adjustment in EU labour markets in response to the Great Recession and the sovereign … that took place in the European Union (EU) during the period 2010-13. This paper summarises the main results of WDN3 by … survey in terms of both the general response of EU labour markets to the crisis and how these responses varied across the …

Persistent link: https://www.econbiz.de/10014078170

A New Approach to Governance and Integration in Emu for an Optimal Use of Economic Policy Framework - Priority to Financial Union

Papaspyrou, Theodoros - 2022

optimal use of the existing EU institutional framework for economic, fiscal and financial policies is necessary and possible … strong evidence, within the EU and beyond, of their usefulness and for which widespread political support exists, maximizing …

Persistent link: https://www.econbiz.de/10014078175