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Availability of High-Quality Liquid Assets and Monetary Policy Operations : An Analysis for the Euro Area
Grandia, Roel - 2019
This paper provides an overview of supply and demand factors influencing the availability of euro-denominated debt instruments that qualify as high-quality liquid assets (HQLA) in the euro area. The paper estimates the supply of HQLA issued by the public and private sectors as well as the...
Persistent link: https://www.econbiz.de/10012893572
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Fiscal Expenditure Spillovers in the Euro Area : An Empirical and Model-Based Assessment
Alloza, Mario - 2020
The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...
Persistent link: https://www.econbiz.de/10012836254
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Monetary-Fiscal Policy Interactions in the Euro Area
Debrun, Xavier; Masuch, Klaus; Vansteenkiste, Isabel; … - 2021
The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...
Persistent link: https://www.econbiz.de/10013210832
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Financial assistance in the euro zone : why and how? ; institutions for fiscal stability in Europe (Forum)
De Grauwe, Paul - In: CESifo DICE report : journal for institutional comparisons 9 (2011) 3, pp. 26-30
Persistent link: https://www.econbiz.de/10009422155
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EU insolvency regulation and its impact on European business : bankruptcy and bankruptcy procedures (Forum)
Wessels, Bob - In: CESifo DICE report : journal for institutional comparisons 4 (2006) 1, pp. 16-21
Persistent link: https://www.econbiz.de/10003310773
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The Distribution of Excess Liquidity in the Euro Area
Baldo, Luca - 2017
Since 2008, excess liquidity – defined as the sum of holdings of central bank reserves in excess of reserve … small, slowly changing group of credit institutions.Despite the stability of the concentration of excess liquidity in … directing flows in the period 2015-16. In addition, the more recent concentration of excess liquidity is explained by the …
Persistent link: https://www.econbiz.de/10012943463
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Sustainability of fiscal policy in the EU-15
Afonso, António - In: CESifo DICE report : journal for institutional comparisons 4 (2006) 1, pp. 34-38
Persistent link: https://www.econbiz.de/10003310794
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Fiscal policies in the EMS : a strategic analysis
De Grauwe, Paul - In: International and European monetary systems, (pp. 121-140). 1990
Persistent link: https://www.econbiz.de/10001274184
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The Stability and Growth Pact : Crisis and Reform
Schuknecht, Ludger - 2011
The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve public finances, while the Stability and Growth Pact was watered...
Persistent link: https://www.econbiz.de/10013128170
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The Size and Composition of Government Debt in the Euro Area
Hartwig Lojsch, Dagmar - 2011
This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...
Persistent link: https://www.econbiz.de/10013120240