Similar Search Results

Flight from the Old Euro-Area Currencies

Sinn, Hans-Werner - In: CESifo Forum 02 (2001) 4, pp. 44-47

Persistent link: https://www.econbiz.de/10011695675

Blattner, Tobias; Catenaro, Marco; Ehrmann, Michael; … - 2008

Current best practice in central banking views a high level of monetary policy predictability as desirable. A clear distinction, however, has to be made between short-term and longer-term predictability. While short-term predictability can be narrowly defined as the ability of the public to...

Persistent link: https://www.econbiz.de/10011606235

The impact of the global economic and financial crisis on central, eastern and south-eastern Europe: A stock-taking exercise

Gardó, Sándor (contributor); Martin, Reiner (contributor) - 2010

The paper first reviews the main drivers of the growth and real convergence process in central, eastern and south-eastern Europe (CESEE) since 2000 and assesses the key macro-financial strengths and vulnerabilities of the region at the beginning of the global economic and financial crisis. The...

Persistent link: https://www.econbiz.de/10011606266

The Stability and Growth Pact - crisis and reform

Schuknecht, Ludger; Moutot, Philippe; Rother, Philipp; … - 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/10011606281

Money and inflation in the euro area during the financial crisis

Dreger, Christian; Wolters, Jürgen - 2011

This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by … prices are allowed to enter the long run relationship. By restricting the cointegrating space, equations for money and … inflation are identified. The results indicate that the equilibrium evolution of M3 is still in line with money demand. In the …

Persistent link: https://www.econbiz.de/10010304804

Exchange Rates and the Money Demand Process during the Persistently High Inflation Period in the Turkish Economy: Causes and Dynamics

Bilal, Savaş - 2008

The money demand process in Turkey during the period 1987:1-2002:3 can be explained better in the sense of Cagan (1956 …) rather than in the sense of Sargent et al.(1973).Cagan assumes the exogeneity of money. Sargent et al. suggest the … endogeneity of money. Implicitly, the money supply process with regard to Turkish inflation is unpredictable with respect to the …

Persistent link: https://www.econbiz.de/10010320473

The bank lending survey for the euro area

Berg, Jesper; Ferrando, Annalisa; de Bondt, Gabe; … - 2005

This occasional paper explains why the bank lending survey was developed by the ECB and describes its main features. It discusses the importance of credit developments for both the economy and the functioning of monetary policy, and further clarifies why the survey was introduced. Furthermore,...

Persistent link: https://www.econbiz.de/10011606175

The monetary presentation of the euro area balance of payments

Bê Duc, Louis; Mayerlen, Frank; Sola, Pierre - 2008

counterpart of money, as reflected in the balance sheet of the banking sector, and the balance of payments. From a statistical …

Persistent link: https://www.econbiz.de/10011606248

Analysing banking sector conditions - how to use macro-prudential indicators

Mörttinen, Leena; Poloni, Paolo; Sandars, Patrick; … - 2005

This paper presents the methodological and statistical framework for macro-prudential analysis of the financial condition of the EU banking sector that has been adopted by the European System of Central Banks (ESCB). The framework is also a central component of broader financial stability...

Persistent link: https://www.econbiz.de/10011606178

The working of the eurosystem - monetary policy preparations and decision-making – selected issues

Moutot, Philippe; Jung, Alexander; Mongelli, Francesco Paolo - 2008

The ECB’s monetary policy has received considerable attention in recent years. This is less the case, however, for its regular monetary policy preparation and decision-making process. This paper reviews how the factors usually considered as critical for the success of a central banking system...

Persistent link: https://www.econbiz.de/10011606231