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Understanding Firms' Inflation Expectations Using the Bank of Canada's Business Outlook Survey
Richards, Simone - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10012979664
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The EU's Open Strategic Autonomy from a Central Banking Perspective. Challenges to the Monetary Policy Landscape from a Changing Geopolitical Environment
Ioannou, Demosthenes; Pérez, Javier J.; Geeroms, Hans; … - 2023
are the latest in a series of episodes that have led the European Union (EU) to develop its Open Strategic Autonomy (OSA … the EU's economic interdependencies and their implications for trade and finance, with a focus on strategically important … this background, the Report discusses relevant aspects of the EU's OSA policy agenda which extend to trade, industrial and …
Persistent link: https://www.econbiz.de/10014351471
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Price Adjustment in the Euro Area in the Low-Inflation Period : Evidence from Consumer and Producer Micro Price Data
Gautier, Erwan; Karadi, Peter; Amann, Juergen; … - 2023
This paper documents five stylised facts relating to price adjustment in the euro area, using various micro price datasets collected in a period with relatively low and stable inflation. First, price changes are infrequent in the core sectors. On average, 12% of consumer prices change each...
Persistent link: https://www.econbiz.de/10014353273
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Enhancing Climate Resilience of Monetary Policy Implementation in the Euro Area
Aubrechtova, Jana; Heinle, Elke; Porcel, Rafel Moyà; … - 2023
Central banks around the world are increasingly monitoring climate change risks and how these affect their balance sheets and their monetary policy transmission. The European Central Bank (ECB) extensively reviewed its monetary policy implementation framework in 2020-21 to better account also...
Persistent link: https://www.econbiz.de/10014353833
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The Role of Financial Stability Considerations in Monetary Policy and the Interaction with Macroprudential Policy in the Euro Area
Albertazzi, Ugo; Martin, Alberto; Assouan, Emmanuelle; … - 2023
Since the European Central Bank’s (ECB’s) 2003 strategy review, the importance of macro-financial amplification channels for monetary policy has increasingly gained recognition. This paper takes stock of this evolution and discusses the desirability of further incremental enhancements in the...
Persistent link: https://www.econbiz.de/10014354649
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Inflation Expectations and Inflation Uncertainty in the Eurozone : Evidence from Survey Data
Arnold, Ivo J.M. - 2013
This paper uses the European Commission's Consumer Survey to assess whether inflation expectations have converged and whether inflation uncertainty has diminished following the introduction of the Euro in Europe. Consumers' responses to the survey suggest that inflation expectations depend more...
Persistent link: https://www.econbiz.de/10012754359
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Measuring Synchronicity and Co-Movement of Business Cycles with an Application to the Euro Area
Mink, Mark - 2011
We develop multivariate measures of synchronicity and co-movement of business cycles. In addition to synchronicity, the co-movement measure takes differences between cycle amplitudes into account that have been overlooked in most previous studies. We apply the new measures to the euro area....
Persistent link: https://www.econbiz.de/10012756787
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Euro Area Fiscal Policies and the Crisis
van Riet, Ad - 2010
In mid-September 2008, a global financial crisis erupted which was followed by the most serious worldwide economic recession for decades. As in many other regions of the world, governments in the euro area stepped in with a wide range of emergency measures to stabilise the financial sector and...
Persistent link: https://www.econbiz.de/10012758043
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Russia, EU Enlargement and the Euro
Polanski, Zbigniew - 2015
This paper reviews selected aspects of economic relations between the EU and Russia, focusing on the impact that the … last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that … if EU enlargement has had any diversion effects on trade between the EU and Russia at all, they have been minimal, while …
Persistent link: https://www.econbiz.de/10012750208
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Protectionist Responses to the Crisis - Global Trends and Implications
Bussière, Matthieu - 2014
In this paper we take a systematic look at recent trends in global protectionism and at the potential implications of a protectionist backlash for economic growth, using results from the recent economic literature and new model simulations. We find that there has so far been a moderate increase...
Persistent link: https://www.econbiz.de/10012751064