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Energy Markets and the Euro Area Macroeconomy
Strauch, Rolf - 2014
This report aims to analyse euro area energy markets and the impact of energy price changes on the macroeconomy from a monetary policy perspective. The core task of the report is to analyse the impact of energy price developments on output and consumer prices. Nevertheless, understanding the...
Persistent link: https://www.econbiz.de/10013069751
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Economic Structures 20 Years into the Euro
Sondermann, David - 2019
strengthened national economic structures were supported by a reformed EU crisis and economic governance framework. However …
Persistent link: https://www.econbiz.de/10012868456
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Employment and the Conduct of Monetary Policy in the Euro Area
Brand, Claus; Coenen, Günter; Sondermann, David; … - 2021
price stability is shown to provide flexibility to contribute to the achievement of the EU’s full employment objective …
Persistent link: https://www.econbiz.de/10013210706
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The Ecb's Price Stability Framework : Past Experience, and Current and Future Challenges
Cecioni, Martina; Coenen, Günter; Motto, Roberto; le … - 2021
The ECB’s price stability mandate has been defined by the Treaty. But the Treaty has not spelled out what price stability precisely means. To make the mandate operational, the Governing Council has provided a quantitative definition in 1998 and a clarification in 2003. The landscape has...
Persistent link: https://www.econbiz.de/10013210725
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Digitalisation : Channels, Impacts and Implications for Monetary Policy in the Euro Area
Consolo, Agostino; Cette, Gilbert; Bergeaud, Antonin; … - 2021
The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and … of digital adoption differs across the euro area/EU, implying heterogeneous impacts, with most EU economies currently …. The pandemic has accelerated the use of teleworking: roughly every third job in the euro area/EU is teleworkable, although …
Persistent link: https://www.econbiz.de/10013210842
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The Need for an Inflation Buffer in the Ecb's Price Stability Objective – the Role of Nominal Rigidities and Inflation Differentials
Consolo, Agostino; Koester, Gerrit; Nickel, Christiane; … - 2021
The existence of nominal rigidities and inflation differentials between countries offers two of the main rationales for an inflation buffer in a monetary union where monetary policy is oriented towards an area-wide inflation objective. Evidence accumulated since 2003 suggests that nominal...
Persistent link: https://www.econbiz.de/10013210848
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A mixed frequency BVAR for the euro area labour market
Consolo, Agostino; Foroni, Claudia; Martínez … - 2021
We introduce a Bayesian Mixed-Frequency VAR model for the aggregate euro area labour market that features a structural identification via sign restrictions. The purpose of this paper is twofold: we aim at (i) providing reliable and timely forecasts of key labour market variables and (ii)...
Persistent link: https://www.econbiz.de/10012643283
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Economic Structures 20 Years into the Euro
Sondermann, David; Consolo, Agostino; Gunnella, Vanessa; … - 2021
strengthened national economic structures were supported by a reformed EU crisis and economic governance framework. However …
Persistent link: https://www.econbiz.de/10013322232