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From deficits to debt and back : political incentives under numerical fiscal rules
Buti, Marco; Nogueira Martins, João; Turrini, Alessandro - 2006
Persistent link: https://www.econbiz.de/10003381790
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A small estimated euro area model with rational expectations and nominal rigidities
Coenen, Günter - 2002
Persistent link: https://www.econbiz.de/10013424143
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Jump-starting the euro area recovery : would a rise in core fiscal spending help the periphery?
Blanchard, Olivier; Erceg, Christopher J.; Lindé, Jesper - 2015
Persistent link: https://www.econbiz.de/10011317778
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Monetary-fiscal policy interactions in the euro area
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/10012650770
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Fiscal expenditure spillovers in the euro area : an empirical and model-based assessment
Alloza, Mario; Ferdinandusse, Marien; Jacquinot, Pascal; … - 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/10012206331
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NGFS climate scenarios for the euro area : role of fiscal and monetary policy conduct : opening up the macroeconomic toolbox and its sensitivity to policy settings
Darracq Pariès, Matthieu; Dées, Stéphane; De Gaye, … - 2023
In this paper we analyse the sensitivity of the macroeconomic outcomes under the Network for Greening the Financial System's (NGFS's) Phase III net-zero and delayed transition scenarios to different monetary and fiscal policy settings. In doing so, we provide a rare application of the NGFS...
Persistent link: https://www.econbiz.de/10014442796
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Liquidity in resolution : comparing frameworks for liquidity provision across jurisdictions
Grund, Sebastian; Nomm, Nele; Walch, Florian - 2020
banks in resolution. It examines the provision of liquidity in the United States, the United Kingdom, Japan, Canada and the … financial stability. This paper extends the existing research by zooming in on the specific topic of liquidity provision to … liquidity provision and the roles of the public budget and the central bank. The comparison also reveals that the role of fiscal …
Persistent link: https://www.econbiz.de/10012319162
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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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The Eurosystem's asset purchase programme and TARGET balances
Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin; … - 2017
TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...
Persistent link: https://www.econbiz.de/10011719852