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Announcements of ECB unconventional programs : implications for the sovereign spreads of stressed euro area countries

Falagiarda, Matteo; Reitz, Stefan - In: Journal of international money and finance 53 (2015), pp. 276-295

Persistent link: https://www.econbiz.de/10011475970

The macroeconomic impact of financial fragmentation in the euro area : which role for credit supply?

Bijsterbosch, Martin; Falagiarda, Matteo - In: Journal of international money and finance 54 (2015), pp. 93-115

Persistent link: https://www.econbiz.de/10011476080

The ECB After the Crisis : Existing Synergies Among Monetary Policy, Macroprudential Policies and Banking Supervision

Cassola, Nuno - 2019

The prolonged crisis exposed the vulnerability of a monetary union without a banking union. The Single Supervisory Mechanism (SSM), which started operating in November 2014, is an essential step towards restoring banks to health and rebuilding trust in the banking system. The ECB is today...

Persistent link: https://www.econbiz.de/10012858961

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

The Role of Financial Stability Considerations in Monetary Policy and the Interaction with Macroprudential Policy in the Euro Area

Albertazzi, Ugo; Assouan, Emmanuelle; Tristani, Oreste; … - 2021

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/10013210834

Structural Features of Distributive Trades and Their Impact on Prices in the Euro Area

Anderton, Robert; Meyler, Aidan; Gattini, Luca; … - 2021

The distributive trades, consisting of wholesaling and retailing, are a key sector of the economy. As the main interface between producers and consumers, the sector is particularly important from a monetary policy point of view: this is where most consumer goods prices are ultimately set....

Persistent link: https://www.econbiz.de/10013316047

How informative are real time output gap estimates in Europe?

Kangur, Alvar; Kirabaeva, Koralai; Natal, Jean-Marc; … - 2019

We study the properties of the IMF-WEO estimates of real-time output gaps for countries in the euro area as well as the determinants of their revisions over 1994-2017. The analysis shows that staff typically saw economies as operating below their potential. In real time, output gaps tend to have...

Persistent link: https://www.econbiz.de/10012103755

Explaining the shadow economy in Europe : size, causes and policy options

Kelmanson, Ben; Kirabaeva, Koralai; Medina, Leandro; … - 2019

This paper examines the drivers, and reestimates the size of shadow economies in Europe, with a focus on the emerging economies, and recommends policies to increase formality. The size of shadow economies declined across Europe in recent years but remains significant, especially in Eastern...

Persistent link: https://www.econbiz.de/10012155041

A Tale of Three Crises : Synergies between ECB Tasks

Kok, Christoffer; Mongelli, Francesco Paolo; … - 2022

events heralded significant reforms of the EU’s governance and financial architecture. On the tail of these two crises, the … sequence of financial reforms has improved the sector’s ability to deal with major macro-financial shocks at the EU/euro area … that during the same period major developments within the EU non-bank financial sector were observed. The COVID19 crisis …

Persistent link: https://www.econbiz.de/10013491770

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

Persistent link: https://www.econbiz.de/10014354649