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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

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

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

Climate Change and Monetary Policy in the Euro Area

Drudi, Francesco; Mönch, Emanuel; Holthausen, Cornelia; … - 2021

This paper analyses the implications of climate change for the conduct of monetary policy in the euro area. It first investigates macroeconomic and financial risks stemming from climate change and from policies aimed at climate mitigation and adaptation, as well as the regulatory and fiscal...

Persistent link: https://www.econbiz.de/10013210835

The Working of the Eurosystem : Monetary Policy Preparations and Decision-Making - Selected Issues

Moutot, Philippe; Jung, Alexander; Mongelli, Francesco Paolo - 2021

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/10013316885

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