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Blattner, Tobias Sebastian - 2008

Current best practice in central banking views a high level of monetary policy predictability as desirable. A clear distinction, however, has to be made between short-term and longer-term predictability. While short-term predictability can be narrowly defined as the ability of the public to...

Persistent link: https://www.econbiz.de/10012772989

The Distribution of Excess Liquidity in the Euro Area

Baldo, Luca - 2017

Since 2008, excess liquidity – defined as the sum of holdings of central bank reserves in excess of reserve requirements and holdings of equivalent central bank deposits – has tended to accumulate in specific euro area countries and in a small, slowly changing group of credit...

Persistent link: https://www.econbiz.de/10012943463

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

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

Clear, Consistent and Engaging : ECB Monetary Policy Communication in a Changing World

Assenmacher, Katrin; Glöckler, Gabriel; Holton, Sarah; … - 2021

This paper examines the importance of central bank communication in ensuring the effectiveness of monetary policy and in underpinning the credibility, accountability and legitimacy of independent central banks. It documents how communication has become a monetary policy tool in itself; one...

Persistent link: https://www.econbiz.de/10013210829

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

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

Virtually Everywhere? Digitalisation and the Euro Area and EU Economies

Anderton, Robert - 2020

developments in the digital economy and their possible impacts across the euro area and European Union (EU) economies. It also …: (i) there is significant country heterogeneity across the EU in terms of the adoption of digital technologies, and most … EU countries are falling behind competitors, particularly the United States; (ii) digitalisation is affecting the economy …

Persistent link: https://www.econbiz.de/10012829748

Inflation Persistence and Price-Setting Behaviour in the Euro Area - a Summary of the Ipn Evidence

Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2021

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings are: i) Under the current monetary policy regime, the...

Persistent link: https://www.econbiz.de/10013318305