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Understanding Low Inflation in the Euro Area from 2013 to 2019 : Cyclical and Structural Drivers
Koester, Gerrit; Lis, Eliza; Nickel, Christiane; Osbat, … - 2021
From 2013 up to the launch of the ECB’s strategy review in January 2020, inflation in the euro area was low and over …-predicted. This low inflation during the years 2013-19 can be attributed to a combination of interconnected factors. Cyclical … developments account for a substantial share of the fall in underlying inflation, mainly in the first part of the low inflation …
Persistent link: https://www.econbiz.de/10013210844
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Financial Shocks and the Macroeconomy : Heterogeneity and Non-Linearities
Hubrich, Kirstin - 2013
This paper analyses the transmission of financial shocks to the macroeconomy. The role of macro-financial linkages is investigated from an empirical perspective for the euro area as a whole, for individual euro area member countries and for other EU and OECD countries. The following key economic...
Persistent link: https://www.econbiz.de/10013088959
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Output Growth Differentials Across the Euro Area Countries : Some Stylised Facts
Benalal, Nicholai - 2006
The aim of this study is to investigate the extent to which the dispersion of real GDP growth rates has changed over the past few years and whether the synchronisation of business cycles has increased among the euro area countries. The study is divided into two main parts. The first focuses on...
Persistent link: https://www.econbiz.de/10012783676
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Economic Structures 20 Years into the Euro
Sondermann, David - 2019
Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and sovereign debt crises exposed the limited resilience of the euro area's economic structures. Economic growth was masking underlying weaknesses in several euro area countries....
Persistent link: https://www.econbiz.de/10012868456
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Potential Output from a Euro Area Perspective
Anderton, Robert - 2015
This paper reviews potential output from a euro area perspective by summarising the developments according to international institutions and assessing the impact of the crisis. The paper also considers the methodological basis for potential output estimates, and the high degree of uncertainty...
Persistent link: https://www.econbiz.de/10013032604
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Evolution of the Ecb's Analytical Framework
Holm-Hadulla, Federic; Musso, Alberto; Vlassopoulos, Thomas - 2021
for economic activity and inflation. Furthermore, its focus has strengthened with regard to structural trends in shaping …
Persistent link: https://www.econbiz.de/10013210828
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Digitalisation : Channels, Impacts and Implications for Monetary Policy in the Euro Area
Consolo, Agostino; Cette, Gilbert; Bergeaud, Antonin; … - 2021
the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent … lagging behind the United States and Japan. Rising digitalisation has rendered price measurement more challenging, owing to …
Persistent link: https://www.econbiz.de/10013210842
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Virtually Everywhere? Digitalisation and the Euro Area and EU Economies
Anderton, Robert - 2020
Digitalisation can be viewed as a major supply/technology shock affecting macroeconomic aggregates that are important for monetary policy, such as output, productivity, investment, employment and prices. This paper takes stock of developments in the digital economy and their possible impacts...
Persistent link: https://www.econbiz.de/10012829748
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Economic Structures 20 Years into the Euro
Sondermann, David; Consolo, Agostino; Gunnella, Vanessa; … - 2021
Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and sovereign debt crises exposed the limited resilience of the euro area’s economic structures. Economic growth was masking underlying weaknesses in several euro area countries....
Persistent link: https://www.econbiz.de/10013322232
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Understanding Low Wage Growth in the Euro Area and European Countries
Nickel, Christiane - 2019
Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments...
Persistent link: https://www.econbiz.de/10012863649