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Price Adjustment in the Euro Area in the Low-Inflation Period : Evidence from Consumer and Producer Micro Price Data
Gautier, Erwan; Karadi, Peter; Amann, Juergen; … - 2023
This paper documents five stylised facts relating to price adjustment in the euro area, using various micro price datasets collected in a period with relatively low and stable inflation. First, price changes are infrequent in the core sectors. On average, 12% of consumer prices change each...
Persistent link: https://www.econbiz.de/10014353273
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Enhancing Climate Resilience of Monetary Policy Implementation in the Euro Area
Aubrechtova, Jana; Heinle, Elke; Porcel, Rafel Moyà; … - 2023
Central banks around the world are increasingly monitoring climate change risks and how these affect their balance sheets and their monetary policy transmission. The European Central Bank (ECB) extensively reviewed its monetary policy implementation framework in 2020-21 to better account also...
Persistent link: https://www.econbiz.de/10014353833
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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
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/10014354649
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Euro Area Fiscal Policies and the Crisis
van Riet, Ad - 2010
In mid-September 2008, a global financial crisis erupted which was followed by the most serious worldwide economic recession for decades. As in many other regions of the world, governments in the euro area stepped in with a wide range of emergency measures to stabilise the financial sector and...
Persistent link: https://www.econbiz.de/10012758043
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Russia, EU Enlargement and the Euro
Polanski, Zbigniew - 2015
This paper reviews selected aspects of economic relations between the EU and Russia, focusing on the impact that the … last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that … if EU enlargement has had any diversion effects on trade between the EU and Russia at all, they have been minimal, while …
Persistent link: https://www.econbiz.de/10012750208
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Understanding Low Wage Growth in the Euro Area and European Countries
Nickel, Christiane - 2019
growth and provides comparable analyses on wage developments in the euro area as a whole and in individual EU countries. The …
Persistent link: https://www.econbiz.de/10012863649
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A Fiscal Capacity for the Euro Area : Lessons from Existing Fiscal-Federal Systems
Burriel, Pablo - 2020
After the financial and economic crisis in Europe, a broad consensus has emerged that a stronger fiscal dimension may be needed to complete the architecture of Economic and Monetary Union (EMU). This paper analyses the performance of interregional transfers in existing fiscal-federal systems,...
Persistent link: https://www.econbiz.de/10012837540
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Revisiting the Monetary Presentation of the Euro Area Balance of Payments
Picón Aguilar, Carmen - 2020
We explain how the external counterpart of the euro area M3 can be analysed by using the euro area balance of payments (b.o.p.). This is possible because the net external assets of the monetary financial institutions (MFIs) are present in two statistical frameworks that follow similar...
Persistent link: https://www.econbiz.de/10012841808
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Completing the Banking Union with a European Deposit Insurance Scheme : Who is Afraid of Cross-Subsidisation?
Carmassi, Jacopo - 2018
On 24 November 2015, the European Commission published a proposal to establish a European Deposit Insurance Scheme (EDIS). The proposal provides for the creation of a Deposit Insurance Fund (DIF) with a target size of 0.8% of covered deposits in the euro area and the progressive mutualisation of...
Persistent link: https://www.econbiz.de/10012921873
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The Transition of China to Sustainable Growth – Implications for the Global Economy and the Euro Area
Dieppe, Alistair - 2018
China's rise has been the economic success story of the past four decades but economic growth has been slowing and domestic imbalances have widened. This paper analyses the recent evolution of China's imbalances, the risks they pose to the economic outlook and the potential impact of a...
Persistent link: https://www.econbiz.de/10012928882