Showing 1 - 10 of 42
This paper provides an assessment of Russia’s long-term growth prospects. In particular, it addresses the question of … Russia’s fast economic expansion in recent years has benefited from a number of singular factors such as the unprecedented … rise in oil prices, the paper presents new evidence on Russia’s oil price dependency using a Vector Error Correction Model …
Persistent link: https://www.econbiz.de/10011606210
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/10011606198
The distributive trades sector, which is primarily accounted for by wholesale and retail trade, is not only economically important in its own right, but also relevant to monetary policy. Ultimately, it is retailers who set the actual prices of most consumer goods. They are the main interface...
Persistent link: https://www.econbiz.de/10011606280
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/10011606245
This paper analyses trends in sectoral specialisation in the EU and concludes the following: 1) The European production structure appears more homogenous than that of the US. 2) While sectoral specialisation has shown a slight increase in some smaller euro area countries towards the end-1990s,...
Persistent link: https://www.econbiz.de/10011606171
The paper provides an overview of the hedge fund industry, mainly from a financial stability and European angle. It is primarily based on an extensive analysis of information from the TASS database. On the positive side of the financial stability assessment, hedge funds have a role as providers...
Persistent link: https://www.econbiz.de/10011606186
This paper – based on a report by a Task Force established by the International Relations Committee (IRC) of the European System of Central Banks (ESCB) – reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and...
Persistent link: https://www.econbiz.de/10011606200
This paper reviews the role and effects of the collateral framework which central banks, and in particular the Eurosystem, use in conducting temporary monetary policy operations. First, the paper explains the design of such a framework from the perspective of risk mitigation, which is the...
Persistent link: https://www.econbiz.de/10011606201
This paper offers a new framework for the assessment of financial market liquidity and identifies two types: search liquidity and systemic liquidity. Search liquidity, i.e. liquidity in “normal” times, is driven by search costs required for a trader to find a willing buyer for an asset...
Persistent link: https://www.econbiz.de/10011606202
Commodity prices play an important role in economic developments in most of the 24 Western and Central African (WCA) countries covered in this paper. It is confirmed that in the light of rising commodity prices between 1999 and 2005, net oil exporters recorded strong growth rates while net...
Persistent link: https://www.econbiz.de/10011606212