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Energy markets and the euro area macroeconomy
2010
impact of energy price changes on overall inflation in the future. For instance, the reaction of HICP inflation to energy …
Persistent link: https://www.econbiz.de/10011606265
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Low Inflation in the Euro Area : Causes and Consequences
Ciccarelli, Matteo - 2017
After 2012, inflation has been unexpectedly low across much of the developed world and economists speak of a “missing … inflation” puzzle, namely inflation was expected to be higher on the back of an ongoing recovery. This paper investigates the … causes and consequences of low inflation in the euro area after 2012 and analyses whether monetary policy has been successful …
Persistent link: https://www.econbiz.de/10012963903
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The predictability of monetary policy
Blattner, Tobias; Catenaro, Marco; Ehrmann, Michael; … - 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/10011606235
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The collateral frameworks of the Eurosystem, the Federal Reserve System and the Bank of England and the financial market turmoil
Cheun, Samuel; von Köppen-Mertes, Isabel; Weller, Benedict - 2009
In response to the turmoil in global financial markets which began in the second half of 2007, central banks have changed the way in which they implement monetary policy. This has drawn particular attention to the type of collateral used for backing central banks’ temporary open market...
Persistent link: https://www.econbiz.de/10011606259
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The impact of the global economic and financial crisis on central, eastern and south-eastern Europe: A stock-taking exercise
Gardó, Sándor (contributor); Martin, Reiner (contributor) - 2010
The paper first reviews the main drivers of the growth and real convergence process in central, eastern and south-eastern Europe (CESEE) since 2000 and assesses the key macro-financial strengths and vulnerabilities of the region at the beginning of the global economic and financial crisis. The...
Persistent link: https://www.econbiz.de/10011606266
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Financial stability challenges in EU candidate countries - Financial systems in the aftermath of the global crisis
2010
This paper reviews financial stability challenges in the EU candidate countries: Croatia, the former Yugoslav Republic of Macedonia and Turkey. It follows a macro-prudential approach, emphasising systemic risks and the stability of financial systems as a whole. The paper recalls that the...
Persistent link: https://www.econbiz.de/10011606267
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The Stability and Growth Pact - crisis and reform
Schuknecht, Ludger; Moutot, Philippe; Rother, Philipp; … - 2011
The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve public finances, while the Stability and Growth Pact was watered...
Persistent link: https://www.econbiz.de/10011606281
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Some lessons from the financial crisis for the economic analysis
Kenny, Geoff; Morgan, Julian - 2011
The economics profession in general, and economic forecasters in particular, have faced some understandable criticism for their failure to predict the timing and severity of the recent economic crisis. In this paper, we offer some assessment of the performance of the Economic Analysis conducted...
Persistent link: https://www.econbiz.de/10011606282
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Strengthening the role of local currencies in EU candidate and potential candidate countries
Windischbauer, Ulrich - 2016
inflation and macroeconomic imbalances, close economic and financial linkages with the euro area, as well as the perspective of …
Persistent link: https://www.econbiz.de/10011606322
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Low inflation in the euro area: Causes and consequences
Ciccarelli, Matteo (contributor); Osbat, Chiara (contributor) - 2017
After 2012, inflation has been unexpectedly low across much of the developed world and economists speak of a “missing … inflation” puzzle, namely inflation was expected to be higher on the back of an ongoing recovery. This paper investigates the … causes and consequences of low inflation in the euro area after 2012 and analyses whether monetary policy has been successful …
Persistent link: https://www.econbiz.de/10011606333