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Revisiting the monetary presentation of the euro area balance of payments
Aguilar, Carmen Picón; Soares, Rodrigo Oliveira; … - 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/10012165260
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Globalisation and the competitiveness of the euro area
Di Mauro, Filippo; Forster-van Aerssen, Katrin - 2008
Against the background of increasing competition and other significant structural changes implied by globalisation, maintaining and enhancing competitiveness has evolved into one of the prime concerns in most countries. Following up on previous work (see in particular ECB Occasional Papers No....
Persistent link: https://www.econbiz.de/10011639807
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Real convergence and the determinants of growth in EU candidate and potential candidate countries : a panel data approach
Borys, Magdalena Morgese; Polgár, Éva Katalin; Zlate, … - 2008
euro area remain large. This suggests that the challenges of real convergence will remain relevant for the region even in … the medium and long term. This paper therefore focuses on real convergence and its determinants in the candidate and … convergence, followed by capital deepening, whereas labour has contributed only marginally to economic growth. There is evidence …
Persistent link: https://www.econbiz.de/10011641211
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The Eurosystem's asset purchase programme and TARGET balances
Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin; … - 2017
TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...
Persistent link: https://www.econbiz.de/10011719852
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Ricardian fiscal regimes in the European Union
Afonso, António - In: Empirica : journal of european economics 35 (2008) 3, pp. 313-334
Persistent link: https://www.econbiz.de/10003726486
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Is fiscal policy in the euro area Ricardian?
Panjer, Nikki; Haan, Leo de; Jacobs, Jan - In: Empirica : journal of european economics 47 (2020) 2, pp. 411-429
Persistent link: https://www.econbiz.de/10012224278
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Discretionary fiscal policy and economic activity in Greece
Tagkalakis, Athanasios - In: Empirica : journal of european economics 41 (2014) 4, pp. 687-712
Persistent link: https://www.econbiz.de/10010482478
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Monetary-fiscal policy interactions in the euro area
2021
The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...
Persistent link: https://www.econbiz.de/10012650770
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Fiscal expenditure spillovers in the euro area : an empirical and model-based assessment
Alloza, Mario; Ferdinandusse, Marien; Jacquinot, Pascal; … - 2020
The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...
Persistent link: https://www.econbiz.de/10012206331
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Challenges for monetary and fiscal policy interactions in the postpandemic era
Bonam, Dennis (ed.); Ciccarelli, Matteo (ed.);  … - 2024
In the low inflation and low interest rate environment that prevailed over the period 2013-2020, many argued that besides expansionary monetary policy, expansionary fiscal policy could also support central banks' efforts to bring inflation closer to target. During the pandemic, proper alignment...
Persistent link: https://www.econbiz.de/10014471098