Showing 1 - 10 of 13
We assess the time varying features of fiscal sustainability in the euro area via revisiting the empirical relationship between the primary budget surplus and the debt-to-GDP ratio. Focusing on a sample of 11 Euro-area countries between 1999Q1 and 2013Q4 and by means of time series analyses, we...
Persistent link: https://www.econbiz.de/10013015514
We study the effects of the euro area monetary policy on the institutional sectors in Portugal during the period 2000:4 2015:4. Our results show that the single monetary policy affected some variables that are proxies for the funding of each institutional sector of the economy: general...
Persistent link: https://www.econbiz.de/10012951580
We assess the determinants of long-term sovereign yield spreads using a panel of 10 Euro area countries over the period 1999.01–2016.07 notably regarding the ECB (standard and non-standard) quantitative easing measures. Our findings indicate that the international risk, the bid-ask spread and...
Persistent link: https://www.econbiz.de/10012952163
external debt (NED) in a sample of EU countries using two complementary approaches. First, we employ both time-series and panel …
Persistent link: https://www.econbiz.de/10012955469
This paper provides new insights about the existence of expansionary fiscal consolidations in the Economic and Monetary Union, using annual panel data for 14 European Union countries over the period 1970-2012. Different measures for assessing fiscal consolidations based on the changes in the...
Persistent link: https://www.econbiz.de/10013050643
We study whether the adoption of the Euro and a single monetary policy have brought about a change in the monetary transmission mechanism and between the interactions of monetary policy, fiscal policy and financial stress in the Euro area. We find that the stylized facts of monetary transmission...
Persistent link: https://www.econbiz.de/10013050644
We study the determinants of 10-year sovereign bond yield spreads of 11 EMU member states, covering the lifetime of the euro, up until the end of 2014. Panel and SUR analyses coupled with qualitative variables show that the pricing of European debt has not been static across time and EMU...
Persistent link: https://www.econbiz.de/10012995564
In this report we update the quantitative analysis of the PEPP and PSPP conduct and analyze whether reinvestments are actually made in accordance to these claims. In prior versions of our report, we have detected patterns in the net purchases under PEPP and PSPP, which suggested systematic and...
Persistent link: https://www.econbiz.de/10014249465
economic consequences of pandemic disruptions. In addition, EU Member States have designed stimulus packages in order to …
Persistent link: https://www.econbiz.de/10013488768
The ECB Council has to take a decision on the future of its asset purchase programmes as the monetary crisis support that was appropriate in the early phase of the pandemic needs to be adjusted to new circumstances. The changing environment is characterized by an advanced recovery from the...
Persistent link: https://www.econbiz.de/10013492832