Showing 1 - 10 of 37
Persistent link: https://www.econbiz.de/10003974148
Persistent link: https://www.econbiz.de/10009659522
At the height of the European sovereign debt crisis, the European Central Bank decided to purchase distressed European government bonds. Even worse, and more importantly, the ECB is providing direct support of several hundred billions of euros to troubled banks via its normal monetary policy...
Persistent link: https://www.econbiz.de/10009663808
Persistent link: https://www.econbiz.de/10009626662
In response to the financial crisis, the ECB has had to adopt new instruments to support the euro area economy and preserve the integrity of the single currency. This has challenged the current framework of the Monetary Dialogue exercise. This paper briefly assesses the implications of enhanced...
Persistent link: https://www.econbiz.de/10010404067
Collateral plays a central role in monetary policy. In recent years, its importance has increased as uncollateralised inter-bank borrowing has gradually been replaced by collateralised central bank lending. This has in turn affected collateral availability and the need for high-quality assets....
Persistent link: https://www.econbiz.de/10010504556
Persistent link: https://www.econbiz.de/10008759381
Persistent link: https://www.econbiz.de/10003803392
Persistent link: https://www.econbiz.de/10002455987
Given the shortcomings of the current responses to the sovereign debt crisis in the eurozone, the author proposes utilising national gold reserves as collateral for government debt. Gold backing would be quite attractive to bond investors and would significantly ease the burden of high sovereign...
Persistent link: https://www.econbiz.de/10009775696