Welche Rolle spielt die monetäre Basis in der Geldpolitik von heute? Dieser Beitrag enthält eine selektive und zeitgerechte Darstellung der Literatur über die möglichen Rollen der monetären Basis in der Geldpolitik. Er unterstreicht, dass, während die monetäre Basis den Kern des...

Well-functioning risk-sharing arrangements are essential for the shock absorbing capacity and resilience of an economy, even more so for countries in a monetary union where the single monetary policy is unable to address asymmetric shocks. The common shocks that euro area member states have been...

This paper summarises the outcomes of the analysis of the ECB Crypto-Assets Task Force. First, it proposes a characterisation of crypto-assets in the absence of a common definition and as a basis for the consistent analysis of this phenomenon. Second, it analyses recent developments in the...