Showing 1 - 10 of 180
Since the European Central Bank’s (ECB’s) 2003 strategy review, the importance of macro-financial amplification channels for monetary policy has increasingly gained recognition. This paper takes stock of this evolution and discusses the desirability of further incremental enhancements in the...
Persistent link: https://www.econbiz.de/10012650769
In January 2007 the International Monetary Fund (IMF) published, on an ad hoc basis, a series of financial soundness indicators (FSIs) based on a common methodology (the IMF compilation Guide) for 62 countries, including all 27 European Union countries. The European Central Bank (ECB), jointly...
Persistent link: https://www.econbiz.de/10011639817
the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent …, aggregate productivity growth has decreased in most advanced economies since the 1970s. However, it is likely that without the … spread of digital technologies the productivity slowdown would have been even more pronounced, and the recent acceleration in …
Persistent link: https://www.econbiz.de/10012626753
The productivity-enhancing effects of digitalisation have generated increased interest in the promotion of digital … technologies. This report provides different estimations for euro area countries of the impact of digital uptake on productivity at … firm level, showing that the adoption of digital technologies could lead to an increase in firms' productivity in the …
Persistent link: https://www.econbiz.de/10014479720
The aim of this report is to foster a better understanding of past trends in, and drivers of, productivity growth in … the countries of the European Union (EU) and of the interplay between productivity and monetary policy. To this end, a … productivity growth, including within the European System of Central Banks and in the context of the review of the ECB’s monetary …
Persistent link: https://www.econbiz.de/10012627152
This paper summarises the outcome of an analysis of stablecoins undertaken by the ECB Crypto-Assets Task Force. At the time of writing, the stablecoin debate lacks a common taxonomy and unambiguous terminology. This paper applies a definition that distinguishes stablecoins from existing forms of...
Persistent link: https://www.econbiz.de/10012288134
This paper studies the short-term and long-term consequences of the COVID-19 pandemic for productivity in Europe … exercise. Productivity trends during the COVID-19 pandemic differed from past trends. Labour productivity per hour worked … temporarily increased, while productivity per employee declined across sectors given the widespread use of job retention schemes …
Persistent link: https://www.econbiz.de/10014480010
Climate change is one of the greatest challenges facing humankind this century. If left unchecked, it is likely to result in more frequent and severe climatic events, with the potential to cause substantial disruption to our economies, businesses and livelihoods in the coming decades. Yet the...
Persistent link: https://www.econbiz.de/10012627188
This investigation starts with the observation that, over the last decade, profitability rates reported by euro area (EA) banks have remained, on average, persistently below those reported by peer banks in the United States (US). In particular, banks' return on equity (ROE) has fluctuated around...
Persistent link: https://www.econbiz.de/10014334553
one of the world's most urgent priorities. This paper assesses the impact of three potential transition pathways … three key innovations. First, the design of three short-term transition scenarios that combine the transition paths …
Persistent link: https://www.econbiz.de/10014340389