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The growth-at-risk perspective on the system-wide impact of Basel III finalisation in the euro area
Budnik, Katarzyna; Dimitrov, Ivan; Giglio, Carla; … - 2021
the reform, namely a transitory reduction in euro area gross domestic product (GDP) and in lending to the non …-term costs of the reform. …
Persistent link: https://www.econbiz.de/10012602350
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The economic impact of the NPL coverage expectations in the euro area
Budnik, Katarzyna; Dimitrov, Ivan; Groß, Johannes; … - 2022
This paper looks at the macroeconomic impact of the two policies proposed by ECB Banking Supervision to tackle the high share of non-performing loans (NPLs) on the balance sheets of euro area banks. The first is the coverage expectations for new NPLs set out in the Addendum to the ECB's NPL...
Persistent link: https://www.econbiz.de/10013286744
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The impact of regulating occupational pensions in Europe on investment and financial stability
Amzallag, Adrien (contributor); Kapp, Daniel (contributor);  … - 2014
Persistent link: https://www.econbiz.de/10010480636
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The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area
2021
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
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Assessing the efficacy, efficiency and potential side effects of the ECB's monetary policy instruments since 2014
Altavilla, Carlo; Lemke, Wolfgang; Linzert, Tobias; … - 2021
This paper summarises the work done by Eurosystem staff in the context of the Strategy Review Seminar on Monetary Policy Instruments. More specifically, it focuses on the efficacy, efficiency and potential side effects of the key monetary policy instruments employed by the European Central Bank...
Persistent link: https://www.econbiz.de/10012650793
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Digitalisation : channels, impacts and implications for monetary policy in the euro area
2021
The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent developments during the coronavirus (COVID-19) pandemic...
Persistent link: https://www.econbiz.de/10012626753
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The macroeconomic and fiscal impact of population ageing
Bodnár, Katalin; Nerlich, Carolin - 2022
The euro area, like many other advanced economies, has entered an era of drastic demographic change. Without appropriate policy responses, population ageing in the euro area is posing formidable challenges for potential growth, monetary policy and public finances. This paper examines - from a...
Persistent link: https://www.econbiz.de/10013286706
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The economic impact of next generation EU : a euro area perspective
Bańkowski, Krzysztof; Bouabdallah, Othman; Semeano, … - 2022
suggest that the envisaged national investment and reform plans present a coherent package to support both recovery from the … of successful implementation. Specifically, NGEU is expected to take effect through three channels: structural reform … disinflationary effect of greater productive capacity resulting from the planned structural reform and investment measures. …
Persistent link: https://www.econbiz.de/10013188827
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The macroeconomic impact of the Next Generation EU instrument on the euro area
Bańkowski, Krzysztof; Ferdinandusse, Marien; … - 2021
In response to the economic fallout from the coronavirus (COVID-19) pandemic, the European Council agreed on the Next Generation EU (NGEU) instrument. NGEU allows the European Commission to issue debt to finance grants and loans to EU Member States, with the disbursement of funds intended to be...
Persistent link: https://www.econbiz.de/10012417434
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Cross-border spillover effects of macroprudential policies : a conceptual framework
Kok Sørensen, Christoffer; Reinhardt, Dennis - Europäische Zentralbank / Task Force on Cross-Border … - 2020
Due to the international dimension of the financial sector within the EU and beyond, domestically oriented macroprudential policies have the potential to create material cross-border spillover effects. This occasional paper provides a detailed overview of the academic and empirical literature on...
Persistent link: https://www.econbiz.de/10012254361