Showing 1 - 10 of 34
Persistent link: https://www.econbiz.de/10010480636
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
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
The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and … of digital adoption differs across the euro area/EU, implying heterogeneous impacts, with most EU economies currently … temporary labour market disruptions, albeit unevenly across sectors. The long-run employment effects of digitalisation can be …
Persistent link: https://www.econbiz.de/10012626753
This paper assesses the macroeconomic implications of the Basel III finalisation for the euro area, employing a large …-scale semi-structural model encompassing over 90 banks and 19-euro area economies. The new regulatory framework will influence … the reform, namely a transitory reduction in euro area gross domestic product (GDP) and in lending to the non …
Persistent link: https://www.econbiz.de/10012602350
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 … population ageing in the euro area and looks at the main challenges ahead in the next decades. Total population in the euro area …
Persistent link: https://www.econbiz.de/10013286706
share of non-performing loans (NPLs) on the balance sheets of euro area banks. The first is the coverage expectations for … assessment of the package is analysed via a semi-structural model, the Banking Euro Area Stress Test (BEAST). The coverage …
Persistent link: https://www.econbiz.de/10013286744
This paper assesses the potential economic impact of Next Generation EU (NGEU), focusing on the euro area. Its findings … pandemic-induced crisis and longer-term modernisation of the euro area economy through their digital and green transitions …, fiscal stimulus and risk premium. Overall, NGEU may increase gross domestic product (GDP) in the euro area by up to 1.5% by …
Persistent link: https://www.econbiz.de/10013188827
assesses the macroeconomic impact on the euro area of different uses of NGEU, using a large dynamic stochastic general … equilibrium (DSGE) model of the euro area and global economy (EAGLE) that has been adapted to reflect the modalities of the NGEU …
Persistent link: https://www.econbiz.de/10012417434
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