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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

The four unions “PIE” on the monetary union “CHERRY” : a new index of European institutional integration

Dorrucci, Ettore; Ioannou, Demosthenes; Mongelli, … - 2015

Persistent link: https://www.econbiz.de/10010480945

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

Monetary-fiscal policy interactions in the euro area

2021

The last review of the ECB’s monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular...

Persistent link: https://www.econbiz.de/10012650770

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

The impact of the euro on trade : two decades into monetary union

Gunnella, Vanessa; Lebastard, Laura; López-García, Paloma - 2021

The consensus back in 2008 – ten years after the introduction of the euro – was that the adoption of a common currency had made a limited impact of around 2% in total on the trade flows of the first wave of euro area countries (Baldwin et al., 2008). Since then, six more countries have...

Persistent link: https://www.econbiz.de/10012650865

The implications of globalisation for the ECB monetary policy strategy

2021

This paper assesses how globalisation has shaped the economic environment in which the ECB operates and discusses whether this warrants adjustments to the monetary policy strategy. The paper first looks at how trade and financial integration have evolved since the last strategy review in 2003....

Persistent link: https://www.econbiz.de/10012626646

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 … of digital adoption differs across the euro area/EU, implying heterogeneous impacts, with most EU economies currently …. The pandemic has accelerated the use of teleworking: roughly every third job in the euro area/EU is teleworkable, although …

Persistent link: https://www.econbiz.de/10012626753

ECB economy-wide climate stress test : methodology and results

Alogoskoufis, Spyros; Dunz, Nepomuk; Emambakhsh, Tina; … - 2021

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

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

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 banks’ reactions to economic conditions and, as a...

Persistent link: https://www.econbiz.de/10012602350