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Euro area labour markets and the crisis
2012
Persistent link: https://www.econbiz.de/10009772646
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Comparisons and contrasts of the impact of the crisis on euro area labour markets
2015
Persistent link: https://www.econbiz.de/10010480948
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Towards a single performance indicator in the EU's fiscal governance framework : an assessment of the expenditure and structural balance rules in the European fiscal governance fra...
Benalal, Nicholai; Freier, Maximilian; Melyn, Wim; … - 2022
A key element of the European reform agenda is to simplify the EU fiscal governance framework by moving towards a …. This paper puts forward an in-depth analysis of two alternative fiscal performance indicators currently used in the EU … the EU fiscal governance framework has advantages over the change in the structural balance. However, it still has scope …
Persistent link: https://www.econbiz.de/10012800643
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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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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
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Asset encumbrance in euro area banks : analysing trends, drivers and prediction properties for individual bank crises
Berthonnaud, Pierre; Cesati, Enrico; Drudi, Maria Ludovica - 2021
Asset encumbrance is a central concept in the context of banks’ liquidity crises, as it is associated with their capacity to obtain secured funding. This occasional paper summarises the work carried out by the task force on asset encumbrance, bringing together analyses by the ECB and those...
Persistent link: https://www.econbiz.de/10012617772
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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 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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Taking stock of the functioning of the EU fiscal rules and options for reform
Kamps, Christophe; Leiner-Killinger, Nadine - 2019
This paper reviews developments in fiscal rules in the European Union (EU) from the entering into force of the Treaty … that fiscal positions in the EU and the euro area are now more favourable than they would have been in the absence of the …
Persistent link: https://www.econbiz.de/10012063785
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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 … national approaches within the EU for assessing and monitoring such cross-border spillover effects. The paper accompanies an …
Persistent link: https://www.econbiz.de/10012254361