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Debt stabilizing fiscal rules
Michel, Philippe; Thadden, Leopold von; Vidal, Jean-Pierre - 2006
Persistent link: https://www.econbiz.de/10009269065
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The minimum liquidity deficit and the maturity structure of central banks' open market operations : lessons from the financial crisis
Eisenschmidt, Jens; Holthausen, Cornelia - 2010
This paper studies the relationship between the size of the banking sector’s refinancing needs vis-à-vis the central bank and auction rates in its open market operations in times of financial market stress. In a theoretical model, it is found that marginal rates at central bank auctions may...
Persistent link: https://www.econbiz.de/10008771777
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Funding behaviour of debt management offices and the ECB's Public Sector Purchase Programme
Plessen-Mátyás, Katharina; Kaufmann, Christoph; … - 2021
This paper investigates whether the funding behaviour of euro area debt management offices (DMOs) changed with the … economic implications of public debt management during the PSPP and its relevance for monetary policy transmission. …
Persistent link: https://www.econbiz.de/10012518265
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The architecture of supervision
Ampudia, Miguel; Beck, Thorsten; Beyer, Andreas; … - 2019
The architecture of supervision - how we define the allocation of supervisory powers to different policy institutions - can have implications for policy conduct and for the economic and financial environment in which these policies are implemented. Theoretically, an integrated structure for...
Persistent link: https://www.econbiz.de/10012009232
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Tiered CBDC and the financial system
Bindseil, Ulrich - 2020
IT progress and its application to the financial industry have inspired central banks and academics to analyse the merits of central bank digital currencies (CBDC) accessible to the broad public. This paper first reviews the advantages and risks of such CBDC. It then discusses two prominent...
Persistent link: https://www.econbiz.de/10012137675
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Monetary/fiscal policy regimes in post-war Europe
Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023
In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and … simulations reveal that the PM/AF regime in France led to price volatility and debt stabilisation, while the AM/PF regime resulted … in disinflation and rising debt trajectory. Meanwhile, Italy's procyclical fiscal policy in downturns contributed to …
Persistent link: https://www.econbiz.de/10014482924
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Revisiting fiscal sustainability : panel cointegration and structural breaks in OECD countries
Afonso, António; Jalles, João Tovar - 2012
Persistent link: https://www.econbiz.de/10009765143
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Fiscal stimulus in times of high debt : reconsidering multipliers and twin deficits
Nickel, Christiane; Tudyka, Andreas - 2013
Persistent link: https://www.econbiz.de/10009765549
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Budget institutions and fiscal performance in Central and Eastern European Countries
Gleich, Holger (contributor) - 2003
Persistent link: https://www.econbiz.de/10001749469
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Household saving and fiscal policy : evidence for the euro area from a thick modelling perspective
Checherita-Westphal, Cristina; Stecher, Marcel - 2021
We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999-2019. To this extent, we propose a thick modelling approach, which allows a vast number of model specifications in a dynamic panel setting. We find that fiscal expansions are...
Persistent link: https://www.econbiz.de/10012745340