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The legality of outright monetary transactions (OMT) of the European system of central banks

Siekmann, Helmut - 2015

of acts of an organ of the EU in principle is not the task of the GFCC. As justification for this procedure the court … preliminary rulings on several questions of EU law. In substance, the German court assessed OMT as an act of economic policy which … is not covered by the competences of the ECB. Furthermore, it judged OMT as a - by EU primary law - prohibited monetary …

Persistent link: https://www.econbiz.de/10010508472

Replacing or supplementing the euro in member states whose currency is the euro

Siekmann, Helmut - 2016

Persistent link: https://www.econbiz.de/10011560098

Capital adequacy regulation of financial conglomerates in the European Union

Yoo, Y. Emilie - 2010

the European Union (EU), financial conglomerates have become part of the biggest and most active financial market …") on 16 December 2002. The FCD was transposed into national law in the member states of the EU ("Member States") by 11 … provides for an adequate capital regulation of financial conglomerates in the EU while taking into account the underlying …

Persistent link: https://www.econbiz.de/10010386303

Law and economics of the Monetary Union

Siekmann, Helmut - 2011

mechanism needs a basis in the primary law of the EU. The treatment of the risk of "sovereign" debt in the legal framework for …

Persistent link: https://www.econbiz.de/10010387529

Forward guidance and "lower for longer" : the case of the ECB

Bletzinger, Tilman; Wieland, Volker - 2016

A number of contributions to research on monetary policy have suggested that policy should be asymmetric near the lower bound on nominal interest rates. As inflation and economic activity decline, policy should ease more aggressively than it would in the absence of the lower bound. As activity...

Persistent link: https://www.econbiz.de/10011436446

Konstruktionsfehler bei der Einlagensicherung auf EU-Ebene

Siekmann, Helmut - 2016

Persistent link: https://www.econbiz.de/10011511011

Is there a threat of self-reinforcing deflation in the Euro area? : a view through the lens of the Phillips curve

Wieland, Volker; Wolters, Maik H. - 2014

The recent decline in euro area inflation has triggered new calls for additional monetary stimulus by the ECB in order to counter the threat of a self-reinforcing deflation and recession spiral. This note reviews the available evidence on inflation expectations, output gaps and other factors...

Persistent link: https://www.econbiz.de/10010400309

Fiscal consolidation strategy : an update for the budget reform proposal of march 2013

Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2013

Recently, we evaluated a fiscal consolidation strategy for the United States that would bring the government budget into balance by gradually reducing government spending relative to GDP to the ratio that prevailed prior to the crisis (Cogan et al, JEDC 2013). Specifically, we published an...

Persistent link: https://www.econbiz.de/10010400385

Estimating the European Central Bank's "extended period of time"

Bletzinger, Tilman; Wieland, Volker - 2013

On July 4, 2013 the ECB Governing Council provided more specific forward guidance than in the past by stating that it expects ECB interest rates to remain at present or lower levels for an extended period of time. As explained by ECB President Mario Draghi this expectation is based on the...

Persistent link: https://www.econbiz.de/10010400889

The single supervisory mechanism : panacea or quack banking regulation? ; preliminary assessment of the evolving regime for the prudential supervision of banks with ECB involvement

Tröger, Tobias - 2013

other EU Member States. Joining the SSM as a non-euro area Member State is unattractive because the current legal framework …

Persistent link: https://www.econbiz.de/10010400890