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The Eurosystem's asset purchase programme and TARGET balances

Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin; … - 2017

TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...

Persistent link: https://www.econbiz.de/10011719852

Stress-testing of liquidity risk in TARGET2

Papsdorf, Patrick (contributor); Arciero, Luca (contributor) - Europäische Zentralbank / Group on TARGET2 Stress Testing - 2017

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study … resilience of the system, defined as the network of its participants, and the appropriateness of liquidity levels under tightened … liquidity conditions. The scenarios analysed are based on extreme shocks to the value of collateral of different levels and …

Persistent link: https://www.econbiz.de/10011627053

How institutions shape the distributive impact of macroeconomic shocks : a DSGE analysis

Ahrend, Rudiger; Moeser, Charlotte; Monacelli, Tommaso - 2011

Persistent link: https://www.econbiz.de/10009689711

The sharing of macroeconomic risk : who loses (and gains) from macroeconomic shocks

Ahrend, Rudiger; Arnold, Jens Matthias; Moeser, Charlotte - 2011

Persistent link: https://www.econbiz.de/10009689718

How do structural policies affect financial crisis risk? : evidence from past crises across OECD and emerging economies

Ahrend, Rudiger; Goujard, Antoine - 2012

, vulnerability to international bank balance-sheet shocks is found to be lower in situations of abundant global liquidity …

Persistent link: https://www.econbiz.de/10009691018

A general equilibrium analysis of the effects of the 2014-2020 European Cohesion policy in the Portuguese regions

Barbero, Javier; Salotti, Simone - 2021

We analyse the impact of the investments related to the European Cohesion policy in Portugal over the 2014-2020 programming period. We use the spatial dynamic general equilibrium model RHOMOLO to identify the direct and indirect effects stemming from a variety of spending categories and economic...

Persistent link: https://www.econbiz.de/10012594032

Economic modelling to evaluate smart specialisation : an analysis on research and innovation targets in Southern Europe

Barbero, Javier; Diukanova, Olga; Gianelle, Carlo; … - 2020

We make the case for a technology-enabled approach to Smart Specialisation policy making in order to foster its effectiveness by proposing a novel type of economic impact assessment. We use the RHOMOLO model to gauge empirically the general equilibrium effects implied by the Smart Specialisation...

Persistent link: https://www.econbiz.de/10012206749

A general equilibrium analysis of the economic impact of the post-2006 EU regulation in the services sector

Barbero, Javier; Bengyuzov, Manol; Christensen, Martin … - 2022

This study uses both econometric and modelling techniques to quantify the macroeconomic impact of regulatory reforms removing barriers in the European Single Market for services that have taken place in the European Union between 2006 and 2017. It also provides scenario analyses of the impact of...

Persistent link: https://www.econbiz.de/10012887382

The transmission channels of monetary, macro- and microprudential policies and their interrelations

Beyer, Andreas; Nicoletti, Giulio; Papadopoulou, Niki; … - 2017

This paper investigates the interrelations between monetary, macro- and microprudential policies. It first provides an overview of the three policies, starting with their main instruments and objectives. Monetary policy aims at maintaining price stability and promoting balanced economic growth,...

Persistent link: https://www.econbiz.de/10011647771

Accounting for Russia's post-crisis growth

Ahrend, Rudiger - 2004

Persistent link: https://www.econbiz.de/10013427056