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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

Promoting inclusive growth through better regulation : the role of regulatory impact assessment

Deighton-Smith, Rex; Erbacci, Angelo; Kauffmann, Céline - 2016

Regulatory Impact Assessment (RIA) is a critical tool in the hands of governments to ensure that regulation achieves its objectives. Inclusive growth has become an important objective of the political agenda of OECD countries. This paper examines the potential contribution of RIA to better...

Persistent link: https://www.econbiz.de/10011732382

International trade and good regulatory practices : assessing the trade impacts of regulation

Basedow, Robert; Kauffmann, Céline - 2016

Good Regulatory Practices encompassing the use of regulatory impact assessments, stakeholder engagement and ex post evaluation are a critical tool in the hands of governments to ensure that regulation achieves its objectives. Over the past several years, attention has grown for the trade costs...

Persistent link: https://www.econbiz.de/10011732383

Building regulatory policy systems in OECD countries

Arndt-Bascle, Christiane; Hermanutz, Sarah; Kauffmann, … - 2016

This paper exploits the rich dataset collected in the context of the 2014 Regulatory Indicators Survey to analyse how countries put in place the building blocks of their regulatory policy systems. It complements the 2015 OECD Regulatory Policy Outlook by systematically examining country...

Persistent link: https://www.econbiz.de/10011732386

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