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How much fiscal backing must the ECB have? : the euro area is not the Philippines
Belke, Ansgar - 2010
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led some commentators to argue that the ECB needs "fiscal...
Persistent link: https://www.econbiz.de/10010208780
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How much fiscal backing must the ECB have? : the euro area is not the Philippines
Belke, Ansgar - 2010
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led some commentators to argue that the ECB needs "fiscal...
Persistent link: https://www.econbiz.de/10003958658
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How much fiscal backing must the ECB have? : The Euro Area is not the Philippines
Belke, Ansgar - 2010
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations (“repo”). This has led some commentators to argue that the ECB needs...
Persistent link: https://www.econbiz.de/10003961044
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Monetary dialogue 2009 - 2014 : looking backward, looking forward
Belke, Ansgar - 2014
regarding its focus range, to make it even more effective. In our view, the transparency/accountability issue represented by a … optimal degree of ECB transparency and accountability towards the EP, the key democratic institution. …
Persistent link: https://www.econbiz.de/10010350483
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Monetary dialogue 2009 - 2014 : looking backward, looking forward
Belke, Ansgar - 2014
regarding its focus range, to make it even more effective. In our view, the transparency/accountability issue represented by a … optimal degree of ECB transparency and accountability towards the EP, the key democratic institution. … gegenwärtig stark verändernden Geldpolitik. Die Diskussion wird geführt im Hinblick auf die Verwendung eines Zinsausblicks …
Persistent link: https://www.econbiz.de/10010259542
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The risk-taking channel of monetary policy transmission in the euro area
Neuenkirch, Matthias; Nöckel, Matthias - 2017
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area. Our dataset covers the period 2003Q1-2016Q2 and includes, in addition to the standard variables for real GDP growth, inflation, and the main refinancing rate, indicators of bank lending...
Persistent link: https://www.econbiz.de/10011621898
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The risk-taking channel of monetary policy transmission in the euro area
Neuenkirch, Matthias; Nöckel, Matthias - 2018
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area that works through the relaxation of lending standards for borrowers. Our dataset covers the period 2003Q1-2016Q2 and includes, in addition to the standard variables for real GDP growth,...
Persistent link: https://www.econbiz.de/10011822614
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The euro area crisis management framework : consequences and institutional follow-ups
Belke, Ansgar - 2010
The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Both are temporary in nature (3 years). In terms of an efficient future crisis management...
Persistent link: https://www.econbiz.de/10008933285
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Reinforcing EU governance in times of crisis : the commission proposals and beyond
Belke, Ansgar - 2010
The recent extensive package introduced by the Commission is the most comprehensive reinforcement of economic governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of fiscal policies, but also macroeconomic policies and...
Persistent link: https://www.econbiz.de/10008934948
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The euro area crisis management framework : consequences and institutional follow-ups
Belke, Ansgar - 2010
The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Both are temporary in nature (3 years). In terms of an efficient future crisis management...
Persistent link: https://www.econbiz.de/10009268966