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The Impact of Commercial Real Estate on the Financial Sector, Its Tracking by Central Banks and Some Recommendations for the Macro-Financial Stability Policy of Central Banks
Olszewski, Krzysztof - 2012
This article reviews the impact of commercial real estate (CRE hereafter) on macro-financial stability and gives some ideas, how central banks could deal with the risk. First, we present the main features of the CRE market, explain its cycle and outline risks related to this market. Its relation...
Persistent link: https://www.econbiz.de/10013096326
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Debt, money, and Mephistopheles : how do we get out of this mess?
Turner, Adair - 2013
Persistent link: https://www.econbiz.de/10009769887
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Twenty years of the German euro are more than enough
Bibow, Jörg - 2018
This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
Persistent link: https://www.econbiz.de/10011894027
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Twenty Years of the German Euro are More than Enough
Bibow, Jörg - 2018
This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
Persistent link: https://www.econbiz.de/10012912309
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Auf der Suche nach der "optimalen" Finanzmarktaufsicht
Hartung, Thomas (contributor);  … - 2008
Quo der Finanzmarktaufsicht in Deutschland/Europa wird in seiner Funktionsweise geschildert, Schwächen und Stärken werden … Finanzmarktaufsicht. Diese werden herangezogen, um drei unterschiedliche Szenarien zu bewerten und zu vergleichen: Den Status Quo, eine … von den nationalen Notenbanken und der EZB dominierte Finanzmarktaufsicht sowie ein drittes, synthetisches Szenario für …
Persistent link: https://www.econbiz.de/10003635538
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The Brexit Reform of European Financial Supervision : Lost in Transition?
de Arriba-Sellier, Nathan - 2019
This article reviews the impact of Brexit on the European System of Financial Supervision (ESFS) and claims that the withdrawal of the United Kingdom will lead to more centralisation of supervision at EU level and a tightening of the supervision over third countries' markets actors. This...
Persistent link: https://www.econbiz.de/10012860683
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Do central banks have precautionary demands for expansions and for price stability? : theory and evidence
Cukierman, Alex; Muscatelli, V. Anton - 2002
This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on interest-rate reaction functions and test for their existence. A modified New Keynesian framework which makes it possible to identify the dominant type of asymmetry is developed and...
Persistent link: https://www.econbiz.de/10011410664
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Do Central Banks Have Precautionary Demands for Expansions and for Price Stability? - Theory and Evidence
Cukierman, Alex; Muscatelli, Anton - 2021
This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on interest-rate reaction functions and test for their existence. A modified New Keynesian framework which makes it possible to identify the dominant type of asymmetry is developed and...
Persistent link: https://www.econbiz.de/10013320379
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Macroprudential risk management problems in Brexit
Welfens, Paul J. J. - In: Intereconomics : review of European economic policy 53 (2018) 5, pp. 281-286
Brexit is not only a historical chapter of the British — EU relationship, but it also carries immense challenges for fi nancial market stability in the short and medium run for the 28 member states of the European Union. The scale of these challenges depends heavily on the outcome of EU-UK...
Persistent link: https://www.econbiz.de/10011929879