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TARGET2 imbalances and the ECB as lender of last resort
Purificato, Francesco; Astarita, Caterina - In: International Journal of Financial Studies 3 (2015) 4, pp. 482-509
some countries registered a decisive inflow of the central bank liquidity and others showed an outflow. The dynamics in the … Union to survive, rather than to disparities in the level of competitiveness among countries of the Eurozone. This crisis of …
Persistent link: https://www.econbiz.de/10011708994
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The European Central Bank and why things are the way they are: A historic monetary policy pivot point and moment of (relative) clarity
Dubois, Robert - 2012
, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else … struggling to escape liquidity quicksands and stubbornly low or negative growth and employment trends. At the center of the … divergence and political and social discord across member-states. Given the scale and scope of the eurozone crisis, policy and …
Persistent link: https://www.econbiz.de/10010286538
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Euro area: Single currency - national money creation
Kooths, Stefan; van Roye, Björn - 2012
maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in …
Persistent link: https://www.econbiz.de/10010288223
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European Monetary and Financial Integration: Evolution and Prospects
Abraham, Jean-Paul; Lamfalussy, Alexandre; Trichet, … - 2004
On October 24, 2003, SUERF celebrated its 40th anniversary in the Galerie Dorée of the Banque de France with an especially high level and rich seminar. The memorable occasion was further elevated by Jean Claude Trichet giving the tenth SUERF Annual Lecture in his last public speech as Governor...
Persistent link: https://www.econbiz.de/10011689913
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Monetary and Financial Thinking in Europe: Evidence from Four Decades of SUERF
Abraham, Jean-Paul - 2003
2003 marks the 40th anniversary of the founding of SUERF. To mark this milestone, some time ago the Council of Management commissioned Professor Jean-Paul Abraham to write a commemorative report. His mandate was not to write a history of SUERF itself (that would be too self-indulgent) but to...
Persistent link: https://www.econbiz.de/10011689909
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Monetary and macroprudential policy games in a monetary union
Dennis, Richard; Ilbas, Pelin - 2016
We use the two-country model of the euro area developed by Quint and Rabanal (2014) to study policymaking in the European Monetary Union (EMU). In particular, we focus on strategic interactions: 1) between monetary policy and a common macroprudential authority, and; 2) between an EMU-level...
Persistent link: https://www.econbiz.de/10011786059
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Nicht zu früh bremsen!: Der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA
Schettkat, Ronald; Sun, Rongrong - 2009
Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche -wenn … Europa war. Die Bundesbank -Europas 'Zentralbank' vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne …
Persistent link: https://www.econbiz.de/10010291094
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Estimation of monetary policy preferences in a forward-looking model: a Bayesian approach
Ilbas, Pelin - 2008
In this paper we adopt a Bayesian approach towards the estimation of the monetary policy preference parameters in a general equilibrium framework. We start from the model presented by Smets and Wouters (2003) for the euro area where, in the original set up, monetary policy behaviour is described...
Persistent link: https://www.econbiz.de/10011506650
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The eurozone in the current crisis
Wyplosz, Charles - 2010
European Central Bank (ECB) intervened promptly and massively to attempt to maintain liquidity in the money market, it has been …
Persistent link: https://www.econbiz.de/10010286102
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Monetary policy and European unemployment
Schettkat, Ronald; Sun, Rongrong - 2008
In the long history of rising and persistent unemployment in Europe almost all institutions - employment protection legislation, unions, wages, wage structure, unemployment insurance, etc. - have been alleged and found guilty to have caused this tragic development at some point in time. Later,...
Persistent link: https://www.econbiz.de/10010291100