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In Lisbon the European Council proclaimed a European growth strategy. It considers an average economic u0093growth rate of around 3 percent as a realistic prospect for the coming yearsu0094 and assigns public finances an important role in the process of achieving this goal. This paper addresses...
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The European Securities and Markets Authority (ESMA) is required by Article 39a of Regulation (EU) No 462/2013 of the … European Parliament and the Council of 21 May 2013, amending Regulation (EC) No 1060/2009 on credit rating agencies (CRA … Regulation), to assess the staffing and resources needs arising from the assumption of its powers and duties under the CRA …
Persistent link: https://www.econbiz.de/10010392288
Article 495(3) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR) allows competent authorities …
Persistent link: https://www.econbiz.de/10010392291
A two-country sticky-price model is used to analyse the interactions between fiscal and monetary policy. The role of an u0091activistu0092 fiscal policy as a stabilisation tool is considered and a measure of the welfare gains from international fiscal policy cooperation is derived. It is found...
Persistent link: https://www.econbiz.de/10009635884
The presence of a lower bound of zero on nominal interest rates has important implications for the conduct of optimal monetary policy. Standard rational expectations models can have alternative steady states as well as non-unique laws of motion, i.e. there can be possible sunspot equilibria....
Persistent link: https://www.econbiz.de/10009635903
We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...
Persistent link: https://www.econbiz.de/10009636548
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On 12 June and 9 September 2008 the EESC Labour Market Observatory organised two hearings on "Sustainable Productivity Growth and Quality of Working Life".
Persistent link: https://www.econbiz.de/10010260408