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Liquidity supply by a Lender of Last Resort (LOLR) can be pivotal for both the conduct of monetary policy and safeguard of financial stability. During the financial crisis, the importance of liquidity provision has significantly increased at both the macro-level – through the European Central...
Persistent link: https://www.econbiz.de/10012969002
stabilize inflation. In this context we ask the following questions: - How would the EC want to direct (or coordinate) the … national FA? - Do the EC decisions make control of inflation (the ECB mandate) easier or more difficult? - Do national FA have … inflation, then it may be necessary to endow the EC with appropriate enforcement devices with respect to the fiscal policy …
Persistent link: https://www.econbiz.de/10014123763
This paper focuses on the requirements and features of a successful monetary union on the basis of the optimum currency area theory, the “logical roadmap” for integration as proposed by Balassa as well as the economic and institutional framework of the European Economic and Monetary Union...
Persistent link: https://www.econbiz.de/10014080596
Eonia rates, market-based inflation expectations and sovereign bond rates. The remarks of ECB presidents are most important …
Persistent link: https://www.econbiz.de/10013306412
What is the effect of climate policies on inflation and economic activity? Answering this question is critical for …
Persistent link: https://www.econbiz.de/10012602683
In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...
Persistent link: https://www.econbiz.de/10003744530
expansionary policies, global inflation has been present since 2021. The change in the macroeconomic environment has led to a … that is why inflation was lower in the USA compared to the euro area. All announcements for 2023 point to the continuation …
Persistent link: https://www.econbiz.de/10014496247
könnten. Die Autoren des Zeitgesprächs sehen diese Gefahr nicht. Vielmehr könne ein gemäßigter Anstieg der Inflation sogar … raised the question whether such a role of the ECB must lead to higher rates of inflation. Under current recessive … macroeconomic conditions in the eurozone, the ECB’s expansionary monetary policy will not lead to higher inflation. On the contrary …
Persistent link: https://www.econbiz.de/10009621756
gefühlte Inflation im Euroraum bei 4,5 %, während die offiziell gemessene Inflationsrate 1 % betrug. Das könnte daran liegen … the officially measured inflation rates. For example, according to survey results, perceived inflation in the first … quarter of 2021 in the euro area was 4.5 %, while the officially measured inflation rate was 1 %. This could be due to the …
Persistent link: https://www.econbiz.de/10012660848
The quantity theory of money predicts a positive relationship between monetary growth and inflation over long …-run horizons. However, in the short-run, transitory shocks to either money or inflation can obscure the inflationary signal …. A 'money augmented' Phillips curve that links inflation to money tightness and demand shocks of medium to long …
Persistent link: https://www.econbiz.de/10013318632