This paper documents five stylised facts relating to price adjustment in the euro area, using various micro price datasets collected in a period with relatively low and stable inflation. First, price changes are infrequent in the core sectors. On average, 12% of consumer prices change each...

Die aktuell verbreitet niedrigen Zinsen mindern die Belastung durch die öffentliche Kreditaufnahme. Doch wird sich die Schuldenstandsquote EU-weit in Richtung auf das Maastricht-Kriterium von 60% des Bruttoinlandsprodukts zubewegen? Der Autor zeigt anhand modellhafter Betrachtungen, dass der...

The paper attempts to shed light on the link between monetary policy in large economies with international currencies (the United States and the euro area) and the use of reserve requirements in emerging markets. Using reserve requirement data for 28 emerging markets from 1998 to 2012 we provide...