Showing 1 - 10 of 251
Persistent link: https://www.econbiz.de/10003974148
We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and roll back credit easing in order to prevent inflation. The exits should be step-by-step rather than one-off. Communicating about the exit strategy must be an integral part of the exit strategy. Price...
Persistent link: https://www.econbiz.de/10003958646
We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and roll back credit easing in order to prevent inflation. The exits should be step-by-step rather than one-off . Communicating about the exit strategy must be an integral part of the exit strategy....
Persistent link: https://www.econbiz.de/10003961040
After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to purchase European government bonds - to ensure an "orderly monetary policy transmission mechanism". Many observers argued that, by bond purchases, national fiscal policies could...
Persistent link: https://www.econbiz.de/10009261344
Persistent link: https://www.econbiz.de/10010532731
On 10 January 2013 the ECB Governing Council decided “to keep the key ECB interest rates unchanged” based on an assessment of a ‚contained‘ inflationary pressure and a weak economic activity, a contraction of real GDP in second and third quarter of 2012. Similar decisions have been taken...
Persistent link: https://www.econbiz.de/10010533181
This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area in terms of reduced financing costs and bridge-financing. It is mindful of the legal issues that this will raise and that such a suggestion will be highly controversial....
Persistent link: https://www.econbiz.de/10009771146
Persistent link: https://www.econbiz.de/10009659522
At the height of the European sovereign debt crisis, the European Central Bank decided to purchase distressed European government bonds. Even worse, and more importantly, the ECB is providing direct support of several hundred billions of euros to troubled banks via its normal monetary policy...
Persistent link: https://www.econbiz.de/10009663808
Persistent link: https://www.econbiz.de/10009412966