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The European Public Debt Refinancing Program - Why the ECB Quantitative Easing Should Envisage Euro-Zone Government Bonds
Minenna, Marcello - 2014
The credit risk exposure of the German banking system is growing again after the 2009 peak and its subsequent reduction. This column comments it through the lens of the Target2 net balances in connection with the capital flows experienced by the Eurozone (EZ) balance of payments. Several aspects...
Persistent link: https://www.econbiz.de/10013047170
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Policy Rules for Capital Controls
Pasricha, Gurnain Kaur - 2017
This paper attempts to borrow the tradition of estimating policy reaction functions in monetary policy literature and apply it to capital controls policy literature. Using a novel weekly dataset on capital controls policy actions in 21 emerging economies over the period 1 January 2001 to 31...
Persistent link: https://www.econbiz.de/10012943804
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Estimated Policy Rules for Capital Controls
Pasricha, Gurnain - 2020
This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this question using a novel, weekly dataset on capital control actions in 21 emerging...
Persistent link: https://www.econbiz.de/10012829284
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Policy Rules for Capital Controls
Pasricha, Gurnain Kaur - 2017
This paper attempts to bring the tradition of estimating policy reaction functions from monetary policy literature to capital controls policy literature. Using a novel, weekly dataset on capital controls policy actions in 21 emerging economies over the period 1 January 2001 – 31 December 2015,...
Persistent link: https://www.econbiz.de/10012947417
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The Case for a Wholesale Central Bank Digital Currency Architecture
Hamdy, Mohammad - 2023
Among the countries currently considering issuing a central bank digital currency (CBDC), including nearly all of G20, there is a strong preference for a retail CBDC made available to the general public through private intermediaries. This Policy Brief sheds light on the technical complexities...
Persistent link: https://www.econbiz.de/10014348596
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Europe, where to?
Ioan-Franc, Valeriu; Pop, Napoleon; Diamescu, Andrei Marius - In: Amfiteatru economic : an economic and business research … 25 (2023) 63, pp. 610-624
The authors review the challenges that the Romanian economy and society had to face in the European and global geoeconomic context. Starting from the perspectives advanced by the international economic fora, the risks the European economy will have to answer through counteracting and general...
Persistent link: https://www.econbiz.de/10014464256
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Self-Oriented Monetary Policy, Global Financial Markets and Excess Volatility of International Capital Flows
Banerjee, Ryan - 2016
This paper explores the nature of macroeconomic spillovers from advanced economies to emerging market economies (EMEs) and the consequences for independent use of monetary policy in EMEs. We first empirically document the effects of US monetary policy shocks on a sample group of EMEs. A...
Persistent link: https://www.econbiz.de/10013000728
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Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico's Sovereign Bond Yields
Góes, Carlos - 2017
This paper examines the transmission of changes in the U.S. monetary policy to local-currency sovereign bond yields of Brazil and Mexico. Using vector error-correction models, we find that the U.S. 10-year bond yield was a key driver of long-term yields in these countries, and that Brazilian...
Persistent link: https://www.econbiz.de/10012957840
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Regional and Global Liquidity Arrangements
Volz, Ulrich - 2012
the recent global financial crisis. This has important consequences for the role of the International Monetary Fund (IMF … reform proposals for IMF lending facilities; experiences with, and reform proposals for RFAs; the relationship between the … IMF and RFAs, including overlaps or complementarities that exist or may emerge among them; comparative advantages and …
Persistent link: https://www.econbiz.de/10013101487