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Monetary Policy in the Euro Area : The Impact of Inflation Expectations
Koch, Dr. Benjamin - 2023
Following a period of subdued consumer price changes, inflation has recently surged to levels that are significantly impacting the behavior of households and firms. Although the underlying sources of inflation differ across major advanced economies, central banks have progressively tightened...
Persistent link: https://www.econbiz.de/10014351176
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U.S. Monetary Policy Shock Spillovers : Evidence from Firm-Level Data
Arbatli, Elif C.; Firat, Melih; Furceri, Davide; … - 2022
We examine three main channels through which U.S. monetary policy shocks affect firm investment in foreign countries: (1) the balance sheet channel; (2) the financial channel of the exchange rate; and (3) the trade channel. For this purpose, we use quarterly firm-level data for 63 advanced...
Persistent link: https://www.econbiz.de/10014239400
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The EU's Open Strategic Autonomy from a central banking perspective : challenges to the monetary policy landscape from a changing geopolitical environment
2023
are the latest in a series of episodes that have led the European Union (EU) to develop its Open Strategic Autonomy (OSA … the EU's economic interdependencies and their implications for trade and finance, with a focus on strategically important … this background, the Report discusses relevant aspects of the EU's OSA policy agenda which extend to trade, industrial and …
Persistent link: https://www.econbiz.de/10014248552
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EU Enlargement and Monetary Regimes from the Insurance Model Perspectives
Nenovsky, Nikolay - 2010
role of monetary regimes (currency anchor) and EU enlargement (political and geostrategic anchor) and their relationships … EU-wide …
Persistent link: https://www.econbiz.de/10013139781
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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The Austrian Economy in the European Union : A First Assessment
Handler, Heinz - 2011
After joining the EU in 1995, uncertainties over the future legal and administrative system remained latent. But there … feasible policy responses also in adverse circumstances. Austria was striving to become an active Member of the EU, mirrored in … the early preparation of the Austrian presidency of the EU in the second half of 1998. In accordance with the policy …
Persistent link: https://www.econbiz.de/10013123478
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Following the Imprint of the ECB's Asset Purchase Programme on Global Bond and Deposit Flows
Avdjiev, Stefan - 2019
We trace the imprint of the ECB's expanded asset purchase programme (APP) on international bond portfolios and euro-denominated deposits. Our analysis suggests that non-bank financial institutions (NBFIs) located outside the euro area sold large volumes of euro area government bonds and kept a...
Persistent link: https://www.econbiz.de/10012891111
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The Monetary Presentation of the Euro Area Balance of Payments
Bê Duc, Louis - 2008
This occasional paper describes the monetary presentation of the euro area balance of payments and its use. The monetary presentation is a tool for assessing the impact of balance of payments transactions involving non-bank residents on monetary developments. The paper explains in detail the...
Persistent link: https://www.econbiz.de/10012771662
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Revisiting the Case for Debt Mutualization in the Euro Area : A Quantitative Exploration
Ando, Sakai; Dell'Ariccia, Giovanni; Gourinchas, … - 2023
This paper explores the feasibility of an idea proposed first by the German Council of Economic Experts in 2011 and revisited by Italian and French authorities in 2021: the one-off mutualization of some European legacy debt through the creation of a European Debt Management Agency (EDMA). The...
Persistent link: https://www.econbiz.de/10014358464
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Shared Problem, Shared Solution : Benefits from Fiscal-Monetary Interactions in the Euro Area
Beyer, Robert; Duttagupta, Rupa; Fotiou, Alexandra; … - 2023
This paper employs two established macroeconomic models to show that fiscal policy in the euro area can help monetary policy in reducing inflation. Specifically, a fiscal consolidation of 1 percent of GDP for two years and 0.5 percent in the third year across the euro area would ease the policy...
Persistent link: https://www.econbiz.de/10014352982