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Modelling euro banknote quality in circulation

Deinhammer, Harald; Ladi, Anna - 2017

The quality of banknotes in the cash cycles of countries in the Eurosystem varies, despite all of these countries using … identical euro banknotes. While it is known that this is dependent on national characteristics, such as public use and the … fitness levels. The model identifies: (i) the frequency with which banknotes are returned to the central bank; (ii) the …

Persistent link: https://www.econbiz.de/10011755507

Stress-testing of liquidity risk in TARGET2

Papsdorf, Patrick (contributor); Arciero, Luca (contributor) - Europäische Zentralbank / Group on TARGET2 Stress Testing - 2017

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study having been conducted by an ad-hoc group composed of operators and overseers of TARGET2. The study aims to assess the resilience of the system, defined as the network of its...

Persistent link: https://www.econbiz.de/10011627053

The conduct of monetary policy in the future : instrument use

Inaba, Kei-Ichiro; O'Farrell, Rory; Rawdanowicz, Łukasz; … - 2015

The set of monetary policy instruments has expanded since the start of the global financial crisis in the many OECD economies. Against this background, this paper analyses whether some of the new instruments should be retained in the long term when broader financial stability objectives are...

Persistent link: https://www.econbiz.de/10011392833

The workings of the Eurosystem : monetary policy preparations and decision-making : selected issues

Moutot, Philippe Pierre; Jung, Alexander; Mongelli, … - 2008

The ECB's monetary policy has received considerable attention in recent years. This is less the case, however, for its regular monetary policy preparation and decision-making process. This paper reviews how the factors usually considered as critical for the success of a central banking system...

Persistent link: https://www.econbiz.de/10011641185

Addressing the safety trilemma : a safe sovereign asset for the eurozone

Riet, Ad van - 2017

At the 25th anniversary of the Maastricht Treaty, this paper reviews the merits of introducing a safe sovereign asset for the eurozone. The triple euro area crisis showed the costly consequences of ignoring the "safety trilemma". Keeping a national safe sovereign asset (the German bund) as the...