Showing 1 - 10 of 413
The room for maneuver of monetary policy and the relevance of the zero lower bound of nominal interest rates are largely determined by the level of and the outlook for the natural rate of interest (R*), i.e. the unobservable equilibrium interest rate that neither stimulates nor contracts the...
Persistent link: https://www.econbiz.de/10015166264
The low nominal interest rate environment is a hotly debated phenomenon among politicians, financial market participants and households. Savers fear the erosion of their retirement savings, while financial supervisors warn of the stability risks caused by declining bank profitability and by the...
Persistent link: https://www.econbiz.de/10011949133
This paper summarises the work done by Eurosystem staff in the context of the Strategy Review Seminar on Monetary Policy Instruments. More specifically, it focuses on the efficacy, efficiency and potential side effects of the key monetary policy instruments employed by the European Central Bank...
Persistent link: https://www.econbiz.de/10012661660
The paper explains a curious redirection of economic policies that uses the policy framework of Kalecki and Keynes only to undermine it. It does not negate their theory of demand management, but reformulates it to serve the powerful interests of finance in the era of financial globalisation. As...
Persistent link: https://www.econbiz.de/10012100219
investments throughout Eurasia and Africa, was first presented by China's President Xi Jinping in 2013. China has identified the … Brief analyses the most recent developments in trade and investment activities of China, Austria and the EU in CESEE, which … and China. The Policy Note is based on a study conducted for the Embassy of the People's Republic of China in Austria. …
Persistent link: https://www.econbiz.de/10012100230
Finding common ground across EU member states in responding to China's increasingly prominent position in the global … partners amid heightened US-China tensions, selected countries within the CESEE region have been deepening their investment … relations with China. Given these countries' significant capital needs for economic development, and in view of the EU …
Persistent link: https://www.econbiz.de/10013178175
imported goods, particularly from China. Despite changes in European attitudes towards China during the COVID19 crisis, the … before the crisis and that were amplified by the clashes between the US and China. The European Commission recommends … established Regional Comprehensive Economic Partnership (RCEP) agreement. In view of China's shift in main principles of action …
Persistent link: https://www.econbiz.de/10012605235
This paper deals with two related issues: the sustainability of China’s exchange rate regime and the opening up of its … to avoid disruptive capital flows. The paper discusses China’s twin surpluses of the current and capital accounts and … the outlook for Chinese capital flows should barriers to capital movements be lifted. It argues that whether China …
Persistent link: https://www.econbiz.de/10011606234
This note examines the grants and loans provided by the European Union (EU) and China to the Western Balkan economies ….8% of the region's GDP, far above the 0.02% of GDP from Chinese grants. In terms of loans, however, China has nearly caught … China has provided loans in the amount of 1.2%. Notably, in Serbia, China's loan portfolio now exceeds the size of the EU …
Persistent link: https://www.econbiz.de/10015407534
This paper analyses the integration of China and India into the global economy. To this end, it presents estimates from … China’s trade intensity is higher than fundamentals would suggest, whereas the converse is true for India. Second, Chinese …, China’s exports of services tend to complement its exports of goods, while India’s exports are growing only in deregulated …
Persistent link: https://www.econbiz.de/10011606232