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Geldpolitik der EZB: Stabilität ohne "sichere" Staatsanleihen?

Tober, Silke - 2016

Die stark expansive Geldpolitik der Europäischen Zentralbank zeigt positive Wirkungen. Die Zinsen sind weiter gesunken … Weltwirtschaft verstärkt würden. Die Geldpolitik benötigt daher dringend Unterstützung durch die Fiskalpolitik.Der Euroraum hat zudem … ein zentrales Problem, das nicht nur die Effektivität der Geldpolitik beeinträchtigt, sondern auch die Fiskalpolitik …

Persistent link: https://www.econbiz.de/10011564987

Sectoral specialisation in the EU a macroeconomic perspective

van Riet, Ad; Ernst, Ekkehard; Madaschi, Christophe; … - 2004

This paper analyses trends in sectoral specialisation in the EU and concludes the following: 1) The European production structure appears more homogenous than that of the US. 2) While sectoral specialisation has shown a slight increase in some smaller euro area countries towards the end-1990s,...

Persistent link: https://www.econbiz.de/10011606171

Hedge funds and their implications for financial stability

Garbaravicius, Tomas; Dierick, Frank - 2005

The paper provides an overview of the hedge fund industry, mainly from a financial stability and European angle. It is primarily based on an extensive analysis of information from the TASS database. On the positive side of the financial stability assessment, hedge funds have a role as providers...

Persistent link: https://www.econbiz.de/10011606186

Inflation persistence and price-setting behaviour in the euro area – a summary of the IPN evidence

Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings are - i) Under the current monetary policy regime, the...

Persistent link: https://www.econbiz.de/10011606198

Macroeconomic and financial stability challenges for acceding and candidate countries

Winkler, Adalbert; Beck, Roland - 2006

This paper – based on a report by a Task Force established by the International Relations Committee (IRC) of the European System of Central Banks (ESCB) – reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and...

Persistent link: https://www.econbiz.de/10011606200

Credit risk mitigation in central bank operations and its effects on financial markets - the case of the Eurosystem

Bindseil, Ulrich; Papadia, Francesco - 2006

This paper reviews the role and effects of the collateral framework which central banks, and in particular the Eurosystem, use in conducting temporary monetary policy operations. First, the paper explains the design of such a framework from the perspective of risk mitigation, which is the...

Persistent link: https://www.econbiz.de/10011606201

Implications for liquidity from innovation and transparency in the European corporate bond market

Laganá, Marco; Perina, Martin; von Köppen-Mertes, Isabel - 2006

This paper offers a new framework for the assessment of financial market liquidity and identifies two types: search liquidity and systemic liquidity. Search liquidity, i.e. liquidity in “normal” times, is driven by search costs required for a trader to find a willing buyer for an asset...

Persistent link: https://www.econbiz.de/10011606202

Commodity price fluctuations and their impact on monetary and fiscal policies in Western and Central Africa

Böwer, Uwe; Geis, André; Winkler, Adalbert - 2007

Commodity prices play an important role in economic developments in most of the 24 Western and Central African (WCA) countries covered in this paper. It is confirmed that in the light of rising commodity prices between 1999 and 2005, net oil exporters recorded strong growth rates while net...

Persistent link: https://www.econbiz.de/10011606212

Structural reforms in EMU and the role of monetary policy – a survey of the literature

Leiner-Killinger, Nadine; López Pérez, Victor; … - 2007

The need for structural reforms in the euro area has often been advocated. These reforms would improve the welfare of euro area citizens and also, as a welcome side-effect, facilitate the conduct of monetary policy. Against this background, a particularly relevant question that can be posed is...

Persistent link: https://www.econbiz.de/10011606218

The working of the eurosystem - monetary policy preparations and decision-making – selected issues

Moutot, Philippe; Jung, Alexander; Mongelli, Francesco Paolo - 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/10011606231

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