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Foreign demand for euro banknotes
Lalouette, Laure; Zamora-Pérez, Alejandro; Rusu, Codruta; … - 2021
transactions is decreasing in the euro area - a phenomenon known as the paradox of banknotes - the members of the Overseas … workstream of the Eurosystem Research Network on Cash (EURECA) have conducted a study on the foreign demand for euro banknotes …
Persistent link: https://www.econbiz.de/10012521157
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Economic and monetary integration of the new Member States - helping to chart the route
Angeloni, Ignazio; Flad, Michael; Mongelli, Francesco Paolo - 2005
This paper examines diverse aspects of the monetary integration of the ten new Member States (NMS) which joined the EU on 1 May 2004 into the euro area. Most NMS have undergone a rapid and deep transformation in all areas with considerable progress in their processes of reform and convergence,...
Persistent link: https://www.econbiz.de/10011606188
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What does European institutional integration tell us about trade integration?
Mongelli, Francesco Paolo; Dorrucci, Ettore; Agur, Itai - 2005
The start of the European Economic and Monetary Union (EMU) has spurred a new interest in the debate on the effects of monetary unions on regional economic integration. This literature either investigates past episodes of monetary unions or attempts to gauge any effect with a few years of EMU...
Persistent link: https://www.econbiz.de/10011606192
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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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Euro area labour markets and the crisis
2012
Between the start of the economic and financial crisis in 2008, and early 2010, almost four million jobs were lost in the euro area. Employment began to rise again in the first half of 2011, but declined once more at the end of that year and remains at around three million workers below the...
Persistent link: https://www.econbiz.de/10011606290
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Increasing the international role of the euro: A long way to go
Dabrowski, Marek - 2020
The euro is the second most important global currency after the US dollar. However, its international role has not increased since its inception in 1999. The private sector prefers using the US dollar rather than the euro because the financial market for US dollar-denominated assets is larger...
Persistent link: https://www.econbiz.de/10013270943
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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/10011804707
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Stress-Testing of liquidity risk in TARGET2
Papsdorf, Patrick; Arciero, Luca; Frutos de Andres, … - 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/10011661909
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TARGET2 analytical tools for regulatory compliance
Glowka, Marc; Müller, Alexander; Friz, Livia Polo; … - 2022
As the operator of a systemically important payment system (SIPS), the Eurosystem has the responsibility of regularly assessing the resilience of the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2) to various types of risks, as set out in the Principles for...
Persistent link: https://www.econbiz.de/10013480189
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Fiscal and monetary policy determinants of the Eurozone crisis and its resolution
Dabrowski, Marek - 2012
Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....
Persistent link: https://www.econbiz.de/10011430901