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The Collateral Policy of Central Banks - An Analysis Focusing on the Eurosystem

Weber, Christopher - 2016

This dissertation was written by Christopher Weber during his time as a research assistant at the Center for Economic Studies (CES) at the Ludwig-Maximilians-Universität (LMU) Munich. It was handed in at the department of Economics at the LMU Munich in July 2016. The goal of the thesis is to...

Persistent link: https://www.econbiz.de/10011698362

Transnational governance in global finance - the principles for stable capital flows and fair debt restructuring in emerging markets

Ritter, Raymond - 2009

This paper analyses and assesses the track record and effectiveness of the so-called “Principles for Stable Capital Flows and Fair Debt Restructuring in Emerging Markets”,which have emerged as an important instrument for crisis prevention and crisis resolution in the international financial...

Persistent link: https://www.econbiz.de/10011606255

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

Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik

Heimberger, Philipp - 2016

Diese Studie befasst sich mit dem Auseinanderlaufen der gesamtwirtschaftlichen Entwicklung nach der globalen Finanzkrise im Vergleich von Eurozone, USA und Großbritannien. Die Eurozone erholte sich seit 2010 deutlich schleppender als die US-amerikanische und die britische Wirtschaft. Die Rolle...

Persistent link: https://www.econbiz.de/10012100198

The Collateral Framework of the Eurosystem and Its Fiscal Implications

Eberl, Jakob Korbinian - 2016

This thesis was written by Jakob Eberl while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2015 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in May 2016. The...

Persistent link: https://www.econbiz.de/10011698359

The economic and monetary union: Past, present and future

Dabrowski, Marek - 2019

Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a...

Persistent link: https://www.econbiz.de/10012387274

Thinking beyond the pandemic: Monetary policy challenges in the medium- to long-term

Dabrowski, Marek - 2021

The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into...

Persistent link: https://www.econbiz.de/10013270945

Monetary-fiscal policy interactions in the euro area

2021

The last review of the ECB's monetary policy strategy in 2003 followed a period of predominantly upside risks to price stability. Experience following the 2008 financial crisis has focused renewed attention on the question of how monetary and fiscal policy should best interact, in particular in...

Persistent link: https://www.econbiz.de/10012661655

Demand for central bank reserves and monetary policy implementation frameworks: The case of the Eurosystem

Åberg, Pontus; Corsi, Marco; Grossmann-Wirth, Vincent; … - 2021

configurations, namely: (i) an interest rate corridor system with scarce liquidity, and (ii) a floor system with ample liquidity. It …. Additionally, the demand for reserves may have increased endogenously, as the environment of ample liquidity conditions has … reasons such as post-global financial crisis liquidity regulation and increased liquidity concentration. Our estimates …

Persistent link: https://www.econbiz.de/10012661664

Identifying early warning indicators for real estate-related banking crises

Ferrari, Stijn; Pirovano, Mara; Cornacchia, Wanda - 2015

This Occasional Paper presents a formal statistical evaluation of potential early warning indicators for real estate-related banking crises. Relying on data on real estate-related banking crises for 25 EU countries, a signalling approach is applied in both a non-parametric and a parametric...

Persistent link: https://www.econbiz.de/10011984879

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