In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed-in particular, the new financial regulations (which led to a deep decline in the money multiplier)....

In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed-in particular, the new financial regulations (which led to a deep decline in the money multiplier)....

In the short- to medium-run, non-standard monetary policy helps to stimulate the economy and stabilize financial markets. However, it is also widely acknowledged that side effects tend to materialize in the medium- to long-run. Thus, the time dimension is a crucial factor in assessing the...

The notes in this compilation provide an indication of the possible economic and financial impact of Brexit on the euro-area/EU economy. Notwithstanding the potential adverse effects, Brexit could also provide an opportunity for far-reaching reform to the euro area governance. The notes have...

The notes in this compilation provide an indication of the possible economic and financial impact of Brexit on the euro-area/EU economy. Notwithstanding the potential adverse effects, Brexit could also provide an opportunity for far-reaching reform to the euro area governance. The notes have...

Virtual currencies are a contemporary form of private money. Thanks to their technological properties, their global transaction networks are relatively safe, transparent, and fast. This gives them good prospects for further development. However, they remain unlikely to challenge the dominant...