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Dancing Together at Arm’s Length? The Interaction of Central Banks with Governments in the G7

Bodea, Cristina; Huemer, Stefan - 2021

government and cooperate with them on a number of issues. This paper looks into the various forms of cooperation between central … paper first reviews the objectives of and arrangements for central bank/government cooperation in the US, UK, Japan and … reserve management; international cooperation; payment systems/securities clearing and settlement systems; supervision …

Persistent link: https://www.econbiz.de/10013316190

Dancing together at arm’s length? – The interaction of central banks with governments in the G7

Bodea, Cristina; Huemer, Stefan - 2010

Persistent link: https://www.econbiz.de/10011606272

The EU's Open Strategic Autonomy from a Central Banking Perspective. Challenges to the Monetary Policy Landscape from a Changing Geopolitical Environment

Ioannou, Demosthenes; Pérez, Javier J.; Geeroms, Hans; … - 2023

are the latest in a series of episodes that have led the European Union (EU) to develop its Open Strategic Autonomy (OSA … the EU's economic interdependencies and their implications for trade and finance, with a focus on strategically important … this background, the Report discusses relevant aspects of the EU's OSA policy agenda which extend to trade, industrial and …

Persistent link: https://www.econbiz.de/10014351471

Enhancing Climate Resilience of Monetary Policy Implementation in the Euro Area

Aubrechtova, Jana; Heinle, Elke; Porcel, Rafel Moyà; … - 2023

Central banks around the world are increasingly monitoring climate change risks and how these affect their balance sheets and their monetary policy transmission. The European Central Bank (ECB) extensively reviewed its monetary policy implementation framework in 2020-21 to better account also...

Persistent link: https://www.econbiz.de/10014353833

The Role of Financial Stability Considerations in Monetary Policy and the Interaction with Macroprudential Policy in the Euro Area

Albertazzi, Ugo; Martin, Alberto; Assouan, Emmanuelle; … - 2023

Since the European Central Bank’s (ECB’s) 2003 strategy review, the importance of macro-financial amplification channels for monetary policy has increasingly gained recognition. This paper takes stock of this evolution and discusses the desirability of further incremental enhancements in the...

Persistent link: https://www.econbiz.de/10014354649

Protectionist Responses to the Crisis - Global Trends and Implications

Bussière, Matthieu - 2014

In this paper we take a systematic look at recent trends in global protectionism and at the potential implications of a protectionist backlash for economic growth, using results from the recent economic literature and new model simulations. We find that there has so far been a moderate increase...

Persistent link: https://www.econbiz.de/10012751064

The ECB After the Crisis : Existing Synergies Among Monetary Policy, Macroprudential Policies and Banking Supervision

Cassola, Nuno - 2019

The prolonged crisis exposed the vulnerability of a monetary union without a banking union. The Single Supervisory Mechanism (SSM), which started operating in November 2014, is an essential step towards restoring banks to health and rebuilding trust in the banking system. The ECB is today...

Persistent link: https://www.econbiz.de/10012858961

Revisiting the Monetary Presentation of the Euro Area Balance of Payments

Picón Aguilar, Carmen - 2020

We explain how the external counterpart of the euro area M3 can be analysed by using the euro area balance of payments (b.o.p.). This is possible because the net external assets of the monetary financial institutions (MFIs) are present in two statistical frameworks that follow similar...

Persistent link: https://www.econbiz.de/10012841808

Stablecoins : Implications for Monetary Policy, Financial Stability, Market Infrastructure and Payments, and Banking Supervision in the Euro Area

Echelpoel, Fiona - 2020

This paper summarises the outcome of an analysis of stablecoins undertaken by the ECB Crypto-Assets Task Force. At the time of writing, the stablecoin debate lacks a common taxonomy and unambiguous terminology. This paper applies a definition that distinguishes stablecoins from existing forms of...

Persistent link: https://www.econbiz.de/10012822669

The Use of the Eurosystem's Monetary Policy Instruments and its Monetary Policy Implementation Framework between the First Quarter of 2018 and the Fourth Quarter of 2019

Sylvestre, Julie - 2020

This paper provides a comprehensive overview of the use of the Eurosystem's monetary policy instruments and the operational framework, from the first quarter of 2018 to the last quarter of 2019. It reviews the context of Eurosystem market operations; the design and operation of the Eurosystem's...

Persistent link: https://www.econbiz.de/10012829646