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regulations, but also emphasising the importance of good governance and efficient institutions that ensure high quality and …
Persistent link: https://www.econbiz.de/10011972273
competitiveness, labour market and education and institutional governance. When comparing EU CC/PCC among themselves, large intra … the quality of their institutions and economic governance over the past decade, it is crucial that they preserve the …
Persistent link: https://www.econbiz.de/10011661910
In the context of securities clearing and settlement systems, the nature of governance arrangements acquires a … in the Community, the following conclusions can be drawn. Whatever the model of corporate governance used in a … governance standards or best practices adopted or recommended for companies in the jurisdiction in which it operates as such …
Persistent link: https://www.econbiz.de/10011606173
This paper reviews the governance framework of the Lisbon Strategy and discusses the specific option of increasing the …
Persistent link: https://www.econbiz.de/10012772992
The macroprudential stress test for 2021-23 aims to provide insights into the resilience of the European banking sector following the coronavirus (COVID- 19) crisis. The assessment builds on a macro-micro model with individual euro area economies and significant banks, and the two scenarios from...
Persistent link: https://www.econbiz.de/10014084225
Euro area countries exhibited modest convergence prior to the financial crisis and diverged thereafter. Such divergence has been examined from many angles, and various narratives of the crisis have developed. Surprisingly, the gradual transformation of the economic structures of euro area...
Persistent link: https://www.econbiz.de/10012999408
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/10012962520
After 2012, inflation has been unexpectedly low across much of the developed world and economists speak of a “missing inflation” puzzle, namely inflation was expected to be higher on the back of an ongoing recovery. This paper investigates the causes and consequences of low inflation in the...
Persistent link: https://www.econbiz.de/10012963903
The authors are grateful for helpful comments following presentations at the ESCB Monetary Policy Committee and its Working Group on Public Finance, and at the ECB. Special thanks are due to Iñigo Arruga Oleaga, Niccolò Battistini, Francesco Drudi, Pascal Jacquinot, Christophe Kamps,...
Persistent link: https://www.econbiz.de/10012963904
TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...
Persistent link: https://www.econbiz.de/10012947443