From 2013 up to the launch of the ECB’s strategy review in January 2020, inflation in the euro area was low and over …-term inflation expectations, in combination with monetary policy in the euro area being constrained by the effective lower bound … decades, but were in themselves not the main drivers of low inflation in the euro area from 2013 to 2019. However, as they …

Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and … sovereign debt crises exposed the limited resilience of the euro area's economic structures. Economic growth was masking … underlying weaknesses in several euro area countries. With the inception of the crises, significant efforts have been undertaken …

Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and … sovereign debt crises exposed the limited resilience of the euro area’s economic structures. Economic growth was masking … underlying weaknesses in several euro area countries. With the inception of the crises, significant efforts have been undertaken …

-term inflation expectations in the euro area have become less well anchored. Regarding the role measures of inflation expectations …

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 the 2021 EU- wise stress test exercise. In the baseline scenario, the …

contribution to safeguarding financial stability and its financial sector-related work in the context of EU/IMF Financial …

This paper presents an approach to a macroprudential stress test for the euro area banking system, comprising the 91 … largest euro area credit institutions across 19 countries. The approach involves modelling banks’ reactions to changing …

share of non-performing loans (NPLs) on the balance sheets of euro area banks. The first is the coverage expectations for … assessment of the package is analysed via a semi-structural model, the Banking Euro Area Stress Test (BEAST). The coverage …