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The Political and Technical Aspects of Controlling Inflation

Gros, Daniel - In: Intereconomics 58 (2023) 3, pp. 133-135

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...

Persistent link: https://www.econbiz.de/10014334696

Reversing the Great Monetary Expansion

Angeloni, Ignazio - In: Intereconomics 58 (2023) 3, pp. 142-147

Persistent link: https://www.econbiz.de/10014334698

External imbalances in the EU: A REER-based explanation

Kutasi, Gábor - In: Intereconomics 50 (2015) 5, pp. 301-308

The debt crisis of the eurozone revealed a structural problem of the single market rooted in the external imbalance … problem of indebted member states. The assumption of this paper is that the current account imbalances within the eurozone are … based on an intra-eurozone competitiveness disparity originated in the single currency and the heterogeneity of member state …

Persistent link: https://www.econbiz.de/10011773257

The Activation Conditions of the Transmission Protection Instrument: Flawed by Design?

Arnold, Ivo J. M. - In: Intereconomics 58 (2023) 5, pp. 254-259

In 2022, the European Central Bank (ECB) introduced the Transmission ProtectionInstrument (TPI) to counter the risk of financial fragmentation following the normalisation ofmonetary policy. The ECB has specified conditions under which the TPI can be activated.This paper examines these conditions...

Persistent link: https://www.econbiz.de/10014459470

Crisis-induced fiscal restructuring in Europe

Alcidi, Cinzia; Gros, Daniel; Giovannini, Alessandro; … - In: Intereconomics 49 (2014) 6, pp. 300-322

eurozone has grown quite polarised. In this Forum, several experts use analytical, evidence-based approaches to gauge the …

Persistent link: https://www.econbiz.de/10010471483

Monetary dialogue 2009-2014: Looking backward, looking forward

Belke, Ansgar - In: Intereconomics 49 (2014) 4, pp. 204-211

In response to the financial crisis, the ECB has had to adopt new instruments to support the euro area economy and preserve the integrity of the single currency. This has challenged the current framework of the Monetary Dialogue exercise. This paper briefly assesses the implications of enhanced...

Persistent link: https://www.econbiz.de/10011530750

Global Inflation and Global Monetary Policy Tightening: Implications for the Euro Area

Moessner, Richhild; Xia, Fan Dora; Zampolli, Fabrizio - In: Intereconomics 58 (2023) 3, pp. 151-154

Persistent link: https://www.econbiz.de/10014334700

Convergence in GDP per Capita in the Euro Area and the EU at the Time of COVID-19

Licchetta, Mirko; Mattozzi, Giovanni - In: Intereconomics 58 (2023) 1, pp. 43-51

This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...

Persistent link: https://www.econbiz.de/10014334683

Fiscal divergence, current account divergence and TARGET2 imbalances in the EMU

Abad, José; Löffler, Axel; Schnabl, Gunther; Zemanek, … - In: Intereconomics 48 (2013) 1, pp. 51-58

Diverging fiscal policy paths, housing booms and diverging unit labour costs were driving forces of rising intra-European current account imbalances, which were underpinned by low interest rates. Since the outbreak of the crisis, the adjustment of intra-EMU current account imbalances has been...

Persistent link: https://www.econbiz.de/10011307023

Financial repression and debt liquidation in the USA and the euro area

Hoffmann, Andreas; Zemanek, Holger - In: Intereconomics 47 (2012) 6, pp. 344-351

Rising debt levels have caused a revival of financial repression in the euro area and the USA. The Federal Reserve directly represses US bond yields and assists in financing the state budget, resulting in an overall liquidation effect from falling bond yields of about three per cent of total...

Persistent link: https://www.econbiz.de/10010471464