The recent rise in euro area long-term interest rates could jeopardize the on-going recovery if interest rates went beyond what the fundamentals require. We investigate possible overshooting after identifying the main determinants of longterm interest rates in the euro area and in some of its...

The recent rise in euro area long-term interest rates could jeopardize the on-going recovery if interest rates went beyond what the fundamentals require. We investigate possible overshooting after identifying the main determinants of longterm interest rates in the euro area and in some of its...

The notes in this compilation prepared by key monetary experts explore the different ways in which globalisation could have an impact on inflation and monetary policy transmission channels. The growing integration of production processes, commodity price shifts and the reduced ability of wage...

The notes in this compilation assess the implications and risks stemming from persistent fragmentation of euro area financial markets for the transmission of monetary policy and discuss feasible policy options which may be effective in reducing this fragmentation. The papers prepared by the...

The notes in this compilation assess the implications and risks stemming from persistent fragmentation of euro area financial markets for the transmission of monetary policy and discuss feasible policy options which may be effective in reducing this fragmentation. The papers prepared by the...

As one of the most dynamic components of demand, the rebound of investment is key for a sustained euro-area the recovery. However, in spite of ECB's very accommodative monetary policy, attractive financing conditions and a still large investment gap compared to pre-crisis levels (albeit with...

As one of the most dynamic components of demand, the rebound of investment is key for a sustained euro-area the recovery. However, in spite of ECB's very accommodative monetary policy, attractive financing conditions and a still large investment gap compared to pre-crisis levels (albeit with...

The notes in this compilation prepared by key monetary experts review the asset purchase programmes (Quantitative Easing or QE) undertaken by major central banks of developed countries in recent years, discuss their macroeconomic and financial effects and elaborate on the policy messages...

The notes in this compilation prepared by key monetary experts explore the different ways in which globalisation could have an impact on inflation and monetary policy transmission channels. The growing integration of production processes, commodity price shifts and the reduced ability of wage...

The notes in this compilation prepared by key monetary experts review the asset purchase programmes (Quantitative Easing or QE) undertaken by major central banks of developed countries in recent years, discuss their macroeconomic and financial effects and elaborate on the policy messages...