This paper provides a comprehensive overview of the use of the Eurosystem's monetary policy instruments and the operational framework from the third quarter of 2012 until the first quarter of 2016. The paper reviews the context of Eurosystem market operations, counterparty and collateral...

Since 2008, excess liquidity - defined as the sum of holdings of central bank reserves in excess of reserve requirements and holdings of equivalent central bank deposits - has tended to accumulate in specific euro area countries and in a small, slowly changing group of credit institutions....

A US dollar funding premium in the EUR/USD cross currency swap market has been in existence since 2008. Whilst there are many reasons behind this dislocation, since 2014 the divergence in monetary policy between the euro area and the United States has played a growing role. This paper aims at...

Kiinan autotuotanto käynnistyi länsimaihin verrattuna hyvin myöhään, mutta nykyään Kiina on maailman suurin autojen tuottaja sekä markkina-alue. Autojen vienti länsimaihin on kuitenkin yhä vähäistä. Tässä selvityksessä tarkastellaan heikon vientimenestyksen syitä sekä...

China is by far the world's largest consumer of primary energy. Its vast energy demands are a leading issue for global energy use, driving pollution trends and prices on commodity markets. Despite huge increases in non-fossil capacity from nuclear and renewables, China still burns tremendous...