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measures. We argue that these unconventional monetary policy measures created soft budget constraints for the Eurozone …
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The book is about money, central banking and constitutions. It explains how the European Central Bank was established to ensure stability and prosperity for the euro area. The ECB was guided and controlled by a coherent European Macroeconomic Constitution. However, this model has failed during...
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conventional and non-standard expansionary monetary policy interventions in order to stabilize eurozone economies. We conducted a … with two main macroeconomic variables and a sentiment indicator, on market equity returns of eurozone countries for the … influenced market indices while non-conventional actions mainly affected core eurozone countries that were less affected by the …
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This paper seeks to inform about a feature of monetary policy that is largely overlooked, yet occupies a central role in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood by the observation that the money at the core of these...
Persistent link: https://www.econbiz.de/10011296085
There is much discussion today about a possible digital euro (PDE). Is this attention exaggerated? Are "central bank digital currencies" (CBDCs) "a solution in search of a problem", as some have argued? This article summarizes the main facts about the PDE and concludes that, if the decision on...
Persistent link: https://www.econbiz.de/10014279231