Zahlungsbilanz und außenwirtschaftliches Gleichgewicht.– Wechselkurse und Weltwährungsordnung.– Die Liberalisierung der Währungs- und Finanzmärkte -- Europäische Währungszusammenarbeit -- Auslandsverschuldung und Internationale Investitionen.

Beleuchtet die gesamte währungspolitische Zusammenarbeit in Europa, Kriterien und Zeitplanung vor und nach Maastricht, klärt Begriffe und geht auf Vorteile, Nachteile, Einwände und Rückschläge ein. (Elke Günther)

In response to the recent financial crisis, European policymakers put banking regulation in the Eurozone on top of the agenda. In 2016, as part of the newly created European banking union, a mechanism for resolving troubled banks, the Single Resolution Mechanism (SRM), became fully operational...

The lack of a European Deposit Insurance Scheme (EDIS) - often referred to as the "third pillar" of Banking Union - has been criticized since the inception of the EU Banking Union. The Crisis Management and Deposit Insurance (CMDI) framework needs to rely heavily on banks' internal loss...

We assess the macroeconomic impact of pandemic-related monetary policy measures of the ECB. Conditioning on counterfactual interest rate paths that would have materialised in the absence of the policies, the macroeconomic effects are measured using structural vector autoregressions. In the...

This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook. Our NKPC specification, that relies on market- and survey-based inflation expectations, explains well euro area inflation dynamics. Its forecasting performance is also...