While the Eurosystem has considerably improved its operational transparency in the last few years, it is still lagging the Federal Reserve System (Fed), especially in terms of the information it provides on operating costs and staff numbers, for which it provides very scarce data. In addition,...

This study provided by Policy Department A at the request of the European Parliament's Committee on Industry, Research and Energy (ITRE) shows that the energy-system related impact of Brexit on EU citizens and companies will be limited. The EU will be able to complete its market, achieve its...

This study provided by Policy Department A at the request of the European Parliament's Committee on Industry, Research and Energy (ITRE) shows that the energy-system related impact of Brexit on EU citizens and companies will be limited. The EU will be able to complete its market, achieve its...

This paper analyses the interactions between, on one hand, monetary policy and financial stability responsibilities of the ECB and, on the other hand, Post-Trading-Financial Market Infrastructures. Its basic conclusion is that Payment Systems are critical for monetary policy while Central...

This paper analyses the interactions between, on one hand, monetary policy and financial stability responsibilities of the ECB and, on the other hand, Post-Trading-Financial Market Infrastructures. Its basic conclusion is that Payment Systems are critical for monetary policy while Central...

On aggregate, the energy system related impact of Brexit on EU citizens and companies will be limited. With or without the UK, the EU will be able to pursue its energy and climate policy goals relatively unaltered. - An immense number of very important details will need to be resolved in a short...

On aggregate, the energy system related impact of Brexit on EU citizens and companies will be limited. With or without the UK, the EU will be able to pursue its energy and climate policy goals relatively unaltered. - An immense number of very important details will need to be resolved in a short...

During the Great Recession, central banks went well beyond their normal operations and provided liquidity in unlimited amounts, in foreign currency and to foreign banks. Central bank cooperation took the form of a swap network, and amounted to an episode of global monetary policy. However,...

Discussions on how the ECB should reduce monetary policy accommodation as growth picks up in the euro area are gaining momentum. Given that the ECB's main interest rate instrument was constrained by the zero-lower bound, monetary accommodation has also been implemented through a number of...

Discussions on how the ECB should reduce monetary policy accommodation as growth picks up in the euro area are gaining momentum. Given that the ECB's main interest rate instrument was constrained by the zero-lower bound, monetary accommodation has also been implemented through a number of...