Blog post
16 June 2016
We have observed a sharp increase in corporate bond issuance following the ECB’s announcement in March this year, but it is too early to see the effec
Blog post
14 June 2016
Both the Fed and the ECB have managed to remain credible since the financial crisis, but their credibility levels have evolved differently. Since infl
Blog post
09 June 2016
The Eurosystem’s regular open market operations consist of one-week liquidity-providing operations (MROs), and three-month liquidity-providing operati
Blog post
08 June 2016
The new European banking supervision system is broadly effective and, in line with the claim often made by its leading officials, tough and fair, but
Book
08 June 2016
The Blueprint provides a review of the first 18 months of European banking supervision. It reviews the overall situation and the
situation in a numbe
Blog post
07 June 2016
Clearing houses in the UK operate an extremely sizable market in euro-denominated transactions. However, even though the numbers are big in value term
Opinion piece
25 May 2016
In this essay, Jeffry Frieden looks at the process of creating a monetary union in the United States and draws lessons for the EU.
Blog post
24 May 2016
Compared with the ‘core’ of the world economy, emerging markets have limited room for manoeuvre when it comes to applying unconventional monetary poli
Blog post
23 May 2016
Statement prepared for the European Parliament’s ECON Committee Public Hearing of 23 May.
Opinion piece
19 April 2016
Despite the economic downturn the Chinese banking system continues its expansion. Concerns are rising about the institutions' strenght, as bad loans c
Opinion piece
10 April 2016
What would happen if the ECB failed to respond to the excessively low inflation and the weak economy? And what economic policy would be suitable under
Opinion piece
30 March 2016
Fiscal policy in the euro area is hardly supporting the recovery and the ECB. The EU needs a a proper fiscal union in order to stabilise the economy
Blog post
11 March 2016
On Thursday, the ECB surprised observers by announcing a new series of four targeted longer-term refinancing operations (TLTRO II) to be started in Ju
Blog post
02 March 2016
Like the price of financial assets, the market assessment of the capacity of central banks to achieve their price stability objective fluctuates betwe
Blog post
22 February 2016
What’s at stake: The negative market reaction to the latest efforts to provide further monetary stimulus has generated an important discussion on whet
Policy brief
18 February 2016
At the current level of political and societal integration, a large federal budget is unrealistic in the euro area. The authors make three recommenda