Analysing events such as the COVID pandemic that have created financial instability to banking and capital markets
The Basel III ‘endgame’ standards are to be implemented. Michelle Bowman considers the potential consequences of bank capital reform measures, both in the United States and around the world
The consequences of bank capital reform Read More »
Central banks have engaged in large-scale asset purchase programmes, significantly increasing the size of their balance sheets. Stephen Cecchetti and Jens Hilscher consider the implications
Fiscal consequences of central bank losses Read More »
In their fight against inflation, central banks have raised interest rates. Paul De Grauwe and Yuemei Ji examine the new operating procedures of the Bank of England and the subsidies to the banking sector
The new operating procedures of the Bank of England: a bonanza for the banks Read More »
Jean-Baptiste Gossé and Camille Jehle argue that stock market investors’ could benefit from the facilitation of crossborder investment and from the development of stock markets, especially in Central and Eastern European countries
Benefits of the Capital Markets Union Read More »
Jon Danielsson argues that failures in regulation is a key reason for financial crises, and proposes that the financial authorities instead adopt diversification to build a more resilient financial system
Why so many crises happen when we know why they happen and how to prevent them Read More »
The dollar is by far the dominant currency. Christopher Waller does not expect to see the US dollar lose its status as the world’s reserve currency anytime soon
The United States dollar’s international role Read More »
A two-tier system of reserve requirements is needed to reduce the size of transfers to banks. Paul De Grauwe and Yuemei Ji answer their critics
Fighting inflation fairly and effectively Read More »
Trade finance subsidies, usually provided by export credit agencies, are the predominant tool of industrial policy. Poorya Kabir, Adrien Matray, Karsten Müller and Chenzi Xu discuss the effect of the effective shutdown of the Export–Import Bank of the US (EXIM) from 2015—2019 on firm outcomes
The real effects of trade financing by export credit agencies Read More »
At 25 the euro area has shown extraordinary resilience. Marco Buti and Giancarlo Corsetti articulate a set of reforms to complete the euro area architecture
The first 25 years of the euro: a bird’s-eye view Read More »
To ensure the euro’s role in Europe’s future Fabio Panetta argues that we need effective macroeconomic stability, a fully-fledged banking and capital market union, and a dynamic payments and market infrastructure
Beyond money: the euro’s role in Europe’s strategic future Read More »
