Fighting inflation fairly and effectively
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 »
MACROECONOMICS
Examining how the overall economy—the markets, businesses, consumers, and governments—behave, focusing on long-term economic growth and shorter-term business cycles
The first 25 years of the euro: a bird’s-eye view
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 »
Can AI change economic logic and bring abundance for all?
Daniel Daianu asks if AI can address imbalances between needs and resources sustainably by bringing about abundance for all?
Can AI change economic logic and bring abundance for all? Read More »
Beyond money: the euro’s role in Europe’s strategic future
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 »
Where are we on the journey towards price stability?
Central banks have embarked on the largest and most synchronised global monetary policy tightening in a generation. Agustín Carstens reflects on the year ahead and the journey towards price stability
Where are we on the journey towards price stability? Read More »
Aim far, act now: strengthening investment and economic integration to revitalise growth in the euro area
Growth in the euro area needs to be revitalised. Reinhard Felke, Mirko Licchetta, Nicolas Philiponnet and Maarten Verwey argue that it is essential to boost investment and foster innovation
Tax incidence and deposit relocation risks
Unremunerated reserves in the Eurosystem. Robert McCauley and Julien Pinter argue that imposing unremunerated reserves on euro area banks would likely push bank intermediation offshore out of the euro area
Tax incidence and deposit relocation risks Read More »
Unremunerated reserves in the Eurosystem: heads I win, tails you lose
Unremunerated reserves in the Eurosystem. Robert McCauley and Julien Pinter argue that turning huge remunerated excess bank reserves into zero-yielding required reserves is a tax on banks
Unremunerated reserves in the Eurosystem: heads I win, tails you lose Read More »
The economic outlook and monetary policy in the euro area
Luis de Guindos provides an overview of the latest economic developments and discusses the outlook for the euro area economy for the coming months
The economic outlook and monetary policy in the euro area Read More »
Assessing China’s efforts to increase self-reliance
Since 2018 China has pursued a clear, stated objective of self-reliance. Francois de Soyres and Dylan Moore investigate the extent to which China is making progress towards its goals
Assessing China’s efforts to increase self-reliance Read More »