Opinion piece
30 December 2017
Opportunities and risks in Europe in 2018
The new year could very well see the positive story of 2017 continue in Europe – but a number of looming policy and political problems cannot be ignor
Euro area
Showing 161-176 of 284 results
Blog post
12 December 2017
Latest data shows developing trends in the European Central Bank’s refinancing operations
The stock of liquidity supplied through the ECB’s open market operations has remained relatively stable, though there is a clearer change in the count
Blog post
06 December 2017
The eurozone medley: a collection of recent papers on the future of euro-area governance
Our scholars Grégory Claeys, André Sapir, Dirk Schoenmaker, Nicolas Veron and Guntram B. Wolff, explore the next steps needed to create a more functio
Opinion piece
04 December 2017
The European Commission should drop its ill-designed idea of a finance minister
Beyond the opposing ideas of Jean-Claude Juncker and Wolfgang Schäuble for future euro-area governance, Guntram Wolff explores how alternatives such a
Policy brief
01 December 2017
Beyond the Juncker and Schäuble visions of euro-area governance
Two diametrically opposed visions of the euro-area architecture have been put forward. Departing from both Juncker’s and Schäuble’s proposals, the aut
Blog post
29 November 2017
German wages, the Phillips curve and migration in the euro area
This post studies why wages in Germany have not borne strong increases despite a relatively strong labour market. I list four reasons why announcing t
Article
20 November 2017
After the crisis: what new lessons for euro adoption?
Key learning for euro adoption lies within the experience of southern euro member states and the macroeconomic performance of euro ‘ins’ and ‘outs’ am
Blog post
15 November 2017
A slightly tighter ECB
The ECB’s recent decision on QE was somewhat on the dovish side. Francesco Papadia gives his view on why it is time to start a discussion about reduci
Blog post
13 November 2017
Accounting for true worth: the economics of IFRS9
The introduction in 2018 of forward-looking provisioning for credit losses in EU banks delivers on a key objective in the post-crisis regulatory agend
Blog post
06 November 2017
The Eurosystem - Too opaque and costly?
The Eurosystem gets a lot of attention from academics and the media, but they largely focus on its statutory objective of maintaining price stability.
Blog post
02 November 2017
Euro-area enlargement: a new opening?
8 of the EU27 have not yet joined the Euro, and progress in euro-area enlargement seems to have stalled. Commission President Juncker wants to give ne
Policy brief
30 October 2017
The time is right for a European Monetary Fund
Two of the banking union’s pillars – common European supervision by the European Central Bank and common European resolution by the Single Resolution
Policy brief
26 October 2017
The missing pieces of the euro architecture
What are the remaining fragilities of the Euro architecture? This policy contribution assesses the institutional reforms put in place during and after
Blog post
25 October 2017
Phillips vs. Pass-through, or the changing ECB understanding of inflation
This blog post looks at how the approach of the ECB to inflation has changed over the years. It shows the ECB has moved, over the years, from a small
Blog post
10 October 2017
An update: sovereign bond holdings in the euro area – the impact of quantitative easing
Since the European Central Bank’s announcement in January 2015 of its quantitative easing programme, national central banks have been buying governmen
External publication
04 October 2017
The single monetary policy and its decentralised implementation: An assessment
This paper assesses the decentralised implementation of monetary policy by the Eurosystem in terms of its transparency, efficiency and simplicity. Com