Blog post
30 January 2017
Demonetisation: India’s stress test
What were the reasons for the Indian government's sudden decision to remove 86% of hard currency from circulation? Will Modi's monetary intervention a
Monetary policy
Showing 225-240 of 339 results
Blog post
13 January 2017
The Italian Lira: the exchange rate and employment in the ERM
In the decades before Italy joined the Euro, the Lira was devalued many times relative to the Deutschmark. Were these re-alignments accompanied by lon
Opinion piece
08 December 2016
Eurozone QE and bank profitability: Why it is too early to taper
In the eyes of the critics, the quantitative easing programs have been of little help to growth and inflation and have instead been an attack on save
Policy brief
30 November 2016
What impact does the ECB’s quantitative easing policy have on bank profitability?
This Policy Contribution shows that the effect of the ECB’s QE programme on bank profitability has not yet had a dramatically negative effect on bank
Blog post
22 November 2016
An update: Sovereign bond holdings in the euro area – the impact of QE
Since the ECB’s announcement of its QE programme in January 2015, national central banks have been buying government and national agency bonds. In thi
Blog post
07 November 2016
Monetary policy at the time of elections
What’s at stake: At this week’s meeting, the Federal Reserve left interest rates unchanged. While this was largely expected, the economic blogosphere
External publication
18 October 2016
Currency crises in post-Soviet economies — a never ending story?
This paper offers an updated and comprehensive analysis of the currency crises in Russia and the former Soviet Union economies.
Blog post
17 October 2016
Brexit, the pound and the UK current account
What’s at stake: UK PM Theresa May announced the intention to trigger article 50 by March 2017, the Pound Sterling crashed, and a dispute among Tesco
Opinion piece
07 October 2016
The yuan's SDR entry is more symbolism than substance
The yuan's official entry into the International Monetary Fund's basket of reserve currencies on Oct. 1 raised expectations that central banks all ove
Opinion piece
30 September 2016
EZB-Chef Draghi enteignet die Sparer nicht
Die EZB reagiert mit ihrer Geldpolitik nur auf die schwache wirtschaftliche Lage. Sie ist nicht dafür zuständig, für hohe Renditen europäischer Sparer
Policy brief
26 September 2016
Low long-term rates: bond bubble or symptom of secular stagnation?
Yields on European sovereign bonds have reached historically low levels in 2016. This secular decline in long-term sovereign yields is not limited to
Blog post
30 June 2016
No Lehman moment on currency markets after Brexit vote
While the pound sterling has lost a lot of its value right after the Brexit vote, from a historical perspective neither the fall of the exchange rate,
Blog post
28 June 2016
Bank shares take a hard hit following Brexit
In the past five days a number of banks have seen their stock value decline by large amounts.
Policy brief
23 June 2016
The effectiveness of the European Central Bank’s Asset Purchase Programme
Since the end of 2014, inflation has been at or very close to zero. With very little ability to move the actual interest rate further into negative te
Blog post
24 May 2016
Core and periphery: different approaches to unconventional monetary policy
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
19 May 2016
Sovereign bond holdings in the euro area - the impact of QE
Since the announcement of the QE programme by the European Central Bank (ECB) on 22 January 2015, national central banks have been buying government a