Opinion piece
10 April 2016
Mere criticism of the ECB is no solution
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
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
14 March 2016
What’s at stake: Central banks have recently been scaling up their unconventional monetary policy measures. Discussions about helicopter money seem to
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
04 March 2016
The central government will hold the National People’s Congress (NPC) meeting on March 5th. All the signs point to more monetary and fiscal stimulus,
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
Blog post
17 February 2016
Misalignments of real exchange rates continue to be the most visible and painful symptom of asymmetric shocks within the Eurozone. An important factor
Policy brief
15 February 2016
The ECB has made a series of changes to its QE programme in order to expand the universe of purchasable assets and have more flexibility in the execut
Blog post
01 February 2016
What’s at stake: Following an article in the New York Times by David Beckworth and Ramesh Ponnuru, the conversation on the blogosphere was dominated t
Blog post
25 January 2016
What’s at stake: The recent positive link between oil and stock prices has been puzzling for most observers. While a decrease in the price of oil was
Event
22 January 2016
The ECB and its response to crises in the euro area have been in the spotlight recently. But how does EU membership affect the central banks of non-Eu
Blog post
21 January 2016
Although the Great Recession was viewed as a US problem, the Eurozone was affected by it from the start. This column compares the monetary policy resp
Blog post
21 January 2016
The price of crude oil has fallen even further in recent weeks, as have financial market measures of inflation expectations in the euro area, the US a
Opinion piece
21 January 2016
The Chinese are watching a new storm unfold in their financial markets, only months after having been bombarded with news about China’s “historical vi
Blog post
18 January 2016
In a recent paper, I looked at the evolution of financial cycles in the euro area and at their link with capital flows. Here, I focus on how those fin