By and large, setting a new green golden rule would be a useful addition to the existing EU fiscal framework.
The pandemic has increased the net lending position of the German corporate sector. By incentivising private investment, policymakers could trigger a virtuous cycle of increasing wages, decreasing corporate net lending, which would eventually lead to a reduction of the economy-wide current account surplus.
How does climate change influence monetary policy in the eurozone? What potential monetary policy measures should be taken up to address climate risks?
A look at the past, present and future of fiscal policy in the European Union with Chief economist of the European Stability Mechanism, Rolf Strauch.
This event will feature the presentation of “Monetary Policy in Times of Crisis – A Tale of Two Decades of the European Central Bank."
In-depth analysis prepared for the European Parliament's Committee on Economic and Monetary Affairs (ECON).
A roadmap for systemic economic reform calling for step-change in global economic governance to increase resilience and build forward better from economic shocks, prepared for the G7 Advisory Panel on Economic Resilience.
Perhaps an analysis of the causes of the declining investment rate would bring us closer to explaining why real interest rates are so low.
How can the European Union increase green public investment while consolidating budget deficits?
Between 2007 and 2020, the balance sheets of the European Central Bank, the Bank of Japan, and the Fed have all increased about sevenfold. But inflation stayed low throughout the 2010s. This was possible due to decreasing money velocity and the money multiplier. However, a continuation of asset purchasing programs by central banks involves the risk of higher inflation and fiscal dominance.
The pandemic has certainly permanently affected our way of working. Whether this is for the better remains to be seen.
In this event panelists will discuss the future of European pension schemes.