Policy Contribution
An earlier version of this paper was presented at ‘The MPC at 25’, a conference organised by the United Kingdom’s National Institute of Economic and Social Research, in London, 30 March 2022 The process by which central banks take decisions has evolved over the years, with a tendency towards independence and decisions taken by committees […]
Opinion
Tackling inflation requires both monetary and fiscal policy tightening. It should be done quickly to avoid building up inflationary inertia and stagflation
Opinion
As the process of digitalisation makes ideas around decentralised finance more relevant, there will be an increasing need for monitoring and supervision.
Past Event
At this event Margrethe Vestager will touch on strategic autonomy, digital regulation and the implications of the Green Deal on competition.
Blog Post
Expected increases in interest rates and reductions in real GDP growth rates will result in relatively small increases in public debt-to-GDP ratios, but inflation will reduce debt ratios very substantially
Blog Post
The European Central Bank needs a new tool to prevent the current rise in spreads, triggered by monetary policy tightening, from escalating into a new euro-area crisis.
Blog Post
Overlapping rules in the digital economy require cooperation between national regulatory authorities; a practical arrangement based on case information, case allocation and case resolution would ensure consistency and effective enforcement.
External Publication
The ECB should design a specific tool that will accompany interest rate hikes to neutralise the risk of fragmentation directly for countries facing it, staying within the bounds of the EU treaties and ensuring political legitimacy. We also advocate structural changes to the ECB’s collateral framework to avoid unnecessary uncertainty surrounding the safe asset status of European sovereign bonds.
Past Event
Annual Conference of the Future of Work and Inclusive Growth project
Past Event
Improving understanding of productivity, its drivers and the way we measure it.
Opinion
Even though inflation in the euro area is lower than in the US, three issues make it a lot more difficult for the ECB to control inflation and preserve financial stability. Once again, the limits of EMU architecture are visible and will require a rethink.
Podcast
What are the implications of prolonged inflation?