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
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.
Opinion
The real issue for EU leaders when they discuss Ukraine’s application at a 23-24 June summit and beyond, is what kind of club the EU should be.
Podcast
Should Ukraine's accession to the EU be facilitated?
Past Event
In the latest installment of the Sound of Economics Live we debate whether Ukraine's accession to the EU should be facilitated.
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.
Blog Post
Food and fertiliser export restrictions are exacerbating the current food price crisis. The WTO and EU legal toolkits provide some safeguards but are insufficient. Unblocking Ukrainian ports and facilitating wheat exports through large-scale international coordination remains essential.
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.
Opinion
Planning Ukraine’s reconstruction tomorrow is important but meeting its financial needs today is more pressing and requires urgent action by the IMF and the international financial community.
Podcast
What are the implications of prolonged inflation?