Euro Area Policies

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 112 pages
File Size : 42,7 Mb
Release : 2015-07-27
Category : Business & Economics
ISBN : 9781513523088

Get Book

Euro Area Policies by International Monetary Fund. European Dept. Pdf

This Selected Issues paper discusses the risks of low growth and inflation over the medium term for the euro area. It examines the consequences of longer term trends that predate the crisis and the progress made in addressing the crisis legacies of high unemployment and debt. The paper illustrates, in a downside scenario, how low potential growth and crisis legacies leave the euro area vulnerable to the risks of stagnation. The weak medium-term prospect and limited policy space leave the euro area vulnerable to shocks that could lead to a prolonged period of low growth and inflation. Model simulations suggest that a modest shock to investor confidence could push up risk premia and real interest rates, as policy space is constrained at the zero lower bound and fiscal policy space to provide stimulus is limited. Moreover, the lingering crisis legacies of high debt and unemployment could amplify the original shocks, creating a bad feedback loop and keeping the economy stuck in equilibrium of stagnation.

Author : International Monetary Fund
Publisher : Unknown
Page : 128 pages
File Size : 43,9 Mb
Release : 2015
Category : Europe
ISBN : 1513546570

Get Book

Euro Area Policies by International Monetary Fund Pdf

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 32 pages
File Size : 55,5 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781484369319

Get Book

Euro Area Policies by International Monetary Fund. Monetary and Capital Markets Department Pdf

Regulation, supervision, and oversight of central counterparties (CCPs) and central securities depositories (CSDs) in the euro area is evolving. Recent proposed amendments to the European Market Infrastructure Regulation (EMIR) are expected to further alter the landscape, as is the European Central Bank (ECB) proposal to amend article 22 of the Statute of the European System of Central Banks (ESCB) and the ECB. The main objective of this note is to analyze the regulatory and supervisory structure applicable to CCPs and International CSDs (ICSDs) in the European Union (EU) and assess their suitability using international standards and good practices.

Author : Anonim
Publisher : Unknown
Page : 74 pages
File Size : 46,6 Mb
Release : 2007
Category : Euro
ISBN : STANFORD:36105114089506

Get Book

Euro Area Policies, ... Article IV Consultation by Anonim Pdf

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 52 pages
File Size : 51,5 Mb
Release : 2014-07-14
Category : Business & Economics
ISBN : 9781498342865

Get Book

Euro Area Policies by International Monetary Fund. European Dept. Pdf

This 2014 Article IV Consultation highlights that the euro area recovery is taking hold. Real output has expanded for four consecutive quarters, and financial market sentiment has improved markedly. Complementary policy actions have supported demand, boosted investor confidence, and eased financial conditions. At the national level, governments have made further progress repairing sovereign and bank balance sheets and implementing structure reforms to restore competitiveness. At the area-wide level, the ECB has taken a wider range of measures to support demand and address fragmentation. Over the medium term, there is a risk of stagnation, which could result from persistently depressed domestic demand owing to deleveraging, insufficient policy action, and stalled structural reforms.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 49 pages
File Size : 44,7 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781484369661

Get Book

Euro Area Policies by International Monetary Fund. Monetary and Capital Markets Department Pdf

The euro area (EA) bank resolution and crisis management arrangements have been strengthened considerably over recent years, but work remains to complete and unify the regime. The adoption of the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR), and the establishment of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM) provide a foundation to deal with problem banks. The authorities remain committed to completing the banking union through the establishment of a backstop for the Single Resolution Fund (SRF) and a European deposit insurance scheme (EDIS) and other measures, many of which are in line with recommendations in this report.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 342 pages
File Size : 55,9 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781484369715

Get Book

Euro Area Policies by International Monetary Fund. Monetary and Capital Markets Department Pdf

The SSM (SSM) has made a solid start. Set up a little over three years ago, the SSM has developed into a coherent banking supervision mechanism operating across the 19 Euro Area Member States. Banking supervision at the European Central Bank (ECB) is underpinned by a clear mandate and independence from government or industry interference in individual supervisory decisions. Its well-defined supervisory methodology and processes—complemented by committed staff—have laid the foundations for more forward-looking, pre-emptive, and evenhanded supervision. This is a noteworthy achievement for the Euro Area.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 59 pages
File Size : 49,5 Mb
Release : 2009-07-30
Category : Business & Economics
ISBN : 9781451813098

Get Book

Euro Area Policies by International Monetary Fund Pdf

This 2009 Article IV Consultation focuses on euro area policies. The euro area remains in recession, with signs of improvement yet to evolve into a recovery. The large drop in financial wealth, an associated increase in private savings, tight financing conditions, and the adjustment of global imbalances are key drivers of the economic decline. Executive Directors have welcomed the broad arsenal of macroeconomic policies and financial sector interventions deployed by euro area authorities and Member States to address the crisis.

Author : Anonim
Publisher : Unknown
Page : 68 pages
File Size : 45,9 Mb
Release : 2007
Category : European Union countries
ISBN : STANFORD:36105123893070

Get Book

Euro Area Policies, Selected Issues by Anonim Pdf

Author : Mr.Ali J Al-Eyd,Pelin Berkmen
Publisher : International Monetary Fund
Page : 32 pages
File Size : 54,8 Mb
Release : 2013-10-04
Category : Business & Economics
ISBN : 9781484365113

Get Book

Fragmentation and Monetary Policy in the Euro Area by Mr.Ali J Al-Eyd,Pelin Berkmen Pdf

The ECB has taken a range of actions to address bank funding problems, eliminate excessive risk in sovereign markets, and safeguard monetary transmission. But euro area financial markets have remained fragmented, driving retail interest rates in stressed markets far above those in the core. This has impeded the flow of credit and undermined the transmission of monetary policy. Analysis presented here indicates that the credit channel of monetary policy has broken down during the crisis, particularly in stressed markets, and that SMEs in these economies appear to be most affected by elevated lending rates.Given these stresses, the ECB can undertake additional targeted policy measures, including through additional term loans, collateral policies, and private asset purchases.

Author : Céline Allard,Ms.Petya Koeva Brooks,Mr.John C Bluedorn,Fabian Bornhorst,Ms.Franziska L Ohnsorge,Mrs.Katharine M Christopherson Puh
Publisher : International Monetary Fund
Page : 29 pages
File Size : 48,5 Mb
Release : 2013-09-25
Category : Business & Economics
ISBN : 9781484307373

Get Book

Toward A Fiscal Union for the Euro Area by Céline Allard,Ms.Petya Koeva Brooks,Mr.John C Bluedorn,Fabian Bornhorst,Ms.Franziska L Ohnsorge,Mrs.Katharine M Christopherson Puh Pdf

This is on a highly topical issue and addresses a key policy issue for Europe—namely, reinforcing EMU institutional architecture along with the Banking Union. Some proposals have emerged in Europe, and it will be important to put out staff views on this issue. In that context, publication as an SDN is appropriate, given the high profile nature and relevance of the topic—much like the Banking Union paper done a few months ago.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 145 pages
File Size : 54,9 Mb
Release : 2018-07-19
Category : Business & Economics
ISBN : 9781484369401

Get Book

Euro Area Policies by International Monetary Fund. Monetary and Capital Markets Department Pdf

The FSAP team undertook a thorough top-down stress testing analysis using end-2017 data. This note covers the methodology and results of the scenario-based solvency tests, the single factor sensitivity tests, and the liquidity tests. The stress test exercise was carried out on a sample of major euro area banks supervised by the Single Supervisory Mechanism (SSM). The analysis is heavily dependent on comprehensive and granular supervisory data on individual banks’ positions shared by the European Central Bank (ECB). While FSAP results are not directly comparable to the 2018 EU-wide stress test results due to differences in scenarios, methodologies, and objectives, they provide an assessment of the system-wide resilience of the euro area banking sector at the current juncture.

Author : Kenneth Dyson
Publisher : OUP Oxford
Page : 400 pages
File Size : 40,6 Mb
Release : 2006-11-02
Category : Political Science
ISBN : 9780191515422

Get Book

Enlarging the Euro Area by Kenneth Dyson Pdf

This book seeks to offer the first in-depth and systematic analysis of the challenges of the Euro Area and the eastward enlargement of the European Union. It focuses in particular on how the prolonged process of accession to the Euro Area is affecting domestic economic policies in the accession states of east central Europe. It contributes to Europeanization studies, comparative political economy and to studies of Economic and Monetary Union. It also provides a picture of processes of domestic transformation in such countries as the three Baltic States, Bulgaria, the Czech Republic, Hungary, Poland and Romania. The book brings together a range of recognized experts from across Europe and combines country and sectoral case studies with a thematic treatment. It begins by offering an 'outside-in' perspective, which situates the effects of EMU on the accession states in the wider context of the development of global economic norms. The second part focuses on an 'inside-out' analysis of how Euro Area accession affects the states of east central Europe - their policies, politics and public institutions. The final part assesses how Euro Area accession is affecting key policy sectors in east central Europe: financial market regulation, fiscal policies and welfare states and labour markets.

Author : Rishi Goyal,Ms.Petya Koeva Brooks,Mahmood Pradhan,Mr.Thierry Tressel,Mr.Giovanni Dell'Ariccia,Ceyla Pazarbasioglu
Publisher : International Monetary Fund
Page : 31 pages
File Size : 45,7 Mb
Release : 2013-02-12
Category : Business & Economics
ISBN : 9781475569827

Get Book

A Banking Union for the Euro Area by Rishi Goyal,Ms.Petya Koeva Brooks,Mahmood Pradhan,Mr.Thierry Tressel,Mr.Giovanni Dell'Ariccia,Ceyla Pazarbasioglu Pdf

The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.

Author : International Monetary Fund
Publisher : Unknown
Page : 32 pages
File Size : 42,8 Mb
Release : 2000-05-11
Category : Fiscal policy
ISBN : 1280894857

Get Book

Monetary and Exchange Rate Policies of the Euro Area--The Euro Area Stability Programs by International Monetary Fund Pdf