The 5th Bruegel - Graduate School of Economics, Kobe University conference will focus on monetary policy.
This paper introduces a new metric for central banks – and in particular for the Central Bank of Chile – to measure liquidity risk in their banking sector using the bidding behavior of commercial banks in their open market operations.
After reaching historically low levels, European long-term sovereign yields experienced a notable rise at the end of 2016 and beginning of 2017. This paper discusses the factors behind it and the potential implications for the euro-area economy, public finances and ECB policy
French elections are fast approaching and the debate on euro membership is now in full swing. ‘Frexit’ supporters promise that the benefits of leaving the euro would be substantial for the French economy, that economic policy would be greatly improved, and most importantly that the exit process would be a piece of cake. This blog post shows that these claims are greatly exaggerated if not outright lies.
House prices in the Netherlands are on the rise again. But at the local level the pattern is very uneven: house prices in major cities are rising faster than in the rest of the country. Yet, macroprudential policies in Europe are based on trends in national housing price indices. With such divergence between Dutch regions, is that appropriate?
The European financial system is too strongly bank-based. How can it be rebalanced to become favourable to growth and employment again? (This paper is only available in French).