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Upcoming Event

Oct
2
10:00

Europe and Japan: Monetary policies in the age of uncertainty

The 5th Bruegel - Graduate School of Economics, Kobe University conference will focus on monetary policy.

Speakers: Kosuke Aoki, Ulrich Bindseil, Grégory Claeys, Zsolt Darvas, Ester Faia, Lex Hoogduin, Martin Hellwig, Miles Kimball, Eric Lonergan, Benoît Mojon, Tamotsu Nakamura, Marianne Nessén, Athanasios Orphanides, Wataru Takahashi, Tokiko Shimizu and Guntram B. Wolff Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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External Publication

A New Liquidity Risk Measure for the Chilean Banking Sector

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.

By: Grégory Claeys, Sebastián Becerra and Juan Francisco Martínez Topic: Finance & Financial Regulation Date: June 7, 2017
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Policy Contribution

European Parliament

Is the recent increase in long-term interest rates a threat to euro-area recovery?

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

By: Grégory Claeys and Konstantinos Efstathiou Topic: European Parliament, Finance & Financial Regulation Date: May 29, 2017
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Blog Post

Debunking 5 myths about Frexit

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.

By: Grégory Claeys Topic: European Macroeconomics & Governance Date: March 10, 2017
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Blog Post

Amsterdam’s boom-bust housing market needs its own mortgage limits

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?

By: Grégory Claeys and Dirk Schoenmaker Topic: European Macroeconomics & Governance Date: January 20, 2017
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External Publication

What role for the financial markets in Europe?

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).

By: Grégory Claeys Topic: Finance & Financial Regulation Date: November 16, 2016