European Central Bank

Unlocking efficiency: optimal monetary policy when capital misallocation matters

Retrieved on: 
Friday, April 19, 2024
Commitment, Statistics, European Central Bank, Central bank, Face, Science, Grimm, ECB, Benigno, Journal, Policy, American Economic Journal, TFP, International Monetary Fund, American Economic Association, Business cycle, Fornaro, Interest, Princeton University Press, Directorate, American Economic Review, Literature, New Keynesian economics, Timeless, NBER

While “misallocation of capital” and its detrimental impact on productivity is traditionally beyond the scope of central banks, monetary policy can influence it through firms’ investment decisions.

Key Points: 
  • While “misallocation of capital” and its detrimental impact on productivity is traditionally beyond the scope of central banks, monetary policy can influence it through firms’ investment decisions.
  • Using a New Keynesian model and granular data on Spanish firms, our results show that expansionary monetary policy reduces capital misallocation.

Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A)

Retrieved on: 
Thursday, April 18, 2024
Well, Reproduction, EUR, Speech, Uncertainty, Season, CPI, Comment, Growth, Projection, Pressure, ECB, European Parliament, Mechanics, Risk, Frankfurt, Disinflation, Next Generation, Policy, News, Communication, Nature, Outline, TPI, Credit, Investment, Parity, Fed, European, Risk assessment, APP, Single market, Watcher, Personal ordinariate, PEPP, European Central Bank, MPS, Cryptocurrency

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Results of the ECB Survey of Professional Forecasters for the second quarter of 2024

Retrieved on: 
Thursday, April 18, 2024
Reproduction, Growth, ECB, Unemployment, Real, Frankfurt, SPF, Communication, Food, HICP, GDP, European Central Bank

Headline HICP inflation was expected to decline from 2.4% in 2024 to 2.0% in both 2025 and 2026.

Key Points: 
  • Headline HICP inflation was expected to decline from 2.4% in 2024 to 2.0% in both 2025 and 2026.
  • Expectations for core HICP inflation, which excludes energy and food, were also unchanged for the years from 2024 to 2026.
  • Respondents expected real GDP growth of 0.5% in 2024, 1.4% in 2025 and 1.4% in 2026.
  • Notes
    - The SPF for the second quarter of 2024 was conducted between 18 and 21 March 2024 and 61 responses were received.

Results of the March 2024 Survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

Retrieved on: 
Thursday, April 18, 2024
Reproduction, Credit, Frankfurt, Publication, OTC, Communication, European Central Bank, ECB, Security (finance)

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Frank Elderson: “Know thyself” – avoiding policy mistakes in light of the prevailing climate science

Retrieved on: 
Thursday, April 18, 2024
European Convention, Reproduction, Failure, European Court, Face, Human rights, Frankfurt, Climate, United Nations, World Bank Group, Investment, Paris Agreement, International economics, Policy, Bank of Greece, Wildfire, Speech, Environment, United Nations Environment Programme, Science, ECB, Blog, Risk, Education, EIOPA, Communication, Drought, Ancient Greek, Climate change, Safety, Watcher, De Nederlandsche Bank, Procrastination, Depression, European Environment Agency, Green, Tourism, Knowledge, Research, Food, Private sector, Insurance, IPCC, Movement, European Central Bank, The, Temperature, Health, Uncertainty, Attention, Conference, Financial system, Supervisory board, Oracle, Bank, Fishery, Flood, Thought, DELFI, Water, World Bank, Persians, Government, International human rights law, Renewable energy

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Philip R. Lane: Disinflation in the euro area: an update

Retrieved on: 
Thursday, April 18, 2024
Element, Reproduction, SAFE, Speech, Conference, Growth, Brookings Institution, Disinflation, Finance, Projection, Exercise, ECB, Real, Risk, Frankfurt, Bank, SPF, Policy, Communication, ILS, HICP, OIS, DFR, GDP, The, APP, Watcher, Bangladesh Technical Education Board, Probability, Swings, Fiscal, Acceleration, Goethe University Frankfurt, Personal ordinariate, PEPP, CTS, European Central Bank, Fear, Bookkeeping

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

ECB confirms remuneration ceiling for euro area government deposits and adjusts remuneration of other non-monetary policy deposits

Retrieved on: 
Thursday, April 18, 2024
Remuneration, Failure, Reproduction, FMI, Government, European Economic Area, ECB, Risk, Treaty, Frankfurt, Policy, Communication, Council, European, ERMS, FX, Press, Decision, European Central Bank, Security (finance)

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Isabel Schnabel: The future of inflation (forecast) targeting

Retrieved on: 
Thursday, April 18, 2024
Reproduction, Exercise, Finance, Journal of Economic Perspectives, Calibration, Frankfurt, Empirical evidence, American Economic Association, Great Moderation, Interest, Inflation, Norges Bank, Policy, Bank, The Economic Journal, Speech, Employment, ECB, Risk, University of Chicago Press, Communication, Sveriges Riksbank, Debate, OECD, European Economic Review, Watcher, Economic Policy (journal), Goethe University Frankfurt, Federal Reserve Bank, Depression, Christian Social Union (UK), Climate change, Projection, IPhone, Intelligence, Agriculture, Bias, Journal, Research, Disinflation, Harvard Business School, University, Food, Business cycle, Bank of England, European Central Bank, The, American Economic Journal, Uncertainty, Attention, Finance Secretary (India), Conference, Forecasting, Growth, Rotation, Environment, Reserve Bank, Federal, COVID-19, Washington, D.C., Metal, HICP, Federal Reserve, Working paper, American Economic Review, Cryptocurrency

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Luis de Guindos: Presentation of the ECB Annual Report 2023 to the Committee on Economic and Monetary Affairs of the European Parliament

Retrieved on: 
Thursday, April 18, 2024
Reproduction, Capital Markets Union, Attention, Growth, Face, Weakness, European Parliament, ECB, Committee, ESCB, Frankfurt, Policy, CRE, Communication, Insurance, CMU, Parliament, DFR, Economy, Suggestion, Annual report, European Central Bank

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.

Forecast processes and methodologies: results of the 2023 special survey - Survey conducted on the occasion of the 25th anniversary of the ECB SPF

Retrieved on: 
Thursday, April 18, 2024
Reproduction, NAIRU, European Central Bank, Employment, Climate change, Uncertainty, Tax, PDF, Forecasting, Growth, National Institute Economic Review, Central bank, ECB, Unemployment, Shock, Travel, MRO, SPF, Participation, Bank, Social Research (journal), Policy, Artificial intelligence, Website, HICP, Chart, GDP, Weather, Elasticity, Recreation, Machine learning, Probability, ISSN, Management

Stock market development and familiarity (language and distance) are considered key determinants for home bias.

Key Points: 
  • Stock market development and familiarity (language and distance) are considered key determinants for home bias.
  • The literature neglects however that investors often invest in foreign funds domiciled in financial centers.