Bremia: A study of the impact of Brexit on bond prices
The outcome of the Brexit referendum caught financial markets by surprise, resulting in sharp moves in market prices. But what do those moves tell us about the underlying economic impacts?
The outcome of the Brexit referendum caught financial markets by surprise, resulting in sharp moves in market prices. But what do those moves tell us about the underlying economic impacts?
The analysis of inflation dynamics and their possible changes over time is a key input in the design of monetary policy, particularly in the context of the strategy reviews recently undertaken by the Federal Reserve System and currently under way at the European Central Bank and other central banks. In this article, we study the causes of the stability of US inflation over the business cycle since the 1990s. We conclude that it is mainly due to a reduced sensitivity of firms’ pricing decisions to their cost pressures.
We map ECB policy communications onto yield curve changes and study the information flow on monetary policy decision dates. We find that different monetary policy measures exert effects on different segments of the interest rate term structure, with policy rate changes mostly influencing the short-end of the curve and quantitative easing measures acting more on the long-end. The impact of forward guidance policies, on the other hand, reaches its peak at intermediate maturities.
The dual crises of Covid-19 and climate change represent an opportunity for the European Investment Bank (EIB) to become the world's first Climate Bank. 2020 also marks the year in which the EIB will develop ...
This week the OECD’s Development Assistance Committee (DAC), a forum of the main providers of aid, will once again discuss the rules for reporting debt relief as Official Development Assistance (ODA). ...
An analysis of the European Commission's proposals on EFSD and EFSD+ in the revised NDICI and Next Generation EU The outbreak of Covid-19 has triggered a health, social and economic crisis that exacts ...
The Global Weakness Index (GWI) is a real-time measure of how weak the global economy is. We use this index to assess on the spot how the repercussions of the coronavirus (COVID-19) crisis are playing out. After the release of certain soft indicators on March 2, 2020 the GWI increased sharply – much faster than in the 2008 crisis. And at the time of writing it remains at a record high.
The Covid-19 pandemic is in danger of seriously undermining the capability of developing countries to achieve the Sustainable Development Goals (SDGs). Helping these countries to respond adequately to ...
In advance of the European Council meeting taking place on 19th June, Eurodad, together with CAN Europe, CONCORD, Cooperatives Europe, EaP CSF, ENoP, EPLO, HRDN and VOICE sent a letter to EU Member ...
Could this month’s UN climate conference be the catalyst to get the world back on track? The national lockdowns caused by the COVID-19 pandemic led to many meetings on climate change being cancelled ...