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Gesucht nach "European Fiscal Board".
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Publikationen // 17.06.2024
examining its fiscal architecture, which forms the underlying framework for convergence and cohesion policies.In several steps, Cohesion Policy is examined in its function as a European financial e [...] In its current setup, the European Union is often characterised as slow, decision-impeding, inefficient and therefore not really ready for enlargement. The pandemic, the war in Ukraine, the energy crisis [...] allocation of EU funds across the Member States and their regions. Not least with regard to this fiscal equalisation formula, known as the Berlin method, the paper formulates several recommendations for
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Publikationen // 18.01.2024
We use data on speeches held by members of the European Central Bank's (ECB) Executive Board to analyze whether clarity of central bank communication has increased over time. Employing readability measures [...] since the inception of the ECB. The increase is gradual, rather than being induced by changes in the board composition or major macroeconomic events. Clarity is higher for speeches aimed at general audiences
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Publikationen // 01.10.2023
Using novel data on speeches held by members of the European Central Bank’s Executive Board, we investigate whether monetary policy transparency has increased over time. With respect to the general [...] general public as the target audience, our findings suggest that the European Central Bank successfully improved the frequency and clarity of information provision since its inception. The increase in transparency [...] transparency is gradual, rather than being induced by changes in the Executive Board’s composition or major economic events such as the Great Recession. However, the clarity of speeches in recent years
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Publikationen // 11.06.2021
monetary versus fiscal policy announcements on government bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players – the ECB or the EU fiscal level – has been [...] announcement of the ‘Next Generation EU’ program. In contrast, a temporary relaxation of European fiscal rules through the activation of the emergency-escape clause under the Stability and Growth [...] the pandemic monetary emergency measures through the PEPP have been highly effective, whereas fiscal rescue announcements had much less impact. We document a smaller and statistically significant