Monetary dialogue
Monetary Dialogue - 25 September
- Euro area monetary policy: Quarterly overview, September 2023
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Monetary Dialogue Preparatory Meeting - 19 September
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1. Achieving the right fiscal-monetary mix (in the context of the economic governance review)
- COMPILATION OF PAPERS (PDF - 2 MB)
- The economic governance review and its impact on monetary-fiscal coordination - Zsolt DARVAS and Jeromin ZETTELMEYER (Bruegel) (PDF - 737 KB)
- Monetary-fiscal interaction: achieving the right monetary-fiscal policy mix in the euro area - Kerstin BERNOTH, Sara DIETZ, Rosa LASTRA, Marie RULLIÈRE (DIW) (PDF - 722 KB)
- Big central banks and big public debts: The next challenges - Charles WYPLOSZ (PDF - 579 KB)
- An effective policy mix for the EU’s post-pandemic challenges - Paolo Canofari, Giovanni Di Bartolomeo and Marcello Messori (LUISS) (PDF - 535 KB)
- Fiscal adjustment supports the fight against sticky inflation - Daniel GROS and Farzaneh SHAMSFAKHR (CEPS) (PDF - 375 KB)
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2. Excess liquidity in the euro area: developments and implications
- COMPILATION OF PAPERS (PDF - 2 MB)
- Excess liquidity in the euro area? Assessment and possible ways forward - Christophe BLOT, Jérôme CREEL and François GEEROLF (OFCE) (PDF - 1 MB)
- Excess liquidity in the euro area: sources and remedies - Marek DABROWSKI (CASE) (PDF - 698 KB)
- The future of ECB liquidity policy - Karl WHELAN (PDF - 447 KB)
Monetary Dialogue - 5 June
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Transcript of the Monetary Dialogue (EN version) EN (PDF - 264 KB) | DE (PDF - 296 KB) | FR (PDF - 274 KB)
- Euro area monetary policy: quarterly overview, June 2023
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Monetary Dialogue Preparatory Meeting – 31 May
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1. Interaction between price stability and financial stability
- COMPILATION OF PAPERS
- Monetary policy and financial stability – Karl WHELAN (University College Dublin) (PDF - 728 KB)
- Is monetary tightening a threat to financial stability? – Christophe BLOT (Sciences Po-OFCE and Université Paris Nanterre), Jérôme CREEL (Sciences Po-OFCE and ESCP Business School), François GEEROLF (Sciences Po-OFCE and CEPR) (PDF - 2 MB)
- Amid price stability and financial stability: Some questions and answers – Luigi BONATTI, Andrea FRACASSO, Roberto TAMBORINI (Department of Economics and Management, University of Trento (Italy)) (PDF - 689 KB)
- Two sides of the same sparkly coin? Disinflation and financial market jitters amid monetary tightening – Christian GLOCKER, Stefan SCHIMAN-VUKAN, Thomas URL (Austrian Institute of Economic Research (WIFO)) (PDF - 636 KB)
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2. The effects of high inflation and monetary tightening on the real economy
- COMPILATION OF PAPERS
- Inflation and the effects of monetary tightening in the euro area – Klaus-Jürgen GERN, Nils JANNSEN, Nils SONNENBERG (Kiel Institute for the World Economy) (PDF - 1 MB)
- Inflation and inequality: energy and food versus rents – Daniel GROS (CEPS and Bocconi University), Farzaneh SHAMSFAKHR (CEPS) (PDF - 1 MB)
- Real challenges to the ECB – Charles WYPLOSZ (the Graduate Institute, Geneva) (PDF - 589 KB)
- Unavoidable: High inflation and monetary tightening in the euro area – Christopher A. Hartwell (ZHAW School of Management and Law), Koźminski University (CASE – Center for Social and Economic Research) (PDF - 745 KB)
Monetary Dialogue - 20 March
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Transcript of the Monetary Dialogue EN (PDF - 330 KB) | FR (PDF - 361 KB) | DE (PDF - 308 KB)
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Monetary Dialogue Preparatory Meeting – 14 March
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1. Quantitative tightening in the euro area
- COMPILATION OF PAPERS (PDF - 3 MB)
- Finding the right balance (sheet): quantitative tightening in the euro area – Grégory CLAEYS (Bruegel) (PDF - 811 KB)
- ECB stepping on the brake(s): Monetary tightening in an abundant reserve system – Nils SONNENBERG, Kiel Institute for the World Economy (PDF - 1014 KB)
- QT in the euro area – Karl WHELAN (University College Dublin) (PDF - 773 KB)
- Quantitative tightening in homeopathic doses: The ECB and the long shadow of the PSPP and the PEPP – Daniel GROS, Farzaneh SHAMSFAKHR (CEPS) (PDF - 692 KB)
- Now is the time for quantitative tightening – Charles WYPLOSZ (The Graduate Institute, Geneva) (PDF - 491 KB)
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2. Prospects for monetary policy one year into the war in Ukraine
- COMPILATION OF PAPERS (PDF - 4 MB)
- Inflation dynamics and monetary policy in the euro area – Pierpaolo BENIGNO (Universität Bern), Paolo CANOFARI (Università Politecnica delle Marche, Ancona), Giovanni DI BARTOLOMEO (Sapienza Università di Roma), Marcello MESSORI (Luiss Guido Carli, Roma) (PDF - 1 MB)
- Addressing inflationary risks in the face of high energy prices: what can the ECB do? – Gökhan IDER, Alexander KRIWOLUZKY, Frederik KURCZ, Ben SCHUMANN (DIW Berlin) (PDF - 1 MB)
- Out of the fog? Inflation in an era of ECB policy reversals – Pierre SIKLOS (CASE – Center for Social and Economic Research) (PDF - 822 KB)
- The direct and indirect impacts of the war on inflation – C. BLOT (Sciences Po-OFCE; Université Paris Nanterre), J. CREEL (Sciences Po-OFCE; ESCP Business School), F. GEEROLF (Sciences Po-OFCE; CEPR; University of California, Los Angeles) (PDF - 1 MB)