1912

resultat

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Recovery and Resilience Plans: stakeholders’ involvement

23-09-2021

Based on the Commission assessments of national Recovery and Resilience Plans, this paper provides an overview of the overall involvement of stakeholders in the national recovery and resilience plans. In view of supporting the scrutiny of the implementation of the national plans, the paper also makes references to some positions and assessments by EU level stakeholders and other relevant institutions and bodies, including specific monitoring activities by think tanks and civil society organisations ...

Based on the Commission assessments of national Recovery and Resilience Plans, this paper provides an overview of the overall involvement of stakeholders in the national recovery and resilience plans. In view of supporting the scrutiny of the implementation of the national plans, the paper also makes references to some positions and assessments by EU level stakeholders and other relevant institutions and bodies, including specific monitoring activities by think tanks and civil society organisations. The paper will be regularly updated.

Recovery and Resilience Plans - state of play (September 2021)

22-09-2021

This document provides a state of play of the Recovery and Resilience Plans (RRPs) under the Recovery and Resilience Facility (RRF) covering, notably, Commission assessment and Council adoption procedures. It is based on an earlier EGOV paper, dated June 2021. The document will be regularly updated.

This document provides a state of play of the Recovery and Resilience Plans (RRPs) under the Recovery and Resilience Facility (RRF) covering, notably, Commission assessment and Council adoption procedures. It is based on an earlier EGOV paper, dated June 2021. The document will be regularly updated.

The Recovery and Resilience Plans: governance at national level

17-09-2021

Based on the Commission assessments of national Recovery and Resilience Plans, this paper provides an overview of two specific dimensions of such analysis - the governance and control structures set up at national level for implementation of the national plans. The briefing summarises in an annex the relevant references in the Commission documents. It also presents, in the introduction, a high level analysis of some related elements of the national plans, as assessed by the Commission and related ...

Based on the Commission assessments of national Recovery and Resilience Plans, this paper provides an overview of two specific dimensions of such analysis - the governance and control structures set up at national level for implementation of the national plans. The briefing summarises in an annex the relevant references in the Commission documents. It also presents, in the introduction, a high level analysis of some related elements of the national plans, as assessed by the Commission and related reports and initiatives. It also refers to the relevant legal framework in the Recovery and Resilience Facility Regulation. This paper will be updated once additional plans are assessed by the Commission.

Regulating facial recognition in the EU

15-09-2021

The European Union is considering regulating facial recognition in the proposed artificial intelligence act, currently under discussion. This EPRS publication explains the state of play and further highlights the concerns raised by the use and the potential impacts on people's fundamental rights of facial recognition technologies. Against this background, the paper explores the current EU legal framework applicable to facial recognition and examines the recent proposals for regulating facial recognition ...

The European Union is considering regulating facial recognition in the proposed artificial intelligence act, currently under discussion. This EPRS publication explains the state of play and further highlights the concerns raised by the use and the potential impacts on people's fundamental rights of facial recognition technologies. Against this background, the paper explores the current EU legal framework applicable to facial recognition and examines the recent proposals for regulating facial recognition technologies at EU level in depth.

The Tail Wagging the Dog? Overcoming Financial Dominance

13-09-2021

The idea of financial dominance has gained some notoriety in recent years as a further constraint on central bank policymaking. This paper examines the reality of financial dominance and how the financial sector may be an impediment to the necessary unwinding of all unconventional monetary policies in Europe. In line with the existing literature, I conclude that the financial sector has been made more vulnerable as a result of quantitative easing – and allowing the financial tail to wag the monetary ...

The idea of financial dominance has gained some notoriety in recent years as a further constraint on central bank policymaking. This paper examines the reality of financial dominance and how the financial sector may be an impediment to the necessary unwinding of all unconventional monetary policies in Europe. In line with the existing literature, I conclude that the financial sector has been made more vulnerable as a result of quantitative easing – and allowing the financial tail to wag the monetary dog will lead to only more vulnerability. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.

Extern avdelning

Christopher A. HARTWELL

What About Policy Normalisation?

13-09-2021

As the ECB follows the time-honoured inflation targeting strategy, it runs the risk of, once more, failing to normalise its policy in time for the next unexpected shock. With interest rates at their lower bounds and facing historic uncertainty that undermines its policy effectiveness, a strong case can be made for developing a Plan B. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs ...

As the ECB follows the time-honoured inflation targeting strategy, it runs the risk of, once more, failing to normalise its policy in time for the next unexpected shock. With interest rates at their lower bounds and facing historic uncertainty that undermines its policy effectiveness, a strong case can be made for developing a Plan B. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.

Extern avdelning

Charles WYPLOSZ

Financial Dominance: Not an Immediate Danger

13-09-2021

Financial dominance describes a situation in which a central bank does not dare to tighten its policy stance as this would threaten the stability of the financial system. The danger of this happening is limited at present. The banking system is well capitalised. Private credit has not expanded much, not even during the COVID-19 recession in most euro area countries – except in France. However, in some countries, the financial sector remains highly exposed to sovereign debt. "Indirect financial dominance ...

Financial dominance describes a situation in which a central bank does not dare to tighten its policy stance as this would threaten the stability of the financial system. The danger of this happening is limited at present. The banking system is well capitalised. Private credit has not expanded much, not even during the COVID-19 recession in most euro area countries – except in France. However, in some countries, the financial sector remains highly exposed to sovereign debt. "Indirect financial dominance" could thus easily arise if sovereign risk premia return. Continuing asset purchases under the PEPP increases the danger of fiscal dominance. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.

Extern avdelning

Daniel GROS, Farzaneh SHAMSFAKHR

Inflation on the Upswing - Just a Hiccup or a Trend Reversal After All?

13-09-2021

Although energy price volatility has recently been the largest contributor to movements in the headline inflation rate, there are other factors indicating that inflation in the euro area will remain elevated in the months ahead. However, most of them have only a temporary effect. A major risk to the further development of inflation is a rise in inflation expectations, which should be monitored critically. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life ...

Although energy price volatility has recently been the largest contributor to movements in the headline inflation rate, there are other factors indicating that inflation in the euro area will remain elevated in the months ahead. However, most of them have only a temporary effect. A major risk to the further development of inflation is a rise in inflation expectations, which should be monitored critically. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.

Extern avdelning

Kerstin BERNOTH, Gökhan IDER

Rise in Inflation: Much Ado About Nothing?

13-09-2021

Euro area inflation reached 3% in August, a rapid increase from August 2020 when it was -0.3%. As the inflation rate now outpaces the ECB's medium-term target of 2%, could it become a concern for the central bank? After showing that the health crisis was unprecedented in its nature and sectoral characteristics, we study the determinants of inflation in the short term and then discuss various elements that could influence the trajectory of future inflation and mitigate inflation fears. This paper ...

Euro area inflation reached 3% in August, a rapid increase from August 2020 when it was -0.3%. As the inflation rate now outpaces the ECB's medium-term target of 2%, could it become a concern for the central bank? After showing that the health crisis was unprecedented in its nature and sectoral characteristics, we study the determinants of inflation in the short term and then discuss various elements that could influence the trajectory of future inflation and mitigate inflation fears. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.

Extern avdelning

Christophe BLOT, Caroline BOZOU and Jérôme CREEL

Should ECB Be Worried About Inflation?

13-09-2021

Inflation jumped to 3% in August raising questions about whether the ECB needs to alter its monetary policy. This paper reviews the recent evidence on euro area inflation and concludes the current increase is likely to be temporary, being driven by a rise in energy prices that is likely to end soon and a range of temporary factors relating to the pandemic. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic ...

Inflation jumped to 3% in August raising questions about whether the ECB needs to alter its monetary policy. This paper reviews the recent evidence on euro area inflation and concludes the current increase is likely to be temporary, being driven by a rise in energy prices that is likely to end soon and a range of temporary factors relating to the pandemic. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 27 September 2021.

Extern avdelning

Karl WHELAN

Kommande evenemang

29-09-2021
EPRS online policy roundtable: How will Artificial Intelligence change humanity?
Övrigt -
EPRS
30-09-2021
AIDA public hearing on AI and the data strategy
Utfrågning -
AIDA
30-09-2021
The risks and benefits of technology in the tax area
Seminarium -
FISC

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