Date: 10 December 2018
Type: Parliamentary Hearing
“Euro-area sovereign bond holdings: An update on the impact of quantitative easing“. Since the European Central Bank’s announcement of its quantitative easing (QE) programme in January 2015, national central banks have been buying government and national agency bonds. In this post the authors look at the effect of QE on sectoral holdings of government bonds, updating the calculations published initially in May 2016.
“Global trends in interest rates“. Interest rates are at their lowest levels of the last 150 years in virtually all advanced economies. This column argues that this unprecedented environment reflects secular global forces that have lowered the trend in the world real interest rate by about two percentage points over the past 30 to 40 years.
“Financing bank resolution: An alternative solution for arranging the liquidity required“. This paper proposes an ECB liquidity facility with an Single Resolution Fund (SRF) guarantee as an alternative solution for banks in resolution.
“Machine learning and economics“. Machine learning (ML), together with artificial intelligence (AI), is a hot topic. Economists have been looking into machine learning applications not only to obtain better prediction, but also for policy targeting. We review some of the contributions.
“Political connections, innovation, and firm dynamics“. Corruption, especially rent-seeking behaviour by politicians and firms, has adverse consequences for competition and ultimately growth. This column explores how political connections influence firms’ outcomes in Italy.
“Using big data and artificial intelligence to accelerate global development“. Emerging technologies have transformed three core areas: (i) data collection; (ii) data analysis and (iii) use of data analysis for policymaking. New big data platforms allow researchers to acquire granular details on a number of socioeconomic and environmental indicators.
“Italy’s floods: How the European Union Solidarity Fund can help“. The authors discuss Italy’s potential recourse to disaster relief from the European Union Solidarity Fund in the wake of recent floods, focusing specifically on how much aid Italy might expect and under what terms.
“A more stable EMU does not require a central fiscal capacity“. A central fiscal capacity is a recurring topic in discussions on reform of the Economic and Monetary Union, but no consensus on the usefulness and necessity of a such a capacity has been reached. This column argues that the potential stability benefits of a central fiscal capacity can be achieved through stronger financial market risk sharing and more effective use of fiscal stabilisers, without any additional fiscal risk sharing.
“Sustaining Growth through Innovation in Capital Markets“. Well-functioning, deeper and highly integrated European capital markets are expected to play a greater role in providing alternative corporate funding, better savings/investment opportunities and enhancing private risk-sharing mechanisms.
Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
Good health is essential to social and economical development and it empowers all of the public sectors.
World Health Organization
Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.