Dutch senate: comments on the Five Presidents’ report
I gave a parliamentary testimony to the Dutch senate. my ppt is here....
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Cross-border commuters and trips: the relevance of Schengen
Almost 1.7 million Schengen residents were cross-border commuters in 2014. These charts show data on commuting in the Schengen area and intra-EU trips. This post was first published by Bruegel. Many workers rely on the S...
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Have central banks lost their ability to control inflation?
The potential effects of global integration on inflation dynamics, and whether this could affect the ability of central banks to fulfil their mandates. This post was first published on Bruegel. After soaring in th...
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The ECB and politics in an era of low interest rates
This op-ed was originally published in the Handelsblatt, Nikkei Veritas and Nikkei Asian Review and Linkiesta. The ECB is often criticised for its low interest rate policy – especially in Germany, where this is fel...
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Europäische Einlagensicherung: Deutschland würde profitieren
Wer ernsthaft die Bankenunion will, kommt um die EU-weite Sicherung der Sparguthaben nicht herum. Es braucht Obergrenzen, wie viele Staatsanleihen Banken halten sollen. This article was originally published in Die Zeit, ...
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Is globalisation reducing the ability of central banks to control inflation?
After soaring in the 1970s, inflation in Organisation of Economic Cooperation and Development countries stabilised, coming down from 9 percent on average in the early 1980s to about 2 percent in the years before the cris...
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The growing intergenerational divide in Europe
During the economic and financial crisis, the divide between young and old in the European Union increased in terms of economic well-being and allocation of resources by governments. As youth unemployment and youth pover...
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Schriftliche Stellungnahme Bundestagsanhörung „Niedrigzinspolitik der EZB“
This Policy Contribution was prepared for the Financial Committee of the German Bundestag. It is only available in German. Zusammenfassung Reale Renditen fallen weltweit mindestens seit Anfang der 1980er Jahre, so auch i...
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Inflation expectations and global risks: the need for ECB action
The ECB will have its next monetary decision meeting on Thursday. Instead of following politically motivated statements that complain about low nominal rates, the ECB needs to focus on its mandate: price stability, defin...
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What options for European deposit insurance?
The aim of this blog post is to clarify different options of how to organize European deposit insurance without yet settling on the best option. We aim to explain and to highlight what different options can and cannot ac...
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