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http://bura.brunel.ac.uk/handle/2438/21426| Title: | Policy options and risks of an extension of the ECB’s quantitative easing programme: An analysis |
| Authors: | Macchiarelli, C Gerba, E |
| Keywords: | central bank;economic policy;euro area;European Central Bank;European System of Central Banks;financial institution;monetary policy |
| Issue Date: | Feb-2016 |
| Publisher: | European Union |
| Citation: | Macchiarelli, C. and Gerba, E. (2016) 'Policy options and risks of an extension of the ECB’s quantitative easing programme: An analysis', in European Parliament. Directorate-General for Internal Policies of the Union. Policy Department A. Economic and Scientific Policy. Limits in terms of eligible collateral and policy risks of an extension of the ECB’s quantitative easing programme : Monetary dialogue 15 February 2016 : compilation of notes, pp. 49 - 70. Available at: https://www.europarl.europa.eu/cmsdata/105470/IPOL_IDA(2016)569994_EN.pdf. |
| Series/Report no.: | Monetary dialogue;15 February 2016 : compilation of notes European Union. Directorate-General for Internal Policies of the Union. Policy Department A. Economic and Scientific Policy;P/A/ECON/2016-01 European Parliament. Committee on Economic and Monetary Affairs;PE 569.994 |
| Abstract: | During the press conference on 3 December 2015, president Mario Draghi reiterated the readiness of the ECB to adopt additional measures in order to maintain an appropriate degree of monetary accommodation. Different options are available, including the increase in the amount of monthly purchases of assets, currently set at 60 billion EUR per month. However, there are risks involved in extending these asset purchase operations, including the renewed criticism against the ECB for not complying with its mandate and entering the fiscal financing territory. This paper reviews the available unconventional monetary policy options for the ECB and considers the potential risks involved with each. It also briefly discusses key credibility issues that ECB might eventually face. |
| Description: | This document was requested by the European Parliament's Committee on Economic and Monetary Affairs. |
| Gov't Doc #: | P/A/ECON/2016-01 PE 569.994 |
| URI: | https://bura.brunel.ac.uk/handle/2438/21426 |
| ISBN: | 978-92-823-9268-3 978-92-823-9269-0 |
| Other Identifiers: | P/A/ECON/2016-01 P/A/ECON/2016-01 |
| Appears in Collections: | Economics and Finance Dept of Economics and Finance Research Papers |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| FullText.pdf | 2.99 MB | Adobe PDF | View/Open |
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