Politica monetaria
Boris Hofmann, Aaron Mehrotra and Jan Paulick, “Dollarisation and monetary control: what lessons for the rise of stablecoins?”
Bank for International Settlements, Working paper n° 1370
Posted in: Articolo
Lug
31
2026
Abstract: The emergence of stablecoins has created a new channel to access US dollar liquidity in emerging market and developing economies (EMDEs), similar to the historical role of foreign currency deposits, or “deposit dollarisation”. This has raised concerns about the possible implications for monetary control ...more »
Tagged width: banking, capital markets, fintech, politica monetaria
Eoghan O’Neill and Sofia Velasco, “Let the tree decide: FABART. A non-parametric factor model for nonlinear oil shock transmission”
European Central Bank, Working paper n° 3265
Posted in: Articolo
Lug
31
2026
Abstract: The question of how oil supply news shocks transmit to real activity, financial conditions, and regional labor markets is back at the center of the macroeconomic research agenda. To answer this question, we introduce the Factor Bayesian Additive Regression Tree (FABART) model, a nonlinear ...more »
Tagged width: capital markets, ecb, politica monetaria
Tatjana Dahlhaus, Malik Shukayev, and Alexander Ueberfeld, “Balancing Act: Monetary Policy Responses to Natural Disasters”
Bank of Canada, Working paper n° 2026-28
Posted in: Articolo
Lug
31
2026
Abstract: Natural disasters pose complex challenges for monetary policy in resource-rich small open economies. Using an open-economy dynamic stochastic general equilibrium model calibrated to Canada, we embed stochastic disaster shocks affecting capital, productivity, and the commodity sector. Drawing on detailed historical data, we quantify disaster-specific ...more »
Tagged width: capital markets, politica monetaria
Sami Alpanda and Serdar Kabaca, “Portfolio Rebalancing Channel and the Effects of Large-Scale Stock and Bond Purchases”
Bank of Canada, Working paper n° 2025-38
Posted in: Articolo
Feb
26
2026
Abstract: We quantify the effects of large-scale stock purchases by a central bank and compare these to bond purchases, using an estimated dynamic stochastic general equilibrium macro-finance model with nominal and real rigidities and portfolio rebalancing effects. The latter arise from imperfect substitutability between stocks ...more »
Tagged width: banking, capital markets, politica monetaria
Sandra Batten and Stephen Millard, “Productivity implications of the move to net zero”
Bank of England, Working Paper n° 1171
Posted in: Articolo
Feb
26
2026
Abstract: In this paper, we use a dynamic general equilibrium model to examine the effect of the move to net zero in the United Kingdom on productivity. One argument is that the transition is likely to be productivity-reducing, as it will involve a move from ...more »
Tagged width: capital markets, politica monetaria
Pablo Garcia, Pascal Jacquinot, Črt Lenarčič, Kostas Mavromatis, Niki Papadopoulou and Edgar Silgado-Gómez, “GREEN TRANSITION IN THE EURO AREA: DOMESTIC AND GLOBAL FACTORS”
BANCO DE ESPAÑA, Working paper n° 2537
Posted in: Articolo
Gen
29
2026
Abstract: We explore the macroeconomic effects of climate policies promoting the green energy transition in the euro area using an extended version of the Euro Area and Global Economy (EAGLE) model. The model differentiates between brown and green energy sectors and incorporates carbon taxes and ...more »
Tagged width: capital markets, eurozone, politica monetaria
Towards a new Eurosystem balance sheet
Posted in: News
Nov
07
2025
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the ECB Conference on Money Markets 2025 https://www.ecb.europa.eu/press/key/date/2025/html/ecb.sp251106~1133f93311.en.html
Tagged width: ecb, politica monetaria
Monetary policy decisions
Posted in: News
Ott
31
2025
The Governing Council today decided to keep the three key ECB interest rates unchanged. Inflation remains close to the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged. The economy has continued to grow despite the challenging global environment. ...more »
Tagged width: ecb, eurozone, politica monetaria
Ott
18
2025
La Banca d’Italia diffonde le proiezioni macroeconomiche per l’Italia nel triennio 2025-27. Le proiezioni sono elaborate dagli esperti della Banca d’Italia e sono basate sulle informazioni disponibili al 10 ottobre… https://www.bancaditalia.it/media/notizia/proiezioni-macroeconomiche-per-l-italia-ottobre-2025/?com.dotmarketing.htmlpage.language=102
Tagged width: banking, politica monetaria
PRESS CONFERENCE
Posted in: News
Set
13
2025
Christine Lagarde, President of the ECB,Luis de Guindos, Vice-President of the ECB Frankfurt am Main, 11 September 2025 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is250911~a13675b834.en.html
Tagged width: ecb, politica monetaria
