An ever so fragile recovery
By the Department of Analysis and Forecasting, under the direction of Eric Heyer and Xavier Timbeau This text summarizes the OFCE’s economic forecast for 2015-2017 for the […]
monetary policy
The redistributive effects of the ECB’s QE programme
By Christophe Blot, Jérôme Creel, Paul Hubert, Fabien Labondance and Xavier Ragot Rising inequality in income and wealth has become a key issue in discussions […]
Does Price Stability entail Financial Stability?
by Paul Hubert and Francesco Saraceno (@fsaraceno) Paul Krugman raises the very important issue of the impact of monetary policy on financial stability. He starts with the well-known […]
The ECB’s quantitative easing exercise: you’re never too young to start
By Christophe Blot, Jérôme Creel, Paul Hubert and Fabien Labondance The ECB decision to launch a quantitative easing (QE) programme was widely anticipated. Indeed, on several occasions in the […]
Rotation of voting on the ECB Governing Council: more than symbolic?
By Sandrine Levasseur Lithuania’s adoption of the euro on 1 January brought the number of euro zone members to nineteen, the threshold at which the […]
The official introduction of the euro in Lithuania: does it really make no difference?
Sandrine Levasseur On 1 January 2015, Lithuania adopted the euro officially, becoming the 19th member of the euro zone. The adoption was in reality formal, […]
Decline of the euro and competitive disinflation: who’s going to gain the most?
By Bruno Ducoudré and Eric Heyer For nearly two years, between mid-2012 and mid-2014, the euro appreciated against the world’s major currencies. Having reached a level […]
Are the macroeconomic forecasts of the central banks better than those of private agents?
By Paul Hubert Private expectations – about inflation, growth and interest rates – are a critical component of most modern macroeconomic models, as they determine […]
Dealing with the ECB’s triple mandate
By Christophe Blot, Jérôme Creel, Paul Hubert and Fabien Labondance The financial crisis has sparked debate about the role of the central banks and monetary […]
What is a weaker euro likely to mean for the French economy?
By Bruno Ducoudré and Eric Heyer Faced with the rising risk of deflation in the euro zone, which has been reinforced since mid-2012 by the continued […]