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You searched for: Content Type Working Paper Remove constraint Content Type: Working Paper Publishing Institution Bruegel Remove constraint Publishing Institution: Bruegel Publication Year within 3 Years Remove constraint Publication Year: within 3 Years Topic Economics Remove constraint Topic: Economics
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  • Author: Yakov Ben-Haim, Maria Demertzis, Jan Willem Van Den End
  • Publication Date: 02-2017
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: This paper applies the info-gap approach to the unconventional monetary policy of the Eurosystem and so takes into account the fundamental uncertainty on inflation shocks and the transmission mechanism. The outcomes show that a more demanding monetary strategy, in terms of lower tolerance for output and inflation gaps, entails less robustness against uncertainty, particularly if financial variables are taken into account. Augmenting the Taylor rule with a financial variable leads to a smaller loss of robustness than taking into account the effect of financial imbalances on the economy. However, in some situations, the augmented model is more robust than the baseline model. A conclusion from our framework is that including financial imbalances in the monetary policy objective does not necessarily increase policy robustness, and may even decrease it
  • Topic: Economics, International Political Economy, International Trade and Finance
  • Political Geography: Europe
  • Author: Georgios Petropoulos
  • Publication Date: 02-2017
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: This Policy Contribution tackles the definition and benefits of collaborative economy, as well as the distinction between professional and non-professional services, recommendations on safety and transparency for users, and the way to approach regulatory concerns.
  • Topic: Development, Economics
  • Political Geography: Global Focus