Latest Documents


30-September-2009

English

The role of transparency in the conduct of monetary policy

In contrast to the once prevailing norm of secrecy and opaqueness, transparency has now become one of the main features characterising the conduct of monetary policy.

30-September-2009

English

Economic Survey of Japan 2009: Financial stability: overcoming the crisis and improving the efficiency of the banking sector

Emergency measures adopted in the wake of the global crisis should be phased out once a recovery is in place, while adopting reforms to address chronic problems in the financial sector and increase efficiency.

21-September-2009

English

Economic Survey of the European Union 2009: Policies to overcome the crisis

The EU economy has experienced a deep economic slump. Ongoing financial reforms and the structural reform agenda must be pursued to make future crises less likely and improve growth prospects.

2-September-2009

English

Economic Survey of Iceland 2009: The financial and economic crisis

Iceland’s main banks, which had pursued risky expansion strategies, failed in the wake of the global financial crisis, plunging the economy into a deep recession. Prudential supervision needs to be improved.

2-September-2009

English

Economic Survey of Iceland 2009: Challenging times for monetary and fiscal policies

Inflation performance has been unsatisfactory. By joining the euro area, Iceland would share the benefits of the ECB’s credibility. Substantial fiscal consolidation is required following the financial crisis.

24-August-2009

English

Is there a case for price-level targeting?

There is a case, but there are also counter-arguments. With sufficient forward-looking behaviour among firms and households, price-level targeting can act as a powerful built-in stabiliser through automatic shifts in inflation expectations.

31-July-2009

English

Economic Survey of Greece 2009: Weathering the international crisis

High public debt leaves virtually no room for fiscal manoeuvre to limit the impact of the crisis in Greece. The close trade and banking links established with the Balkan countries might be a risk in the near future.

30-July-2009

English

Economic Survey of Mexico 2009: Overcoming the financial crisis and the macroeconomic downturn

Despite improved fundamentals, Mexico is hit hard by the financial crisis, being exposed to several simultaneous external shocks. A welcome, but weak, stimulus was passed for 2009, and policy will likely need to be supportive also in 2010.

22-July-2009

English

Financial stability in the United Kingdom: Banking on prudence

This paper reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.

Related Documents

15-July-2009

English

Economic Survey of Russia 2009: Stabilisation and renewed growth: Key challenges

After a decade of rapid growth, Russia has fallen into recession. The near term challenge is to limit the extent of the downturn, while beyond the crisis, a sounder growth model should be put in place.

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