Monetary mechanism of EU economy development
Abstract
Keywords
References
Barkbu, B., Pelin Berkmen, S., Lukyantsau, P., Saksonovs, S. & Schoelermann, H. (2015). Investment in the Euro Area: Why Has It Been Weak? IMF Working Paper, European Department, WP/15/32. Retrieved from www.imf.org/external/pubs/ft/wp/2015/wp1532.pdf.
BBC News (2013). Eurozone inflation falls to lowest rate in three years. Retrieved from http://www.bbc.com/news/business-24328356.
Black, S. (2014). Draghi Takes ECB Deposit Rate Negative in Historic Move. Retrieved from http://www.bloomberg.com/news/2014-06-05/draghi-takes-ecb-deposit-rate-negative-in-historic-move.html.
Bloomberg.com (2015). Euro-Area Economy Set to Gather Pace as New Orders Fuel Hiring. Retrieved from http://www.bloomberg.com/news/articles/2015-04-07/euro-area-economy-set-to-gather-pace-as-new-orders-fuel-hiring.
Bongiovanni, F. M. (2012). The Decline and Fall of Europe. London, Palgrave Macmillan.
Deutsche Bundesbank (2014). Targeted longer-term refinancing operations (TLTROs). Retrieved from http://www.bundesbank.de/Redaktion/EN/Dossier/Tasks/targeted_longer_term_refinancing_operations.html.
CESifo Group Munich (2014). Ifo Business Climate Index Continues to Fall. Retrieved from http://www.cesifo-group.de/ifoHome/facts/Survey-Results/Business-Climate/Geschaeftsklima-Archiv/2014/Geschaeftsklima-20141027.html.
Сountryeconomy.com. (2015). Germany GDP - Gross Domestic Product 2015. Retrieved from http://countryeconomy.com/gdp/germany.
Deutsche Welle (2014). Eurozone public debt surges. Retrieved from http://www.dw.de/eurozone-public-debt-surges/a-17800011.
Draghi, M. (2013). Euro area economic situation and the foundations for growth. Presentation by President of the European Central Bank at the Euro Summit, Brussels, 14 March 2013. Retrieved from http://www.ecb.europa.eu/press/key/date/2013/html/sp130315.en.pdf?25cf880dcdaf228e746e3d5746fd2afc.
Draghi, M. (2014). ECB: Introductory statement to the press conference (with Q&A). Retrived from http://www.ecb.europa.eu/press/pressconf/2014/html/is141002.en.html.
European Banking Authority (2014) About us. Retrieved from http://www.eba.europa.eu/about-us;jsessionid=DD01D9F6D2AD322D110A7B7E5B14248E.
European Commission (2014). Economic and Monetary Union Retrieved from http://ec.europa.eu/economy_finance/euro/emu/index_en.htm.
European Commission. Eurostat (2015). Annual inflation down to -0.2% in the euro area. Retrieved from http://ec.europa.eu/eurostat/documents/2995521/6483802/2-16012015-AP-EN.pdf/b69dcfc9-4b9e-495a-b25b-84d93356b61a.
European Commission. Eurostat (2015). Euro area unemployment rate at 11.4%. Retrieved from http://ec.europa.eu/eurostat/documents/2995521/6581668/3-30012015-AP-EN.pdf/9d4fbadd-d7ae-48f8-b071-672f3c4767dd.
Eurostat (2015). Eurostat - Tables, Graphs and Maps Interface (TGM) table. Real GDP growth rate - volume. Percentage change on previous year. Retrieved from http://ec.europa.eu/eurostat/tgm/refreshTableAction.do?tab=table&plugin=1&pcode=tec00115&language=en.
European Commission (2015). Stability and Growth Pact. Retrieved from http://ec.europa.eu/economy_finance/economic_governance/sgp/in-dex_en.htm.
European Commission (2015). Banking union. Retrieved from http://ec.europa.eu/finance/general-policy/banking-union/index_en.htm.
Eurostat Statistics Explained (2015). Euro area annual inflation and its main components. Retrieved from http://ec.europa.eu/eurostat/statistics-explained/index.php/File:Euro_area_annual_inflation_and_its_ma-in_components_(%25),_2015,_March_2014_and_October_2014-_March_2015-p_rev2.png.
ECB (2014) Key ECB interest rates. Retrieved from https://www.ecb.europa.eu/stats/monetary/rates/html/index.en.html.
ECB (2014). Monetary policy decisions. Retrieved from http://www.ecb.europa.eu/press/pr/date/2013/html/pr130502.en.html.
ECB (2014). Monetary Policy. Retrieved from https://www.ecb.europa.eu/mopo/html/index.en.html.
ECB (2015). Euro area bank interest rate statistics: November 2014. Press release 8 January 2015. Retrieved from http://www.ecb.europa.eu/press/pdf/mfi/mir1501.pdf.
ECB (2015). Euro area economic outlook, the ECB’s monetary policy and current policy challenges. Statement by Mario Draghi, President of the ECB, prepared for the thirty-first meeting of the International Monetary and Financial Committee, Washington DC, 17 April 2015 Retrieved from https://www.ecb.europa.eu/press/key/date/2015/html/sp150417.en.html.
European Stability Mechanism (2014). European Financial Stability Facility (EFSF). Retrieved from http://www.efsf.europa.eu/about/index.htm.
Eurostat Statistics Explained (2013). Unemployment rate, 2003-13 (%) YB15.png. Retrieved from http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/File:Unemployment_rate,_2003-13_(%25)_YB15.png.
Eurostat Statistics Explained (2014). First population estimates. Retrieved from http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-10072014-BP/EN/3-10072014-BP-EN.PDF.
Erik, J. (2012) Preface. In Jones, E., Menon, A. & Weatherill, S. The Oxford Handbook of the European Union. Oxford: Oxford University Press.
European Stability Mechanism (2015). Retrieved from http://www.esm.europa.eu.
Eurostat (2015). Euro area government debt up to 92.2% of GDP. Retrieved from http://static.rasset.ie/documents/business/debttogdpeurostat.pdf.
UER-Lesx. Access to European Union Law (2014). Resolution of the European Council on the Stability and Growth Pact. Amsterdam, 17 June 1997. Official Journal C 236, 02/08/1997, 0001-0002. Retrieved from http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CE-LEX:31997Y0802(01):EN:HTML
European Central Bank (2014). The Euro Area Bank Lending Survey. 4th quarter of 2013. Frankfurt am Main, Germany, European Central Bank.
European Central Bank (2014). The Euro Area Bank Lending Survey. 2nd Quarter of 2014. Frankfurt am Main, Germany: European Central Bank.
European Central Bank (2015). The Euro Area Bank Lending Survey. 4th quarter of 2014, Frankfurt am Main, Germany, European Central Bank.
European Council. Council of the Eeuropa Union (2012). Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. Retrieved from http://www.european-council.europa.eu/media/579087/treaty.pdf.
Eurostat (2012). GDP per capita in the Member States ranged from 45 % to 274 % of the EU27 average in 2011. Retrieved from http://europa.eu/rapid/press-release_STAT-12-97_en.pdf.
FocusEconomics. Economic Forecasts from the World's Leading Economists. (2015). Economics Snapshot for the Euro Area. Retrieved from http://www.focus-economics.com/regions/euro-area.
FocusEconomics. Economic Forecasts from the World's Leading Economists (2014). Economics Snapshot for the Euro Area. Retrieved from http://www.focus-economics.com/regions/euro-area.
Lars, K. (2015). Poor Europe: what future awaits the EU. Retrieved from http://www.forbes.ru/mneniya-column/krizis/238468-nishchaya-evropa-kakoe-budushchee-ozhidaet-es [in Russian].
Forexfraud.com (2015). ECB Policy - Understanding the European Central Bank. Retrieved from http://www.forexfraud.com/forex-articles/ecb-policy-european-central-bank.html.
Vector securities (2014). The soft monetary policy of the ECB finally gave an effect in the real sector, but the recovery is still fragile - Draghi. Retrieved from http://icvector.com/ru/news/myagkaya-monetarnaya-politika-ecb-nakonec-dala-effekt-v-realnom-sektore-no-vosstanovlenie-poka-hrupkoe-dragi [in Russian].
Institut der deutschen Wirtschaft Köln (2013). Industry as a growth engine in the global economy. Final Report. Cologne, IW Consult GmbH, IW Köln.
World economic outlook. Russian (2010). Prospects for the development of the world economy. Rise, risk and rebalancing. Washington DC, International Monetary Fund [in Russian].
Euro Area Policies: Selected Issues (2014). IMF Country Report, 14/199.
Euro Area Policies: Selected Issues (2014). IMF Country Report, 14/198.
Kennedy, S. (2014). Euro Economy’s Managers Aren’t Blinking in Market Rout. Retrieved from http://www.bloomberg.com/news/2014-10-16/euro-economy-s-managers-aren-t-blinking-in-market-rout.html.
Krugman, P. (2015). Euro Zone Death Trip. Retrieved from http://www.nytimes.com/2011/09/26/opinion/euro-zone-death-trip.html?_r=0.
Lawler, J. (2014). Federal Reserve officially ends quantitative easing program. Retrieved from http://www.washingtonexaminer.com/federal-reserve-officially-ends-quantitative-easing-program/article/2555433.
Maatouk, M. (2010). European Markets Surge. Retrieved from http://www.wsj.com/articles/SB10001424052748703880304575235462819341480.
Martinez, D. (2014). La paradoja de Europa: Paro elevado, pero millones vacantes. Retrieved from http://www.lavanguardia.com/economia/20130615/54375667171/la-paradoja-de-europa-paro-elevado-millones-vacantes.html.
Mongelli, F. P. (2013). The mutating euro area crisis is the balance between “sceptics” and “advocates” shifting? European Central Bank, Occasional Paper Series, 144, February.
Poirson, H. & Weber, S. (2011). Growth Spillover Dynamics from Crisis to Recovery. International Monetary Fund, IMF Working Paper WP/11/218.
RBK (2013). Head of the ECB: OMT program played a key role in stabilizing financial markets. Retrieved from http://quote.rbc.ru/person/2013/06/26/33975387.html.
KITFinans Broker (2013). Interest rates of the ECB and the euro. Retrieved from http://www.rcb.ru/data/analytics/07_05_13%20Kit%20finance%20ECB%20rates%20euro.pdf.
Risk, H. (2014). EFSF inaugural bond meets record demand. Retrieved from http://www.euromoney.com/Article/2755784/EFSF-inaugural-bond-meets-record-demand.html.
Roland, B., Jakubik, P. & Piloiu, A. (2013). Non-performing loans. What matters in addition to the economic cycle? ECB Working Paper Series, 1515, February.
Reuters. Russia and CIS countries (2014). The ECB launches new LTROs, discusses the purchase of ABS, is ready for other measures. Retrieved from http://ru.reuters.com/article/idRUL6N0OM3LR20140605 [in Russian].
Smaghi, L.-B. (2009). Conventional and unconventional monetary policy. Keynote lecture at the International Center for
Monetary and Banking Studies (ICMB). Retrieved from http://www.bis.org/review/r090429e.pdf.
Spiegel, P. (2014). Progress report: European Union’s move to banking union. Retrieved from http://www.ft.com/cms/s/0/a6e53a4a-dd96-11e2-892b-00144feab7de.html#axzz3HoHgZKyv.
Statista (2015). Gross domestic product (GDP) growth in EU and Euro area 2014. Retrieved from http://www.statista.com/statistics/267898/gross-domestic-product-gdp-growth-in-eu-and-euro-area/.
Stephens, B. (2011). What Comes After “Europe”? Retrieved from http://www.wsj.com/articles/SB10001424053111904106704576580522348961298.
STOXX. Innovative. Global. Indices (2014). EURO STOXX 50®. Retrieved from http://www.stoxx.com/indices/index_information.html?symbol=sx5e.
STOXX. Innovative. Global. Indices (2014). STOXX® Europe 600. Retrieved from http://www.stoxx.com/indices/index_information.html?symbol=SXXP.
Teja, R. (2012). 2012 Spillover report. Retrieved from https://www.imf.org/external/np/pp/eng/2012/071012.pdf.
Bank of England, European Central Bank (2014). The case for a better functioning securitisation market in the European Union. A Discussion Paper. The Bank of England and the European Central Bank.
Kravchenko, E. (2015). IMF asks to increase anti-crisis fund. Retrieve from http://www.vedomosti.ru/finance/articles/2012/01/24/prizrak_velikoj_depressii [in Russian].
The World Bank (2014). Cloudy Outlook for Growth in Emerging Europe and Central Asia. Retrieved from http://www.worldbank.org/en/news/press-release/2014/10/08/cloudy-outlook-for-growth-in-emerging-europe-and-central-asia.
Arrighi, J. (2006). Long twentieth century: Money, power and the origins of our time. Moscow, Izdatelskiy dom “Territorriya budushchego”. [in Russian].
Weber, M. (1990). Protestant ethics and the spirit of capitalism. In Selected Works [pp. 44-271]. Moscow, Progress [in Russian].
Dadush, U. (Ed.), Aleksashenko, S., Ali, Sh. & Eidelman, V. (2015). The euro crisis or the lost paradigm. Retrieved from http://carnegieendowment.org/files/Carnegie_Euro_Crisis_rus1.pdf [in Russian].
Dynkin, A. A. (Ed.). 2010. The crisis in the euro area: causes and consequences for the Euro-Atlantic region. Report to the Commission of the Euro-Atlantic Security Initiative (EASI). Moscow, IMEMO RAS [in Russian].
Kuznetsov, A. V. & Khesin, E. S. (Eds.). (2013). The economy of the EU countries after the introduction of the euro: from the euphoria of 1999 to the debt crisis of the 2010s. Moscow, IMEMO RAS [in Russian].
Koroleva, A. (2014). Between the recession and the crisis. Retrieved from http://expert.ru/2014/10/24/retsessiya-ili-krizis [in Russian].
Malashenkova, O. F. & Markvarde, A. Yu. (2014). Modern trends in the development of the eurozone: the European debt crisis of 2013 and its implications for the global economy. Zhurnal mezhdunarodnogo prava i mezhdunarodnykh otnosheniy, 2, 80-85 [in Russian].
Manukov, S. (2015). Weak euro in Berlin's hand. Retrieved from http://expert.ru/2015/04/17/slabyij-evro-na-ruku-berlinu [in Russian].
Nekipelov, A. & Golovnin. M. (2010). The Strategy and Tactics of Monetary Policy in the Conditions of the World Economic Crisis. Voprosy ekonomiki, 1, 4-20 [in Russian].
Panov, V. (2013). The eurozone scrambled out of the recession. How long? Retrieved from http://www.km.ru/economics/2013/09/04/dolgovoi-krizis-v-evrope/719867-evrozona-vykarabkalas-iz-retsessii-nadolgo-li [in Russian].
Patron, P. A. (2012). Eurozone debt crisis: reasons and ways to overcome. Vestnik Moskovskogo universiteta. Ser. 6. Ekonomika, 5, 45-66 [in Russian].
Podkolzina, I. A. (2010). Anti-recessionary policy of monetary authorities of the euro area. Deng ii kredit, 10, 51-60 [in Russian].
Potapova, I. (2012). The debt crisis in the EU. Mirovoe i natsionalnoe khozyaystvo, 1(20). Retrieved from http://www.mirec.ru/2012-01/dolgovoi-krizis-es [in Russian].
RBK (2013). Dragi M .: The HTA program helped stabilize financial markets. Retrieved from http://top.rbc.ru/economics/26/06/2013/863488.shtml [in Russian].
Ratnikov, A. (2015). The ECB launched a quantitative easing program for € 1.1 trillion. Retrieved from http://top.rbc.ru/finances/22/01/2015/54c0fd9a9a7947a4affe7c6c [in Ruissian].
Sapir, Zh. (2011). Eurozone crisis and the euro's outlook. Problemy prognozirovaniya, 3, 3-18 [in Russian].
Slepov, V. A. & Lartsev, M. I. (2010). Dynamics of monetary policy of developed countries, Finansovyi vestnik, 1, 23-29 [in Russian].
Kont, V. (2014). Mario Draghi's speech: the ECB's quantitative easing program is approved and will last until 2016. Retrieved from http://fortrader.ru/forex-news/press-konferenciya-mario-dragi-prinyato-reshenie-kasatelno-programmy-zakupki-obespechennyx-aktivami-cennyx-bumag-i-novoj-programmy-zakupki-obespechennyx-obligacij.html [in Russian].
Huntington, S. (2003). The Clash of Civilizations. Мoscow: ООО “Izdatelstvo AST”. [in Russian].
Shagardin, D. (2013). ECB and the new course of monetary policy. Pt. 1. Retrieved from http://d-shagardin.livejournal.com/91003.html [in Russian].
Shagardin, D. (2013). ECB: do I have to wait for the rates to fall? Retrieved from http://d-shagardin.livejournal.com/89741.html [in Russian].
DataBank (2015). GDP (current US$). Retrieved from http://databank.worldbank.org/data/views/reports/tableview.aspx?isshared=true.
ECB (2015). Euro area economic and financial data. Retrieved from https://www.ecb.europa.eu/stats/keyind/html/sdds.en.html.
International Monetary Fund (2014). World Economic Outlook. Recovery Strengthens, Remains Uneven. Retrieved from http://www.imf.org/external/pubs/ft/weo/2014/01/pdf/text.pdf.
Eurostat Statistic Explained (2015). Employment statistics. Retrieved from http://ec.europa.eu/eurostat/statistics-explained/index.php/Employment_statistics.
Eurostat Statistic Explained (2015). Structure of government debt. Retrieved from http://ec.europa.eu/eurostat/statistics-explained/index.php/Structure_of_government_debt.
DOI: https://doi.org/10.15407/econindustry2015.02.033
Refbacks
- There are currently no refbacks.