Program: Monetary

The Transition to a Sustainable Post-COVID Economy Requires an Urgent Shift in Central Bank Risk Management

| 10 July 2020
Blog, Monetary | Tags: Central Banks, Climate risk, Covid-19, Financial Regulation, Monetary Policy Operations, Precautionary principle
The COVID-19 crisis is profoundly and durably transforming our economies. So will the transition to a low-carbon economy, which is necessary to contain the environmental crisis ahead of us. Shifting our economic system from its current state to a sustainable post-COVID version entails large and ... continue reading

The Day After Tomorrow. Designing COVID-19 Bailouts for a Sustainable Recovery

| 4 May 2020
Blog, Fiscal, Monetary | Tags: Bailouts, Climate Change, Covid-19, Employment, Inequality
Governments around the world are taking extraordinary measures to mitigate the economic fallout of COVID-19. Their decisions in the weeks and months ahead will shape our lives for years to come. The fiscal packages that are being adopted as well as the funding that central ... continue reading

Is the United States Reneging on International Financial Standards?

| 20 April 2020
Blog, Monetary | Tags: Covid-19, Debt, Federal Reserve, Financial Regulation
The financial shock surrounding the COVID-19 pandemic has prompted the Federal Reserve to temporarily loosen an important capital-to-asset ratio requirement for US banks. In so doing, it is walking away from a decade-long commitment to global financial reforms forged in the wake of the global ... continue reading

Argentina. A Short Blanket for the Coronavirus Long Night

and | 3 April 2020
Blog, Fiscal, Monetary | Tags: Central Banks, Covid-19, Fiscal Space, Health, Inflation, Informality
The coronavirus has arrived, and Argentina has played its cards. First life, then the economy. While it is non-debatable that the consequences of the pandemic will be enormous throughout the world, the magnitude of the impact is still uncertain. Argentina is a special case on three ... continue reading

The ECB Response to COVID-19

| 27 March 2020
Blog, Monetary | Tags: Asset Purchases, Covid-19, European Central Bank, Helicopter Money, Targeted Refinancing Lines
Since the outbreak of the COVID-19 crisis, the European Central Bank (ECB) committed to inject an additional 870 billion euro – about 7% of the euro area’s GDP – into financial markets to address the significant challenge the pandemic poses to the economy. Through its ... continue reading