European Parliament Economic and Monetary Affairs: Documents

Briefing - Evaluation of certain elements of the Short Selling Regulation - PE 606.787 - Committee on Economic and Monetary Affairs 22-02-2018 12:00 AM CET This briefing has been drawn up to support ECON's work on the scrutiny of delegated acts, in particular as regards the discussion of 22 February 2018 on the evaluation of certain elements of the Short Selling Regulation (EU) No 236/2012 (SSR ). Source : © European Union, 2018 - EP In-Depth Analysis - Economic recovery and inflation - PE 614.213 - Committee on Economic and Monetary Affairs 15-02-2018 12:00 AM CET In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed—in particular, the new financial regulations (which led to a deep decline in the money multiplier). However, there are numerous signs in both the real and financial spheres that these pressures are disappearing. The largest advanced economies are growing up to their potential, unemployment is systematically decreasing, the financial sector is more eager to lend, and its clients—to borrow. Rapidly growing asset prices signal the possibility of similar developments in other segments of the economy. In this new macroeconomic environment, central banks should cease unconventional monetary policies and prepare themselves to head off potential inflationary pressures. Source : © European Union, 2018 - EP In-Depth Analysis - Persistent low inflation in the euro area: Mismeasurement rather than a cause for concern? - PE 614.214 - Committee on Economic and Monetary Affairs 15-02-2018 12:00 AM CET The huge literature on the causes of the persistent weakness in inflation in the euro area has not identified one single key factor. Moreover, inflation has also been lower than expected in many advanced countries. Low inflation expectations seem to have played an important role in reducing wage demand, both in the US and the euro area; but a residual output gap also contributes. The concerns about low inflation seem overblown. The HICP (Harmonized Index of Consumer Prices) used to measure inflation in the euro area differs from the indices used in most advanced countries in that it does not account for the cost of owner occupied housing. This omission has a considerable impact on measured inflation and can explain most of the difference between inflation in the US and in the euro area. If the HICP were to incorporate the available estimates of inflation in owner occupied housing, measured inflation would be close to 2 %. Source : © European Union, 2018 - EP In-Depth Analysis - Brexit, financial stability and the supervision of clearing systems - PE 614.215 - Committee on Economic and Monetary Affairs 15-02-2018 12:00 AM CET This paper examines the evolution of the supervisory framework of third-country CCPs in the EU making special reference to risks associated with the imminent withdrawal of the United Kingdom from the European Union (Brexit). Its key finding is that the proposed reform is in principle in the right direction but there are still challenges ahead and a more comprehensive package of measures will be required to address them. Source : © European Union, 2018 - EP QUESTIONS? STAY CONNECTED  Contact Us |   This email was sent on behalf of the European Parliament · Bât. Altiero Spinelli · 60 rue Wiertz / Wiertzstraat 60 · B-1047 - Bruxelles/Brussels  · Belgium · Phone: +32(0)2 28 42111