by Marc Beckmann | Dec 9, 2021
In its new strategy, the ECB decided that housing costs should be better reflected in the inflation index. However, this won’t address citizens’ concerns. If there is anything the ECB can do about the rise in housing costs, it is to change the way it conducts its monetary policy.
by Positive Money Europe | Nov 29, 2021
A new study finds that ECB’s monetary policy affects the wage share of companies and thereby the distribution of income between workers and shareholders. Given that these effects differ by firm characteristics, monetary policy has uneven effects across the euro area. To tackle this, more targeted monetary policy tools should be developed.
by Marc Beckmann | Nov 23, 2021
A recording of Positive Money Europe’s new webinar on the ECB’s neglected secondary mandate is now available online.
by Marie Storli | Nov 12, 2020
The pandemic and current economic crisis exacerbate economic inequality by disproportionately burdening individuals on the lower part of the income distribution. The ECB’s asset purchases have further fueled this trend. It is time the ECB took these distributional effects into account when designing policies and instruments.
by Positive Money Europe | May 24, 2017
Central banks should be concerned about the inequality effect of their own policies such as quantitative easing.
by Stanislas Jourdan | Apr 27, 2017
In its annual report, the European Central Bank has proved that its quantitative easing programme increased the wealth of the richest.