The ECB’s Transmission Protection Instrument and Fiscal Stability

Autor:	Katrin Assenmacher
Rok vydání:	2023
Předmět:	General Economics Econometrics and Finance General Business Management and Accounting
Zdroj:	The Economists’ Voice.
ISSN:	1553-3832 2194-6167
DOI:	10.1515/ev-2023-0016
Popis:	The ECB’s Transmission Protection Instrument (TPI) supports the effective transmission of the monetary policy stance throughout the euro area, which is a precondition for the ECB to deliver on its price stability mandate. If activated, the Eurosystem would purchase securities issued in jurisdictions that experience a deterioration in financing conditions not warranted by country-specific fundamentals. The TPI thereby complements other tools to counter risks to the transmission mechanism such as the Pandemic Emergency Purchase Programme (PEPP) reinvestment flexibility and the Outright Monetary Transactions (OMT) programme.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::15a389bd560623e11c9ca1d84ad6ee98 https://doi.org/10.1515/ev-2023-0016 Zobrazit plný text záznamu