Belgium
Belgian paper studies work of pioneer of regional economics
Robert Triffin was the “architect” of the European Payments Union
EBA does not object to further macro-prudential measures for Belgian banks
The European Banking Authority clears the way for Belgium’s central bank to tighten macro-prudential measures affecting housing exposures; calls for changes in regulatory framework
National Bank of Belgium sees deposit guarantee scheme as ‘missing component’
Central bank says a joint scheme is the ‘missing component’ of banking union, but argues risk-sharing must be accompanied by better risk control
National Bank of Belgium closes scientific library
The National Bank of Belgium will close its research library in Brussels in March; diminished need for the facility due to more widespread access to electronic resources, bank says
Eurozone macro-prudential policy should be ‘streamlined’, says Belgian director
Mathias Dewatripont praises shared responsibility as a ‘clever idea’ at ECB forum, but acknowledges this ‘leads to some complex procedures’
Belgian paper explores link between monetary policy and risk-taking
Model suggests central banks should stabilise the path of the real interest rate more when there is a ‘risk-taking channel’ of monetary policy, to help reduce ‘welfare detrimental fluctuations’
Belgian paper examines ‘crisis-proof’ services
Working paper finds ‘significant’ differences between the elasticity of goods exports and services exports with respect to GDP growth during the crisis
Belgian central bank embraces responsive design with new website
National Bank of Belgium launches new website with cleaner design and upgrades its statistical database, while wider central banking community look to improve online presence
Outgoing Belgian governor takes ECB role
Luc Coene named as one of four ECB representatives on the SSM supervisory board, a role he will start after stepping down as National Bank of Belgium governor next month
Belgian research examines policy response to oil price shocks
To curb the wealth-shifting effect of oil price shocks ‘optimal policy calls for a large but short-lived increase in the real interest rate’
Belgian paper examines impact of unit labour costs on exports
Working paper results imply a 10% increase in unit labour costs leads to drop in exports of between 2% and 4%, based on data from 1999 to 2010
Impact of ECB unconventional policies depends on bank capitalisation, finds Belgian paper
ECB crisis measures have greater impact on GDP growth in countries where banks are well capitalised, researchers find
Belgian review: Common debt will remain ‘taboo’ in Europe
Article published in National Bank of Belgium economic review describes the issuance of common debt as a ‘panacea’ for multiple problems in the eurozone
National Bank of Belgium to close half its remaining branches
Belgian central bank reveals plans to close its branches in Mons and Hasselt in 2016, which are predominantly involved in processing cash
Review finds Belgian CPI still ‘diverges’ from HICP
National Bank of Belgium’s latest economic review analyses the recent changes in the methodology underpinning CPI, and demonstrates why it remains different from HICP
Belgian governor’s term extended, successor named
Luc Coene will serve another year as governor despite reaching retirement age this week; Council of Ministers says he will be succeeded by director Jan Smets in March 2015
National Bank of Belgium sells iconic Antwerp building
Belgium’s central bank has closed its Antwerp branch as part of its ongoing consolidation process, and will now sell the distinctive triangular building
National Bank of Belgium weighs reduction in one and two cent coins
Belgian central bank considers merits of allowing traders to round cash and electronic payments to the nearest five cents in a bid to render one and two cent coins ‘unnecessary’
Belgian paper posits method for robust optimal monetary policy
Working paper suggests way of supplementing optimal monetary policy with elements of a rules-based policy, punishing policy-makers for deviation but not preventing them from exercising discretion
Belgian bank survey reports gloomier outlook
National Bank of Belgium survey finds improved financial market conditions are not feeding into the real economy, as respondents again revise down 2013 growth forecasts
Belgian research examines factors behind exchange rate pass-through
National Bank of Belgium working paper studies why some exporters pass on fluctuations in exchange rates through price adjustments while others do not
IMF paper studies decline in vertical fiscal imbalances
IMF working paper highlights reasons behind the decline in vertical fiscal imbalances in four European countries; says VFIs always come under scrutiny at times of fiscal austerity
Interview: Gerard Hartsink
European Payments Council chairman Gerard Hartsink tells Yusuf Yassin he welcomes the decision to set end-dates for Sepa migration, but says concerns about the regulation, raised in October, remain
Belgium central bank paper reviews effects of trade liberalisation in low-wage countries
National Bank of Belgium study shows low-wage countries experience less movement in labour and output to high-skill-intensity industries as a result of trade liberalisation policies