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Current estimates of AI's impact on productivity and economic growth vary widely, but there is a general agreement that its benefits will be unevenly distributed across countries, industry sectors, and societies. The AI value chain—from raw materials for semiconductors to data availability, computing power, and investment capacity—is concentrated mainly in the United States (US) and China, posing risks of dependency and instability for Europe.
Yana Djoneva is Chief Operating Officer and a Member of the ESM's Management Board. She is responsible for the Business Strategy and Project Management division, as well as the Information Technology and Facilities Management division.
Title: Financial imbalances and macroeconomic tail risks: A structural regime-switching investigation
Summary: This paper examines how excessive credit growth and asset price overvaluation increase the likelihood of financial crises and deepen associated economic downturns, and assesses the implications for monetary and macroprudential policies.
The European Stability Mechanism (ESM) will launch 6-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.1 billion is envisaged.
Time schedule of the auction procedure:
Date of invitation to bid: Monday, 18 November 2024
Bidding period: Tuesday, 19 November 2024, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 21 November 2024
Mr Andreas Zachariades is Permanent Secretary at the Ministry of Finance of Cyprus.
Andreas Zachariades was born in Nicosia in 1967.
He graduated from the English School in Nicosia in 1986 and studied Economics and Accounting at the University of Southampton, graduating in 1991.
Link to register:
https://the-economist-impact-events.idloom.events/20th-annual-cyprus-summit
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The panel discussion will be hosted by the German Climate Pavilion
Contingent on a supportive environment, private financial institutions could facilitate as much as $3.5 trillion of annual financing between 2022 and 2050 to drive the climate transition. Embedding climate into the broader agenda and priorities of financial institutions will be critical to realizing this potential. Integrating climate into the way you work can range from developing detailed transition plans, to setting and disclosing net-zero commitments/targets, to incorporating climate risk in your risk management framework and defining more deliberate sustainable investment strategies.
Title: Dangerous liaisons? Debt supply and convenience yield spillovers in the euro area
Summary: This paper documents spillover effects of sovereign debt issuance among euro area countries’ convenience yields, establishing a new source of fiscal spillovers in the euro area