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Digital Euro: When in doubt, abstain b(but be prepared)

Abstract This paper assesses the state of preparation for the possible launch of a digital euro. It focuses on the main relevant aspects: market impact, implications for banks, design and technical issues, monetary policy,...

This paper presents SME financing gaps across European countries over the period 2013 to 2020, using two different methodologies, one reliant on firm balance sheets and one on firm-level surveys.
We show significant variation in financing gaps across countries and sectors. Variation over time, on the other hand, is not as strong or intuitive. The account- and survey-based measures are only weakly correlated with each other, reflecting their different nature, and both are only weakly correlated with a survey-based measure of self-reported firm financing constraints.

This paper was commissioned by the Evaluations Division of the European Investment Bank (EIB) as a background study with the purpose of supporting its work programme, and in particular its
evaluations of the EIB’s support to SMEs and mid-caps. The views expressed in this report are those of the authors, and do not necessarily reflect the position of the EIB or its Evaluation Division

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