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Welcome to SUERF - The European Money and Finance Forum

SUERF - The European Money and Finance Forum is an independent, non-profit network association of central banks, supervisors, financial institutions, academic institutions, and financial sector practitioners. It provides a unique forum for information, research, networking and debate on financial and monetary issues, financial regulation and supervision, and monetary policy.


Upcoming Webinars

Negative Interest Rates: Effectiveness and Side Effects – Taking Stock / 06 May, 2021 15:00 - 16:15 CET (UTC+01:00) /

Past webinars

CBDC: State of play, challenges, open issues / 04 Dec, 2020 14:00 - 15:30 CET (UTC+01:00) /

Key takeaways from the ECB’s new Financial Stability Review / 25 Nov, 2020 15:30 - 16:45 CET (UTC+01:00) /

The surge of gold / 01 Oct, 2020 15:00 - 17:30 CET (UTC+01:00) /

Fireside chat: Economic outlook, the ECB’s monetary policy, and financial market implications / 14 Sep, 2020 15:30 - 17:00 CET (UTC+01:00) /

Economic Forecasting during and after corona / 10 Sep, 2020 16:00 - 17:30 CET (UTC+01:00) /

Libra 2.0 – What does it mean for monetary policy and financial stability? / 31 Aug, 2020 16:30 - 17:30 CET (UTC+01:00) /

In the face of an unexpected adversary: The crucial role for central banks / 10 Jul, 2020 10:00 - 11:15 CET (UTC+01:00) /

Radical Uncertainty: Decision-making for an unknowable future - Book presentation and discussion / 02 Jul, 2020 16:00 - 17:00 CET (UTC+01:00) /

A New Vision for Europe’s Capital Markets - Presentation and Discussion of the Final Report of the High Level Forum on the CMU / 29 Jun, 2020 16:00 - 17:15 CET (UTC+01:00) /

The International Role of the Euro: has COVID-19 affected the outlook? / 16 Jun, 2020 16:00 - 17:15 CET (UTC+01:00) /

The Karlsruhe ruling: implications and the way forward? / 03 Jun, 2020 16:00 - 17:00 CET (UTC+01:00) /

Key takeaways from the ECB’s new Financial Stability Review / 28 May, 2020 16:00 - 17:00 CET (UTC+01:00) /

Uncertainty Is Not an Excuse. Integrating Climate Risks into Monetary Policy Operations and Financial Supervision / Julia Anna Bingler, Chiara Colesanti Senni, Pierre Monnin

CESEE’s Macroprudential Policy Response to Covid-19 / Markus Eller, Reiner Martin, Lukas Vashold

The impact of Covid-19 on global value chains / Heli Simola

Crisis management of credit institutions: Senior unsecured creditors must prepare for bail-in / Christine Sif Larsen, Anne Dyrberg Rommer

Banking union - achievements and challenges / Luis de Guindos

The challenges to the banking sector a year after the outbreak of the COVID-19 pandemic / Pablo Hernández de Cos

How do central banks use big data and machine learning? / Sebastian Doerr, Leonardo Gambacorta, Jose Maria Serena

Unconventional monetary policies and expectations on economic variables / Alessio Anzuini, Luca Rossi

EMU deepening and sovereign debt spreads: using political space to achieve policy space / Iván Kataryniuk, Víctor Mora-Bajén, Javier J. Pérez

Immovable property: where, why and how should it be taxed? / Doris Prammer

Shaken but not deterred: business confidence and Covid-19 in the Euro area / Gene Ambrocio

The role of fiscal policies in the Covid-19 crisis: scope and limitations / Niels Thygesen

The way forward for EU-wide stress tests / Pedro Duarte Neves

A backstop liquidity facility for a greener economy / Eric Jondeau, Benoit Mojon, Cyril Monnet

Shifts in the portfolio holdings of euro area investors in the midst of COVID-19: looking-through investment funds / Daniel Carvalho, Martin Schmitz

EU – US: Towards renewed transatlantic cooperation? / Maartje Wijffelaars, Philip Marey

Whatever it takes to save the planet? Central banks and unconventional green policy / Alessandro Ferrari, Valerio Nispi Landi

Next Generation EU: can we do better? / Lorenzo Codogno, Paul van den Noord

Central bank communication with the general public: effective or not? / Nils Brouwer, Jakob de Haan

On the Origin of Systemic Risk / Mattia Montagna, Giovanni Covi, Gabriele Torri

Debt cancellation by the ECB: Does it make a difference? / Paul de Grauwe

CBDC: Where is the unique selling proposition? / Peter Bofinger,Thomas Haas

Scarring in Europe / Reza Moghadam, Markus Guetschow, Camille White

Are lower bank capital requirements an efficient policy tool for supporting credit to SMEs? / Michel Dietsch, Henri Fraisse, Mathias Lé, Sandrine Lecarpentier

Greening the UK financial system – a fit for purpose approach / Yannis Dafermos, Daniela Gabor, Maria Nikolaidi, Frank van Lerven

Who has purchased euro area debt since the start of the health crisis? / Olivier Sirello

Pandemic Recession, Recovery Plan and Helicopter Money: A Tale from the Serenissima / Charles Goodhart, Donato Masciandaro, Stefano Ugolini

Digital technologies: a source of a productivity rebound? / Gilbert Cette, Sandra Nevoux, Loriane Py

Sharing Economy in the Financial Industry: A Platform Approach towards Sharing in Regulatory Reporting using the Shapley Value / Aaron Janowski, Moritz Plenk, Mirko Haselwander

The rise of digital watchers / Till Ebner, Thomas Nellen, Jörn Tenhofen

Should developed economies manage international capital flows? An empirical and welfare analysis / Dennis Bonam, Gavin Goy, Emmanuel de Veirman

Crisis management for medium-sized banks: the case for a European approach / Andrea Enria

Vaccination delay to cost Europe EUR90bn in 2021 / Ludovic Subran, Ana Boata, Patrick Krizan, Katharina Utermöhl

Bank stress tests: their philosophy and their use by prudential authorities during the Covid-19 crisis / Valère Fourel, Julien Idier, Valerio Scalone, Aurore Schilte

Banking Across Borders: Are Chinese Banks Different? / Eugenio Cerutti, Catherine Koch, Swapan-Kumar Pradhan

The crisis management framework for banks in the EU: what can be done with small and medium-sized banks? / Elke König

The crisis management framework for banks in the EU: how Can we deal with small and medium-sized banks? / Ignazio Visco

A pragmatic solution for the liquidity in resolution problem / Matthias Gruber, Stefan W. Schmitz

The evolution of bond and swap trading / Martin Scheicher

Nowcasting world GDP growth with high-frequency data / Caroline Jardet, Baptiste Meunier

The future of data collection & data management: Agile RegOps for digitalizing the regulatory value chain / Martina Drvar, Johannes Turner, Maciej Piechocki, Eric Stiegeler, Daniel Münch

Scars of youth non-employment and labour market conditions / Giulia Martina Tanzi

Is the 100% Reserve Reform Finally Getting Topical? / Christian Pfister

Is inflation dead or hibernating? / Claudio Borio

Buffer usability and potential stigma effects / Stefan W. Schmitz, Viola Nellessen, Michaela Posch, Peter Strobl

Interest rate-growth differentials on government debt: an empirical investigation for the euro area / Cristina Checherita-Westphal and João Domingues Semeano

The post-COVID-19 recovery: what challenges and roadmap for the banking industry? / Jordi Gual

Capital Buffer Assignments to Other Systemically Important Institutions in the Euro area – Is the Country Heterogeneity in the EU caused by Regulatory Capture? / Michael Sigmund

Consequences for banks’ business from COVID-19 and policy responses / Francesco Mazzaferro

COVID-19 pandemic: Perception, confusion and conspiracies / Stefan Schneider

Could housing booms undermine productivity growth? / Sebastian Doerr

Is NGEU a game changer for the ECB’s role in fighting the fall-out from COVID-19 in the euro area? / Lukas Reiss, Maria Teresa Valderrama

Thriving in a post-pandemic world / Debora Revoltella, Pedro de Lima

Monetary policy effects when interest rates are negative / Joost Bats, Massimo Giuliodori, Aerdt Houben

Limits of the Market / Paul De Grauwe

Preparing for a higher inflation regime / Elga Bartsch, Jean Boivin, Philipp Hildebrand

On the risk-adjusted performance of machine learning models in credit default prediction / Andres Alonso, Jose Manuel Carbo

Are equity markets currently overvalued? The role of the time horizon in earnings expectations / Roberto Blanco and Irene Roibás

In Support of Monetary Policy: Using the Countercyclical Capital Buffer to Avoid a Reversal Interest Rate / Matthieu Darracq Pariès, Christoffer Kok, Matthias Rottner

A stronger voice for Europe in global development / Werner Hoyer

The world economy under Covid-19: Can emerging market economies keep the engine running? / Kristel Buysse, Dennis Essers

Surge in corporate insolvencies hitting German banks / Jan Schildbach

Cyber risk in the financial sector / Iñaki Aldasoro, Jon Frost, Leonardo Gambacorta, Thomas Leach, David Whyte

Retail CBDC Remuneration: The Sign Matters / Christian Pfister

Keynes and Schumpeter are what the European economy needs right now / Sylvain Broyer

Lessons from the Swedish anti-corona strategy / Lieven Noppe

Cross-country differences in Europe’s second COVID wave / David Mackie

Tracking Covid: What Worked? / Markus Guetschow

Policy revolution / Elga Bartsch, Jean Boivin, Stanley Fischer, Philipp Hildebrand

Central banks’ response to the “tragedy on the horizon” / François Villeroy de Galhau

Finding the Right “Hall of Mirrors”: The Mixed Blessings of Lessons from the Past for Shaping a Post-COVID Future / Robert Holzmann

Macroeconomic stabilisation when nominal interest rates are constrained: A role for household inflation expectations? / Geoff Kenny, Ioana Duca-Radu, Andreas Reuter

Update of the European Fiscal Monitor (September 2020) / Willem-Pieter de Groen, Inna Oliinyk

The shadow of fiscal dominance: Misconceptions, perceptions and perspectives / Isabel Schnabel

More travel warnings are almost like a new lockdown for the hospitality industry / Eric Heymann

The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival / C.A.E. Goodhart, Manoj Pradhan

Monitoring economic activity in times of Covid-19: moving up to higher frequency / Barbara Castelletti, Marie Delorme, Pavel Diev, Yannick Kalantzis, Antoine Lalliard, Matteo Mogliani

The Eurosystem collateral framework in 2018 and 2019 / Marco Corsi, Benjamin Hartung, Viktoriya Gocheva

Can we expect the economy to rebound rapidly? / Stéphane Dupraz

The EU’s “Northern enlargement” 25 years on – stocktaking and some thoughts for the future / Ernest Gnan and Robert Holzmann

A Journey through the Monetary Cyber World / Christian Pfister

Limits and pitfalls of QE in emerging markets / Daniel Daianu

To each crisis its analogy, to each analogy its critical reflection / Robert Holzmann

Global value chains and the challenge of Covid-19 / Antoine Berthou, Juan Carluccio, Guillaume Gaulier

Home- and host-country prudential regulation and spillovers in dollar credit / Stefan Avdjiev, Bryan Hardy, Patrick McGuire, Goetz von Peter

After Coronavirus: Deflation or Inflation? / C.A.E. Goodhart

A rule-based monetary strategy for the European Central Bank: a call for monetary stability / Juan E. Castañeda

Inclusive payments for the post-pandemic world / Raphael Auer, Jon Frost, Thomas Lammer, Tara Rice, Amber Wadsworth

Are bank capital requirements optimally set? Evidence from researchers’ views / Gene Ambrocio, Iftekhar Hasan, Esa Jokivuolle, Kim Ristolainen

Finland and monetary policy through three crises / Tuomas Välimäki and Meri Obstbaum

Financial integration in the Nordic-Baltic region vis-à-vis the EU: A Swedish perspective / David Farelius, Stefan Ingves, Magnus Jonsson

The Growth of Indexing - What is happening, and why? / Craig Lazzara

Measuring Regulatory Complexity / Jean-Edouard Colliard, Co-Pierre Georg

The big debt surge / Ralph Solveen

Eurozone in times of Covid-19: Debt monetisation by stealth / Peter Vanden Houte

European Recovery Fund: Sceptics Q&A / Reza Moghadam, Jacob Nell, Joao Almeida, Bruna Skarica, Markus Guetschow

Radical Uncertainty / John Kay

How effective are bank levies in reducing leverage given the debt bias of corporate income taxation? / Franziska Bremus, Kirsten Schmidt, Lena Tonzer

The Macroeconomic Impact of NPLs in Euro Area Countries / Ivan Huljak, Reiner Martin, Diego Moccero, Cosimo Pancaro

Special Update of the European Fiscal Monitor / Willem-Pieter de Groen, Inna Oliinyk, Sander van Veldhuizen

How firms are adapting to the lockdown: insights from text mining / Mathilde Gerardin, Martial Ranvier

Retail Central Bank Digital Currencies: means of payment vs store of value / Santiago Fernández de Lis, Pablo Urbiola

Europe’s answer to Libra – potential and prerequisites of a programmable euro / Andreas Krautscheid, Tobias Tenner, Siegfried Utzig

Banking between two crises / Karel Lannoo

The liquidity trap, monetary policy and the health crisis / Stéphane Lhuissier

Financial resilience of German households to Corona triggered income shock / Orcun Kaya

A sensible fiscal policy for the sharp rise in government debt / Forrest Capie, Meyrick Chapman, Chris Marsh, Geoffrey Wood

Which factors drive consumers to adopt crypto-assets? Results from an Austrian survey / Helmut Stix

The need for a new financial architecture after CORONA, an opinion / Freddy Van den Spiegel

Covalization: Europe on the Rack Between Globalization and Covid - A Historian’s Perspective on the European Union: Europe and Globalization / Harold James

The EU’s recovery plan is the next generation of fiscal solidarity / Sylvain Broyer

Credit Guarantees in the COVID-19 crisis – Relevance and Economic Impact / Julien Brault, Simone Signore

Assessing the efficacy of COVID-19 tracing regimes / David Mackie

Towards a wider international role for the euro / Francesco Papadia, Konstantinos Efstathiou

A first look at fiscal dynamics in the Euro area after COVID-19: the case for a shift in the fiscal governance system / Marco Protopapa

The international role of the euro / Marco Buti

There is nothing magic in central bank money / Jean Barthélemy, Adrian Penalver

Do contactless cards really change the way we pay? / Martin Brown, Nicole Hentschel, Hannes Mettler, Helmut Stix

Keeping the COVID-19 R number below 1 as mobility rises / David Mackie

An ECB digital currency – a flight of fancy? / Yves Mersch

Does the EU convergence machine still work and how will the Covid-19 crisis impact it? / Patrick Bisciari, Dennis Essers, Evelien Vincent

US dollar funding markets during the Covid-19 crisis – the international dimension / Egemen Eren, Andreas Schrimpf, Vladyslav Sushko

International inflation co-movements / Philip R. Lane

Simulating the distributive effects of the Macron-Merkel Recovery Fund / Friedrich Heinemann

Making banking integration work for better risk sharing in the eurozone: the role of cross-border banking consolidation / Mathias Hoffmann

Cross-border consolidation in the European banking sector: between dreams and reality / Jan Van Hove

Services are the next – and fast approaching – frontier of global trade and financial services is a sector leading the way / Robert Koopman

German Constitutional Court vs ECB: Law, Economics and Politics / Donato Masciandaro

Turning collective savings into private equity investments: The Covid-19 crisis as a catalyst for pan-European efficient resource allocation / Georges Hübner

ECB needs to finance Corona budget deficits / Paul De Grauwe

The currency composition of foreign exchange reserves / Hiro Ito and Robert N McCauley

Monetary policy implications of digital currencies / Katrin Assenmacher

Can we compare the COVID-19 and 2008 crises? / Marc-Olivier Strauss-Kahn

Coronavirus and the world of work / Monika Kiss

How large is the coronavirus macro shock? Putting the near-term record-breaking shock in the long-term context / Elga Bartsch, Jean Boivin, Philipp Hildebrand

Covid-19 policy response and the role of the EIB / Debora Revoltella

An EU Recovery Fund: How to square the circle? / Kajus Hagelstam, Alice Zoppè, Cristina Sofia Dias

Never Let a Good Crisis Go to Waste! / Kai A. Konrad, Marcel Thum

Shh, don’t say it! ECB Helicopter Money: Economics and Politics / Donato Masciandaro

How the economy will recover from the Corona shock / Jörg Krämer and Bernd Weidensteiner

Interlinking Europe’s recovery plan and the next EU budget / Kevin Körner and Barbara Böttcher

Overview of Central Bank Digital Currency - State of Play / Johannes Duong

Embedded supervision: how to build regulation into Libra 2.0 and the token economy / Raphael Auer

What central banks have done to help the economy survive Covid-19 / Florens Odendahl, Adrian Penalver, and Urszula Szczerbowicz

Politics and Economics of Global Currencies / Paul De Grauwe

Navigation tools in the semi-normal corona era / Andy Langenkamp

The search for the right European Financing Instruments in the Corona Pandemic - ESM Liquidity Assistance versus Corona Bonds / Friedrich Heinemann

Regulation, Corporate Culture and Individual Responsibility in Banking / David T Llewellyn

The range of different opinions and moods in Germany on collective ‘corona bonds’ / Ingobert Waltenberger

The Prudent Algorithm Principle: A new paradigm for financial supervision / Jakob Thomä

Passive Funds Actively Affect Prices: Evidence from the Largest ETF Markets / Karamfil Todorov

European banks in the corona crisis / Jan Schildbach

Mother Nature: The gender-climate nexus / Jessica Murray

How deep will it fall? Comparing the euro area recessions of 2020 and 2009 / Andreas Breitenfellner, Paul Ramskogler

A diverse monetary union creates invisible transfers that justify conditional solidarity / Enrico Perotti and Oscar Soons

Reflections on the health and financial crisis / Jacques de Larosière

Does It Fit? Tweeting on Monetary Policy and Central Bank Communication / Donato Masciandaro, Davide Romelli, Gaia Rubera

The European Deposit Insurance Scheme: Economic Rationale, Issues and Policy Solutions / Ettore Panetti

A “European Capitalization and Development Fund” (ECDF) to facilitate Europe’s post-corona recovery / Ernest Gnan

Euro Area Economics: Putting the OOH into HICP / Jacob Nell, Bruna Skarica, Joao Almeida, Markus Guetschow

Central Bank Digital Currency: A Primer / Christian Pfister

Are Standard Macro and Credit Policies Enough to Deal with the Economic Fallout from a Global Pandemic? A Proposal for a Negative SME Tax / Thomas Drechsel, Şebnem Kalemli-Özcan

Reforms, Reversals and the Road Ahead: Lessons from Three Decades of Transition in Central and Eastern Europe / Beata Javorcik

The Paradox of Endogenous Nationalism and the Role of Quantitative Easing / Massimo Morelli

Capital Regulations and the Management of Credit Commitments during Crisis Times / Paul Pelzl, María Teresa Valderrama

Euro Area Economics: Greenflation? / Jacob Nell, Joao Almeida, Markus Guetschow

R-star decline and monetary hysteresis / Phurichai Rungcharoenkitkul

Mortgage Lending and Macroprudential Policy in the UK and US / Alan Brener

Cost-Efficiency and Productivity of euro area banks / Ivan Huljak, Reiner Martin, Diego Moccero

Regulating fintech: what is going on, and where are the challenges? / Fernando Restoy

Making sure your bot colleague is less biased than you! / Frank De Jonghe

The European Banking Union / Margarita Delgado

Populism, Economic Policies and Central Banking: an Overview / Ernest Gnan, Donato Masciandaro

European Banking Consolidation: Can a view to the past inform current policy efforts? / Peter Hahn

How Could Central Bank Digital Currencies Be Designed? / Itai Agur, Anil Ari, Giovanni Dell’Ariccia

Interests and alliances / Klaas Knot

Europe’s role in the global financial system / Luis de Guindos

Bank resolution, the need to recognize reality in order to prepare for the next crisis / Jesper Berg, Henrik Bjerre-Nielsen

Should central banks also be supervisors: a political economy perspective / Donato Masciandaro

Economic policy in EMU: What role for fiscal and monetary policy? Which has more scope left? How to combine them? / Marco Buti

DLT-Based Regulatory Reporting - A game changer for the regulatory regime? / Daniel Münch, Noah Bellon

TCFD: strengthening the foundations of sustainable finance / Mark Carney

The quest for policy scope: Implications for monetary policy strategies / Klaas Knot

Investing in Europe’s Competitiveness and Sustainability / Werner Hoyer

Central bank independence and inflation / Ryszard Kokoszczyński, Joanna Mackiewicz-Łyziak

Deposit facility rate, bank reserves, and portfolio reallocation incentives / Manuel Buchholz, Kirsten Schmidt, Lena Tonzer

Euro Area Fiscal Policy: The Factual, the Possible and the Surprising / Daniele Antonucci

Following “Libra” German banks say: The economy needs a programmable digital euro / Andreas Krautscheid, Tobias Tenner, Siegfried Utzig

Putting macroprudential policy to work: a case study on the Dutch housing market / Paul Hilbers, Marco van Hengel

Central Banking in challenging times / Claudio Borio

Ten years after Lehman, is the financial system safer? / Denis Beau

Inflation In The Eurozone Is Dead. Long Live (The Right Kind Of) Inflation / Sylvain Broyer

Reforming the Stability and Growth Pact: Striving for sustainability while offering room for manoeuvre / Karsten Wendorff

Towards a European Governance Framework for Cryptoassets / Jason Grant Allen, Rosa María Lastra

The rise of central banks as sovereign debt holders: Implications for investor bases / Alvise Lennkh, Bernhard Bartels, Thibault Vasse

Libra – a view from Europe / Heike Mai

Tackling non-performing loans in Europe / Peter Grasmann, Markus Aspegren, Nicolas Willems

Banks’ behavioral reactions to Basel III: mostly as intended / Stefan W. Schmitz

Dealing with the next downturn: From unconventional monetary policy to unprecedented policy coordination / Elga Bartsch, Jean Boivin, Stanley Fischer, Philipp Hildebrand

On Crypto Assets / Andrei Kirilenko

Non-banks in the EU: ensuring a smooth transition to a Capital Markets Union / Fatima Pires

How to improve crisis management in the banking union: a European FDIC? / Fernando Restoy

Central bank digital currency: institutional issues / Wim Boonstra

Integration and convergence in the EMU: a complex dynamic / Bruno Cabrillac

The euro’s global role: past, present and future / Arnaud Mehl

Making the most of the EMU: Challenges and opportunities for structural reforms / Luiz de Mello

Strengthened EU fiscal framework: fiscal discipline versus economic stabilization / Bernhard Grossmann, Gottfried Haber

Reconciling risk sharing with market discipline: A constructive approach to euro area reform / Isabel Schnabel

Controlling CBDC through tiered remuneration / Ulrich Bindseil

Escaping the Trap: Secular Stagnation, Monetary Policy and Financial Fragility / Martin Wolf

European Economic and Monetary Union: from the Past into the Future / Jean-Claude Trichet

Beliefs and Portfolios: New Measurement and Facts / Stefano Giglio, Matteo Maggiori, Johannes Stroebel, Stephen Utkus

How to Make Capitalism Work for All? / Anita Angelovska Bezhoska

Restricting or Abolishing Cash: An Effective Instrument for Eliminating the Shadow Economy, Corruption and Terrorism? / Friedrich Schneider

Central banks still run money creation / Daniel Daianu

Mitigating Fiscal Risks from the Financial Sector / Ludger Schuknecht

Loan portfolio diversification in the euro area, capital requirements, and the European Banking Union / Esa Jokivuolle, Matti Virén

Regulatory complexity and the quest for robust regulation / Prasanna Gai, Malcolm Kemp, Antonio Sánchez Serrano, Isabel Schnabel

Libra: A new competitor among international currencies? / Beat Weber

Main findings from a survey on the long-term impact of Brexit on the UK and EU economies / Patrick Bisciari

Global economic governance at a crossroads / Carlo Monticelli

Rethinking Capital Regulation: The Case for a Dividend Prudential Target in the Euro Area / Manuel Muñoz

Bilateral Trade Balances Under Focus / Florence Jaumotte

A products and activities approach to managing risk in asset management / Barbara Novick

Financial aspects of Brexit / Thomas Url

Central banks are too risk averse as investors / Massimiliano Castelli, Stefan Gerlach

Thoughts for a third EU Referendum: Revoke Article 50 OR Leave with “a” deal / Graham Bishop

Chinese foreign investment: a dangerous obsession or a new normal? Get ready for the latter! / Peter Havlik

The future of financial stability: Maintaining effectiveness while reducing complexity / Andreas Ittner

The future of the UK services trade post-Brexit: unlikely to be bright / Olga Pindyuk

Monetary and financial stability: the implications for prudential supervision / Ed Sibley

Analysing the Economics of BREXIT and World Trade / David T. Llewellyn

Rethinking the Trade-offs for Monetary Policy in an Era of Globalization / Enrique Martínez-García

The impact of Brexit on growth and the public finances / Iain Begg

The post-crisis Phillips Curve and its policy implications: cumulative wage gap matters for inflation / Liviu Voinea

How to assess the adequacy of capital requirements based on internal models? / Susanne Roehrig

What is „Modern Money Theory“ (MMT)? / Beat Weber

The future of money and payments / Agustín Carstens

A New Horizon / Mark Carney

The Euro Area: Staying the Course through Uncertainties / François Villeroy de Galhau

The Euro Area: Creating a Stronger Economic Ecosystem / Christine Lagarde

Market power: a complex reality / Peter Praet

Beyond voluntary disclosure: why a ‘market-shaping’ approach to financial regulation is needed to meet the challenge of climate change / Josh Ryan-Collins

Fiscal Rules / Vitor Gaspar, David Amaglobeli

New Frontiers in the Euro Debate in Iceland / Thorsteinn Thorgeirsson

Disintermediation and re-intermediation effects of the CSPP / Óscar Arce, Ricardo Gimeno, Sergio Mayordomo

Creating an enabling environment for innovation and digitalisation / Debora Revoltella, Tim Bending, Christoph Weiss, Philipp-Bastian Brutscher

What lies in store for the eurozone? An assessment of the Greek bailout programmes: Has the EU become wiser? / Yannis Stournaras

Europe needs reforms for inclusive growth. Do Europeans agree? / Pier Carlo Padoan

Big tech in finance and new challenges for public policy / Agustín Carstens

The output cost of the global financial crisis: A reappraisal after ten years / David Turner, Patrice Ollivaud

Monetary Policy beyond normalization / Maria Demertzis

Africa needs investments beyond its pockets of growth / Olivier de Boysson, Clément Gillet

Business models in prudential policies / Isabelle Vaillant, Marina Cernov

Bank business models: time to act / Rudi Vander Vennet

Trends and Cycles in Financial Intermediation / Philip R. Lane

Regtech meets financial supervision: how climate scenario analysis by supervisors is ushering in a new regulatory paradigm / Jakob Thomä

Global financial vulnerabilities: Get ready for a bumpy ride / Claudio Borio

A plea for a paradigm shift in financial decision-making in the age of climate change and disruptive technologies / Angela Köppl, Sigrid Stagl

A Financial Union for the Euro Area / Poul M. Thomsen

A Green Supporting Factor — The Right Policy? / Jacob Dankert, Lars van Doorn, Henk Jan Reinders, Olaf Sleijpen

Preserving regulatory certainty: The review of insurers’ capital requirements / Gabriel Bernardino

Central banks should reflect climate risks in monetary policy operations / Pierre Monnin

21st century cash: Central banking, technological innovation and digital currencies / Fabio Panetta

Green bond finance and certification / Torsten Ehlers, Frank Packer

The future for central bank balance sheets and their potential use as a macroprudential tool / Paul Fisher

A solid common landing ground for EMU / Jeroen Dijsselbloem

Temporary Eurobill Fund (TEF): 30 FAQs / Graham Bishop

Strengthening the euro area Architecture: A proposal for Purple bonds / Lorenzo Bini Smaghi, Michala Marcussen

Modern financial repression in the euro area crisis: making high public debt sustainable? / Ad van Riet

Populism and Central Bank Independence / Donato Masciandaro, Francesco Passarelli

Central Bank Accountability and Judicial Review / Charles Goodhart, Rosa Lastra

Opportunities and challenges for banking regulation and supervision in the digital age / José Manuel González-Páramo

In the euro area, discipline is of the essence, but risk-sharing is no less important / Daniel Daianu

European Monetary Union reform preferences of French and German parliamentarians / Sebastian Blesse, Pierre C. Boyer, Friedrich Heinemann, Eckhard Janeba, Anasuya Raj

Credit conditions and corporate investment in Europe / Laurent Maurin, Rozalia Pal, Philipp-Bastian Brutscher

Euro area quantitative easing: Large volumes, small impact? / Daniel Gros

Comparability of Basel risk weights in the EU banking sector / Zsofia Döme, Stefan Kerbl

The New Silk Road: Implications for Europe / Stephan Barisitz, Alice Radzyner

Fairness and Support for the Reforms: Lessons from the Transition Economies / Sergei Guriev

The occasional importance of the current account in an era of a global savings glut / Jesper Berg, Steffen Lind

Deepening the Economic and Monetary Union: the EU priorities by 2025 and beyond / Marco Buti

Risk sharing in EMU: key insights from a literature review / Demosthenes Ioannou, David Schäfer

Recent developments in Chinese shadow banking / Michael Chui, Christian Upper

Is cash back? Assessing the recent increase in cash demand / Clemens Jobst, Helmut Stix

Is there a risk of snapback in long-dated yields? / Hyun Song Shin

Gaming the rules or ruling the game? – How to deal with regulatory arbitrage / Danièle Nouy

International financial crises: new understandings, new data / Jaime Caruana

Technological Change and the Future of Cash / François R. Velde

Banks or platforms: The digital future / Patricia Jackson

The political economy of central banking in the digital age / Sir Paul Tucker

(No) worries about the new shape of international capital flows / Matthieu Bussiére, Julia Schmidt, Natacha Valla

Completing the architecture of the Euro / Lorenzo Bini Smaghi

Bail-ins: Issues of Credibility and Contagion / Clas Wihlborg

Two turbulent centuries: Lessons from Austria’s monetary policy, 1816-2016 / Ernest Gnan, Clemens Jobst

Doves, Hawks and Pigeons: Behavioral Monetary Policy Making / Donato Masciandaro

Ten Myths in the Brexit Debate / David T. Llewellyn

Bank secrecy in offshore centres, capital flows and blacklisting: It takes two to tango / Donato Masciandaro

Some seeming paradoxes or interesting points of Russia’s economy and banking sector / Stephan Barisitz

Gender diversity and monetary policy / Donato Masciandaro, Paola Profeta, Davide Romelli

Cash without future? Future without cash? A wider view / Christian Beer, Urs W. Birchler, Ernest Gnan

Modigliani–Miller, Basel 3 and CRD 4 / Morten Balling

What is money and who says so? / Peter R. Fisher

ECB Annual Report 2020 / ECB

Deepening Economic and Monetary Union (EMU) and the role of the European Stability Mechanism (ESM) - 5 May 2021 / Belgian Financial Forum / NBB

Economist specialised in Visegrád group countries / Vienna Institute for International Economic Studies (wiiw)

Post-Doc Economist specialised in international economics / The Vienna Institute for International Economic Studies (wiiw)

2021 Graduate Programme (Monetary Economics and Financial Stability) / BIS

Introducing: Housing and Financial Stability: Mortgage Lending and Macroprudential Policy in the UK and US, (Routledge, 2020); and Strategies for Compliance: Tools, Techniques and Challenges in Financial Services, (Routledge, 2021) / Dr Alan Brener, University College London

International Central Banking / Deutsche Bundesbank

[in German] Ökonomin/Ökonom für Geldpolitik und -theorie / OeNB

[in German] Leiterin/Leiter der Hauptabteilung Volkswirtschaft / OeNB

SNB Research Conference 2021 "Central Banking at a Crossroads: Challenges in the Current Environment" - Deadline 22 March 2021 / Swiss National Bank

2021 RiskLab/BoF/ESRB Conference on Systemic Risk Analytics - Deadline 31 March 2021 / Bank of Finland

Building a smart and green Europe in the COVID-19 era / EIB

SNB-CIF Conference on "Cryptoassets and Financial Innovation” - Deadline 31 January 2021 / Swiss National Bank

The review of Solvency II - 1 December 2020 / Belgian Financial Forum / NBB

6 Traineeship positions - General Secretariat Directorate / Economics Department (start March/April 2021) - Application deadline 26 November / EIB

The coronacrisis: policy revolution in macro-economic policy - 17 November 2020 / Belgian Financial Forum / NBB

[in German] Ökonomin/Ökonom für Konjunkturanalyse und -prognose für Österreich / OeNB

[in German] Ökonomin/Ökonom für Inflationsanalyse,-forschung und -prognose sowie Preismessung / OeNB

Lessons learned from the world’s first CBDC - 30 Oct 2020 / OeNB

Globalization and Pandemics - 26 Nov 2020 / OeNB & wiiw

[in German] Referent/in für Wirtschafts- und Handelspolitik / WKÖ (Austrian Economic Chambers)

Banque de France Research grants 2021-2022 - Deadline 13 December / Banque de France

Firms in times of the pandemic - 4 December 2020 / Banque de France & Banca d’Italia

14th South-Eastern European Economic Research Worksho - 10 and 11 December 2020 / Bank of Albania

"Financial Stability and Regulation", 22-23 October 2020 / Bank of Italy and Bocconi University

International Capital Flows and Financial Policies - 20-21 October 2020 / Banque de France

BdF-ECB Workshop on international financial flows, 19 October 2020 / Banque de France & ECB

(Senior) Economist - Application deadline 2nd November 2020 / EIB

(Associate) Economist - Application deadline 2nd November 2020 / EIB

Looking back, looking forward: Regional cooperation in the Western Balkans - 14 October 2020 / wiiw

"New Challenges to Monetary Policy Strategies” - 24 November 2020 / Bank of Finland

EBF High-Level Public Dialogue - 1 October, 15:00 CET / ONLINE / EBF

BIS Quarterly Review, September 2020 / BIS

2021 PhD Fellowship Programme (Monetary & Economic Department) / BIS

“Data science in central banking – data, technologies and applications” Basel, Switzerland, 17–18 March 2021 / BIS

The economic implications of COVID-19 / Princeton BCF

Future Money: Which Road? on September 3, 2020 / ETH-Zürich

EIBURS Research grant: Firm competitiveness, growth and digitalisation / EIB Institute

‘Coronationalism’ vs a geopolitical Europe? EU external solidarity at the time of Covid-19 / CEPS

How to Spend it: A Proposal for a European Covid-19 Recovery Programme / wiiw

Do conventional monetary policy instruments matter in unconventional times? / Lena Tonzer

The EU Recovery Plan - 25 June 2020 / NBB and BFF

Bernazer Prize Nominations - Until 31 May 2020 / Banco de España

Banking & the State - Deadline 31 Aug 2020 / Conference

Banking in a Digital World: Drivers and Trends - 19 May 2020 / EBF

IWH-FIN-FIRE workshop: Challenges to Financial Stability / Lena Tonzer, IWH

Panel discussion evaluating EU/EMU policy responses and proposals / wiiw

Research project on “Evolution of Financial Algorithms and Regulation” M/F / Jean-Edouard Colliard, HEC Paris

Economics of Monetary Union / Paul De Grauwe, LSE

Walking the Highwire: Rebalancing the European Economy in Crisis / Olli Rehn, Bank of Finland

37th Symposium on Money, Banking and Finance - Deadline 22 Feb 2020 / Banque de France

SNB Research Conference 2020: Monetary Policy in a Low Interest Rate Environment / Swiss National Bank

9th European System of Central Banks Day Ahead Conference - Deadline 15 Feb 2020 / De Nederlandsche Bank (DNB)

Upcoming Lectures & Conferences / Belgian Financial Forum

Finance & Migration - Deadline 15 Feb 2020 / Conference

NBRNM 8th Research Conference jointly organized with EIB - Deadline 1 February 2020 / NBRNM & EIB

Finance and Philosophy- Why we’re always suprised / Alex J. Pollock

03.03.2021  - Commission presents updated approach to fiscal policy response to coronavirus pandemic

11.02.2021  - European Commission - Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel

27.01.2021 - ESRB - Recommendation of the European Systemic Risk Board of 15 December 2020 amending Recommendation ESRB/2020/7 on restriction of distributions during the COVID-19 pandemic (ESRB/2020/15) 2021/C 27/01

Janaury 2021  - IMF - World Economic Outlook Update, January 2021, Policy Support and Vaccines Expected to Lift Activity

10-11.12.2020 - European Council - EU Leaders reach agreement on long-term EU budget and Next Generation EU coronavirus recovery package

02.12.2020 - EBAThe EBA reactivates its Guidelines on legislative and non-legislative moratoria. 

21-22.11.2020 - European Council Press release - G20 Summit: G20 leaders united to address major global pandemic and economic challenges

05.11.2020  - European Commission - Autumn 2020 Economic Forecast

16.10.2020 - European Council conclusions - On 15 and 16 October 2020, the European Council adopted conclusions on COVID-19, EU-UK relations, climate change and external relations.

07.10.2020  - European Commission to issue EU SURE bonds of up to €100 billion as social bonds

06.10.2020  - Council of the EU: Video conference of economics and finance ministers, 6 October 2020

06.10.2020  - ECBThe ECB’s monetary policy in the pandemic: meeting the challenge, speech by Philip R. Lane, Member of the Executive Board of the ECB, at the 62nd NABE Annual Meeting.

21.09.2020  - EIBThe EIB COVID-19 Economic Vulnerability Index: An analysis of countries outside the European Union

15.09.2020  - ECBHealing after the pandemic: supporting and sustaining the recovery, speech by Fabio Panetta, Member of the Executive Board of the ECB, at the 24th Economist Roundtable with the Government of Greece.

14.09.2020  - ECB working paperThe great lockdown: pandemic response policies and bank lending conditions, by Carlo Altavilla, Francesca Barbiero, Miguel Boucinha and Lorenzo Burlon

11.09.2020  - Eurogroup reviews economic situation, policy action, and recovery needs due to COVID-19 crisis.

24.07.2020  - EC -  Coronavirus response: Making capital markets work for Europe’s recovery

23.07.2020  - ECB - Europe’s response to the crisis, blog post by Christine Lagarde, President of the ECB

22.07.2020  - ECR - EP resolution on extraordinary European Council meeting 17-21 July 2020

17-21.07.2020 - Special European CouncilMain results: EU leaders agreed a recovery package and the 2021-2027 budget that will help the EU to rebuild after the pandemic and will support investment in the green and digital transitions.

19.07.2020 -  “A strong appeal for ambitious cooperation” - Report by President Charles Michel at the European Parliament on the video conference of the members of the European Council of 19 June 2020

10.07.2020  - IMF  - Fiscal Policies for a Transformed World, by Vitor Gaspar and Gita Gopinath

08.07.2020  - European Parliament -  EU leaders prepare timetable and structure for EU budget negotiations

01.07.2020  - Commission: Assessment of the fiscal stance appropriate for the euro area

The 2020 Stability & Convergence Programmes: An Overview, with an Assessment of the Euro Area Fiscal Stance

30.06.2020  - BIS - Annual Economic Report 2020
Press release Central banks a stabilising force in response to unprecedented crisis

26.06.2020   - IZA Institute of Labor Economics - A Literature Review of the Economics of COVID-19 -  DP No. 13411

25.06.2020  - BPEA Article - Policies for a second wave, by David Baqaee, Emmanuel Farhi, Michael J. Mina, and James Stock

25.06.2020  - ECB - New Eurosystem repo facility to provide euro liquidity to non-euro area central banks

24.06.2020  - IMF - The Global Financial Stability Report Update: Financial Conditions Have Eased, but Insolvencies Loom Large

World Economic Outlook Update, June 2020: A Crisis Like No Other, An Uncertain Recovery

24.06.2020  - The ECB’s monetary policy response to the pandemic: liquidity, stabilisation and supporting the recovery, speech by Philip R. Lane, Member of the Executive Board of the ECB.

22.06.2020  - Keynote speech delivered by President Werner Hoyer at the Frankfurt Finance Summit "Promoting productivity and sustainability in the time of COVID-19: a twin challenge "

19.06.2020  - European Council - Video conference of the members of the European Council, 19 June

17.06.2020  - Bruegel Blog Post - The EU’s recovery fund proposals: crisis relief with massive redistribution, by Zsolt Darvas

15.06.2020  - IMF blog: Combating COVID-19: How Should Banking Supervisors Respond? By Tobias Adrian  and Ceyla Pazarbasioglu

10.06.2020  - The ECB’s policy in the COVID-19 crisis – a medium-term perspective, remarks by Isabel Schnabel, Member of the Executive Board of the ECB, at an online seminar hosted by the Florence School of Banking & Finance.

10.06.2020  - PIIEA new policy toolkit is needed as countries exit COVID-19 lockdowns, by Olivier Blanchard, Thomas Philippon and Jean Pisani-Ferry

27.05.2020  - BIS - Countering Covid-19: The nature of central banks’ policy response 
Opening remarks by Agustín Carstens, General Manager of the BIS, at the UBS High-level Discussion on the Economic and Monetary Policy Outlook, Zurich, 27 May 2020

27.05.2020  - Commission: Recovery Plan Communication: “Europe’s moment: Repair and Prepare for the Next Generation”
Staff working document - Identifying Europe’s recovery needs

26.05.2020  - ECBFinancial Stability Review, May 2020

25.05.2020  - EBA - COVID-19 is placing unprecedented challenges on EU banks

22.05.2020  - BISDealing with Covid-19: understanding the policy choices, by Frederic Boissay, Daniel Rees and Phurichai Rungcharoenkitkul

19.05.2020  - ECB - Remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the Institute for Monetary and Financial Stability Policy Webinar, 19 May 2020 - Pandemic central banking: the monetary stance, market stabilisation and liquidity

15.05.2020  - ESMBoard of Governors backs Pandemic Crisis Support

15.05.2020  - Eurogroup  - Video conference of the Eurogroup:

Main results: Regular format (euro area countries)  - Euro area: economic outlook and challenges

Remarks by Mário Centeno following the Eurogroup videoconference of 15 May 2020
Remarks by Commissioner Gentiloni at the Eurogroup press conference 

14.05.2020  - BIS - Financial crime in times of Covid-19 - AML and cyber resilience measures, by Juan Carlos Crisanto and Jermy Prenio

13.05.2020  - ECB - Interview with Andrea Enria, Chair of the Supervisory Board of the ECB, “The current crisis is a wake-up call”

13.05.2020  - Deutsche Bank Research: Life after covid-19

13.05.2020  - PIIEAn Economic Update by Fed Chair Jerome H. Powell and Adam S. Posen, President, PIIE.

13.05.2020  - Commission: Speech by President von der Leyen at the European Parliament Plenary on the new MFF, own resources and the Recovery Plan

 - Tourism and transport: Commission’s guidance on how to safely resume travel and reboot Europe’s tourism in 2020 and beyond

12.05.2020  - European Parliament resolution on the new multiannual financial framework, own resources and the recovery plan

11.05.2020  - CEPS: Latest Numbers / Monitoring Covid-19 contagion growth in Europe

11.05.2020  - Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Tonia Mastrobuoni and published on 11 May 2020

08.05.2020 - ESM Pandemic Crisis Support: Explainer, Timeline and Documents: ESM’s role in the European response

                  - Klaus Regling at Eurogroup video press conference

08.05.2020  - Commission: State aid- Commission expands Temporary Framework

07.05.2020 - BIS - Effects of Covid-19 on the banking sector: the market’s assessment, by Iñaki Aldasoro, Ingo Fender, Bryan Hardy and Nikola Tarashev

06.05.2020  - European Commission:  A deep and uneven recession, an uncertain recovery

European Economic Forecast: Spring 2020
Spring 2020 Economic Forecast - Overview
Spring 2020 Economic Forecast - Statistical annex

European Council: Infographic - The EU’s emergency response to the COVID-19 pandemic

05.05.2020  - Deutsche Bundesbank - Learning from European cooperation in the field of financial stability
by Prof Dr Claudia Buch Vice-President of the Deutsche Bundesbank (Guest contribution published in Süddeutschen Zeitung, in Les Echos and in La Repubblica)

05.05.2020  - KfW coronavirus aid: loans for companies

01.15.2020  - ECB BlogThe monetary policy response to the pandemic emergency, by Philip R. Lane

30.04.2020  - ECB announces new pandemic emergency longer-term refinancing operations

28.04.2020  - Eurofi: Views on the Covid-19 crisis impacts

28.04.2020  - SSRN - Papers on Covid-19

27.04.2020  - The EU Technical Expert Group (TEG) on Sustainable Finance: “Sustainable recovery from the Covid-19 pandemic requires the right tools.”

27.04.2020 - European Parliament ThinkTank: Developing a pandemic emergency purchase programme: Unconventional monetary policy to tackle the coronavirus crisis

24.04.2020  - Eurofi article by Elke König, Chair of the SRB - Completing the crisis management framework: a centralized administrative liquidation tool for banks

23.02.2020  - Conclusions of the President of the European Council following the video conference of the members of the European Council

22.04.2020  - S&P Global Ratings - How COVID-19 Is Affecting Bank Ratings

22.04.2020  - ECB takes steps to mitigate impact of possible rating downgrades on collateral availability

ECB blog - Improving funding conditions for the real economy during the COVID-19 crisis: the ECB’s collateral easing measures, by Luis de Guindos, Vice-President of the ECB, and Isabel Schnabel, Member of the Executive Board of the ECB

21.04.2020  - CEPS - How is EU cooperation on the Covid-19 crisis perceived in member states? by Sophia Russack / Steven Blockmans

21.04.2020  - Statement of IMF, ESM and other Regional Financing Arrangements (RFA) on economic impact of COVID-19

21.04.2020  - The European Council  - A ROADMAP FOR RECOVERY Towards a more resilient, sustainable and fair Europe

Invitation letter by President Charles Michel to the members of the European Council ahead of their video conference on 23 April 2020

21.04.2020  - ICMA -The European repo market and the COVID-19 crisis An ICMA European Repo and Collateral Council (ERCC) market report

21.04.2020  - Why we all need a joint European fiscal response,
                     by Fabio Panetta, Member of the Executive Board, ECB, published by Politico

20.04.2020  - EPIN Report - EU crisis response in tackling Covid-19: Views from the member states, by Sophia Russack (ed.)

20.04.2020  - IMF - A Global Crisis Like No Other Needs a Global Response Like No Other

19.04.2020  -  Spain’s non-paper on a European recovery strategy

17.04.2020  - Deutsche Bundesbank: An expansionary monetary and fiscal policy will in any case remain necessary for some time - Interview with Jens Weidmann, President of the Deutsche Bundesbank, conducted by Jana Randow, Bloomberg.

16.04.2020  - S&P Global Ratings - Economic Research: COVID-19 Deals A Larger, Longer Hit To Global GDP by Paul Gruenwald, Beth Ann Bovino, Shaun Roache and Sylvain Broyer.

16.04.2020  - wiiw - Eastern Europe Coronavirus Tracker: Economic impact rising
     Most countries report far fewer cases than in Western Europe, but the macro fallout will still be huge.

16.04.2020  -  EBRD/LSE panel discussion assess impact and consequences of pandemicwatch video

16.04.2020  - Bank of England, Monetary policy during pandemics: inflation before, during and after Covid-19, by Silvana Tenreyro

16.04.2020  - BIS - Covid-19 and operational resilience: addressing financial institutions’ operational challenges in a pandemic

16.04.2020  - ECB - Remarks by Isabel Schnabel, Member of the Executive Board of the ECB, at a 24-Hour Global Webinar co-organised by the SAFE Policy Center on “The COVID-19 Crisis and Its Aftermath: Corporate Governance Implications and Policy Challenges”

15.04.2020  - European Commission
                     Coronavirus: European roadmap shows path towards common lifting of containment measures

15.04.2020  - ECB supports macroprudential policy actions taken in response to coronavirus outbreak

14.04.2020  - FSB Chair updates Finance Ministers and Central Bank Governors on COVID-19 response

14.04.2020  - IMF - World Economic Outlook, April 2020: Chapter 1
                             World Economic Outlook Reports
                             Fiscal Monitor Reports

IMF blog - The Great Lockdown: Worst Economic Downturn Since the Great Depression, by Gita Gopinath

13.04.2020  - Opinion of the Helmholtz Initiative “Systemic epidemiological analysis of the COVID-19 epidemic”

12.04.2020  - ECBInterview with Luis de Guindos, Vice-President of the ECB, conducted by Manel Pérez

10.04.2020  - European Council
Statement by the President of the European Council Charles Michel following the agreement of the Eurogroup

"The agreement of the Eurogroup is a significant breakthrough. More than half a trillion Euros are now available to shield European Union countries, workers and businesses. With this unparalleled package we shoulder the burden of the crisis together. This compromise is aimed at quick targeted relief." Charles Michel, President of the European Council

10.04.2020  - McKinsey & Comapny - Organization Practice: To weather a crisis, build a network of teams
                     by Andrea Alexander, Aaron De Smet, Sarah Kleinman, and Marino Mugayar-Baldocchi

09.04.2020  - Eurogroup - Report on the comprehensive economic policy response to the COVID-19 pandemic

09.04.2020  - European Commission - Oneplanetcrowd raises €1 million growth finance from European Investment Fund

09.04.2020  - IMF - Confronting the Crisis: Priorities for the Global Economy, By Kristalina Georgieva, IMF Managing Director

09.04.2020  - ECB BlogHow the ECB is helping firms and households, post by Christine Lagarde, President of the ECB

08.04.2020  - EIB Group contributes € 5.2 billion to EU response to Covid-19 outside European Union

08.04.2020  - EBRD - Coronavirus to lead to significant economic contraction across EBRD regions

                     EBRD - Spending to counteract coronavirus creates chance to “tilt to green”

07.04.2020  - IIF - April 2020 Global Debt Monitor: COVID-19 Lights a Fuse

07.04.2020  - ECB announces package of temporary collateral easing measures

06.04.2020  - EIF - Update in relation to the EIF’s response measures to the COVID-19 pandemic
The EIF and EC are launching specific COVID-19 support under InnovFin SME Guarantee Facility (InnovFin SMEG), which is supported by the European Fund for Strategic Investments (EFSI). read more

06.04.2020  - IMF - An Early View of the Economic Impact of the Pandemic in 5 Charts
                     By John Bluedorn, Gita Gopinath, and Damiano Sandri

04.04.2020  - Eurogroup - Interview of Mário Centeno with Süddeutsche Zeitung, Le Figaro, La Repubblica, El Pais and Volkskrant

04.04.2020  - University of Oxford, Research Projects: Oxford COVID-19 Government Response Tracker

                    BSG Working Paper Series: Variation in government responses to COVID-19
Abstract: COVID-19 has prompted a wide range of responses from governments around the world. There is a pressing need for up-to-date policy information as these responses proliferate, and governments weigh decisions about the stringency of their policies against other concerns. We introduce the Oxford COVID-19 Government Response Tracker (OxCGRT), providing a systematic way to track the stringency of government responses to COVID-19 across countries and time. Using a novel index that combines various measures of government responses, we describe variation in government responses, explore whether rising stringency of response affects the rate of infection, and identify correlates of more or less stringent responses. read more

03.04.2020  -  Initial Budget and Public Management Responses to the Coronavirus (COVID-19) Pandemic in OECD Countries

03.04.2020  - BIS Bulletin - Covid-19, cash, and the future of payments
                     by Raphael Auer, Giulio Cornelli and Jon Frost

03.04.2020  - Basel Committee sets out additional measures to alleviate the impact of Covid-19

02.04.2020  - BIS Bulletin - Leverage and margin spirals in fixed income markets during the Covid-19 crisis
                     by Andreas Schrimpf, Hyun Song Shin and Vladyslav Sushko 

02.04.2020  - J.P. Morgan - Impact of COVID-19 on Corporates: Pandemic Prompts Corporates to Navigate Through a New Normal

02.04.2020  - EIOPA - urges (re)insurers to temporarily suspend all discretionary dividend distributions and share buy backs

02.04.2020  - Allianz Research - NEW BONDS TO MAKE THE EUROZONE SAFER

02.04.2020  - ESM blog - The time for solidarity in Europe is now – a concerted European financial response to the corona-crisis

02.04.2020  - Bloomberg Opinion - Coronabonds Could Save Europe, or Sink It, by Andreas Kluth

02.04.2020  - Liberty Street Economics - The Value of Opacity in a Banking Crisis, by Haelim Anderson and Adam Copeland

01.04.2020  - The Single Resolution Board (SRB) - publishes key bank resolution policy: Expectations for Banks

01.04.2020  - PIIEAfter its COVID-19 emergency, Europe should issue joint recovery bonds
                     by Jacob Funk Kirkegaard

01.04.2020  - IMF blogEconomic Policies for the COVID-19 War 
                     by Giovanni Dell’Ariccia, Paolo Mauro, Antonio Spilimbergo, and Jeromin Zettelmeyer

31.03.2020  - IMF blogMaintaining Banking System Safety amid the COVID-19 Crisis
                     by Tobias Adrian and Aditya Narain

31.03.2020  - BlackRock Macro InsightsPolicy makers seek to curtail coronavirus jobs hit

31.03.2020  - By WIIW Economists  - Eastern Europe Coronavirus tracker: Preparing for the worst

30.03.2020  - German Council of Economic ExpertsThe economic outlook in the coronavirus pandemic: Special Report 2020

30.03.2020  - SAFE - Corona and Financial Stability 3.0: Try equity - risk sharing for companies, large and smal
                     by A. Boot, E. Carletti, H. Kotz, JP Krahnen, L. Pelizzon, M. Subrahmanyam

30.03.2020  - CEPS Research Paper - Monitoring Covid-19 contagion growth in Europe
                    by Arianna Agosto, Alexandra Campmas, Paolo Giudici and Andrea Renda

30.03.2020  - BIS speech - Bold steps to pump coronavirus rescue funds down the last mile, by Agustín Carstens
The financial turbulence unleashed by the coronavirus pandemic revives unhappy memories of the 2008 financial crisis. The outward symptoms of falling asset prices and tighter credit conditions are similar, but there are important differences. These differences matter, as the response now needs to go beyond the earlier playbook. read more

30.03.2020  - CouncilCovid-19: Measures for the immediate release of funds

The Council today adopted two legislative acts to quickly release funding from the EU budget for tackling the COVID-19 crisis. One of the acts amends the rules of the structural and investment funds, while the other extends the scope of the EU Solidarity Fund. The Coronavirus Response Investment Initiative will give member states access to €37 billion of cohesion money to strengthen healthcare systems, as well as support small and medium-sized enterprises, short-term working schemes, and community-based services.

30.03.2020  - EBFJoint Finance Sector Social Partners Statement on Covid-19
The European social partners in the financial services sector – UNI Europa Finance, the Banking Committee for European Social Affairs of the European Banking Federation (EBF BCESA), the European Savings and Retail Banking Group (ESBG), the European Association of Cooperative Banks (EACB), Insurance Europe, the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE), and the European Federation of Insurance Intermediaries (BIPAR) – would like to express their sincere sympathy to everyone directly suffering because of the Covid-19 pandemic and to profoundly thank all those risking their own health to save lives. read more

28.03.2020  - McKinsey & Company - Global surveys of consumer sentiment during the coronavirus crisis

27.03.2020  - J.P. MorganFallout from COVID-19: Global Recession, Zero Interest Rates and Emergency Policy Actions

27.03.2020  - OECD - updates G20 summit on outlook for global economy

27.03.2020  - ECB Banking SupervisionFlexibility in supervision: how ECB Banking Supervision is contributing to fighting the economic fallout from the coronavirus

27.03.2020  - BIS - Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19

26.03.2020  - Please find below the links to today’s statements of the EBA and the ESMA on the accounting implications of Covid-19 outbreak together with the EBA statements on consumer and payment issues and postponed EBA activities in light of Covid-19

26.03.2020  - Universität Zürich, Department of Economics - Positionspapier Coronavirus 

26.03.2020 - Project Syndicate - The Race Between Economics and COVID-19, by Mohamed A. El-Erian

26.03.2020  - Imperial-College-COVID19-Global-Impact-26-03-2020.pdf

26.03.2020  - FT - Coronavirus tracked: the latest figures as the pandemic spreads | Free to read

25.03.2020  - EBA provides clarity to banks and consumers on the application of the prudential framework in light of COVID-19 measures

25.03.2020  - Bruegel - The Sound of Economics Live: Banks and Loan Losses in the Pandemic Turmoil 

Observations by Bruegel’s Senior Economist Nicolas Veron. A recording of the webcast can be accessed via https://www.bruegel.org/events/the-sound-of-economics-live-banks-and-loan-losses-in-the-pandemic-turmoil/

25.03.2020  - McKinsey & Company — Coronavirus: Leading through the crisis 

                    Safeguarding our lives and our livelihoods: The imperative of our time

                    COVID-19: Implications for business

24.03.2020  - ESM - Press releases - Klaus Regling at Eurogroup video press conference.

24.03.2020  - ECB - Working Paper Series - No 2381 "Real-time weakness  of the global economy:  a first assessment of  the coronavirus crisis", by Danilo Leiva-Leon, Gabriel Perez-Quiros, Eyno Rots

24.03.2020 -  IMF - Policy-Responses-to-COVID-19
This policy tracker summarizes the key economic responses governments are taking to limit the human and economic impact of the COVID-19 pandemic as of March 24, 2020. The tracker includes G-20 economies and the European Union/Euro Area. 

IMF Podcasts - Kristalina Georgieva on Human, Economic Costs of Covid-19
The coronavirus pandemic is having a profound impact on lives and economies around the world. In this podcast, we hear IMF Managing Director Kristalina Georgieva’s statement following her call with G20 Finance Ministers and Central Bank Governors, where they discussed the extraordinary circumstances of the health crisis and the extraordinary measures it will take to mitigate its economic impact.

23.03.2020  - William De Vijlder, Group Chief Economist, BNP Paribas
                     blog - Faced with a sudden stop, policy switches to a ‘whatever it takes’ mode

23.03.2020  - CEPS - Topics on  Covid-19

23.03.2020  - ESMA - COVID 19

                     ESMA clarifies position on call taping under MiFID II

23.03.2020  - KPMG - UK Economic Outlook March 2020


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25 years of “Northern” EU enlargement / Oesterreichische Nationalbank I SUERF

Populism, Economic, Policies and Central Banking / by Ernest Gnan and Donato Masciandaro

European Economic and Monetary Union: The first and the next 20 years / Oesterreichische Nationalbank

Cash on Trial, mk II - Economics, Technology and Institutions / by Urs Birchler, Ernest Gnan, Carl-Christoph Hedrich and Jens Ulbrich

Do We Need Central Bank Digital Currency? Economics, Technology and Institutions / by Ernest Gnan and Donato Masciandaro

Shadow Banking: Financial Intermediation beyond Banks / by Esa Jokivuolle

The Financial System of the Future / Oesterreichische Nationalbank

New Challenges in Central Banking: Monetary Policy Governance and Macroprudential Issues / by Ernest Gnan and Donato Masciandaro

Brexit and the implications for financial services / by Patricia Jackson

Central Banking and Monetary Policy: what will be the post-crisis new normal? / by Ernest Gnan and Donato Masciandaro

The SSM at 1 / by Jens Ulbrich, Carl-Christoph Hedrich and Morten Balling

Banking Reform / by Patricia Jackson

The state as an intermediary to foster long-term investments: the case of the targeted European savings account / Hans-Peter Burghof, Carola Müller

Cash on Trial / by Christian Beer, Ernest Gnan and Urs W. Birchler

Liquidity and Market Efficiency – Alive and well? / by Esa Jokivuolle and Jouko Vilmunen

Asset-Liability Management with Ultra-low Interest Rates / by Ernest Gnan and Christian Beer

Challenges in Securities Markets Regulation: Investor Protection and Corporate Governance / by Pablo Gasós, Ernest Gnan and Morten Balling

Money, Regulation and Growth: Financing New Growth in Europe / by Marc Quintyn, Donato Masciandaro, Frank Lierman and Morten Balling

Banking After Regulatory Reforms - Business as Usual? / by Esa Jokivuolle and Jouko Vilmunen

The Value of Banks and Their Business Models to Society / by Allard Bruinshoofd and Jakob de Haan

The Effectiveness of Capital Adequacy Measures in Predicting Bank Distress / by David Mayes and Hanno Stremmel

The Future of Sovereign Borrowing in Europe / by Morten Balling, Ernest Gnan and Johannes Holler

Property Prices and Real Estate Financing in a Turbulent World / by Morten Balling and Jesper Berg

States, Banks and the Financing of the Economy: Monetary Policy and Regulatory Perspectives / by Morten Balling, Ernest Gnan & Patricia Jackson

States, Banks, and the Financing of the Economy: Fiscal Policy and Sovereign Risk Perspectives / by Morten Balling, Peter Egger & Ernest Gnan

The Interaction of Political, Fiscal and Financial Stability: Lessons from the Crisis / by Ernest Gnan

Developing Distress Resolution Procedures for Financial Institutions / by Clas Wihlborg

The ESRB at 1 / by Stefan Gerlach, Ernest Gnan and Jens Ulbrich

Future Risks and Fragilities for Financial Stability / by David T. Llewellyn and Richard Reid

New Paradigms in Banking, Financial Markets and Regulation? / by Morten Balling, Frank Lierman, Freddy Van den Spiegel, Rym Ayadi and David T. Llewellyn

New Paradigms in Monetary Theory and Policy? / by Morten Balling and David T. Llewellyn

Roles, Missions and Business Models of Public Financial Institutions in Europe / by Mathias Schmit, Laurent Gheeraert, Tierry Denuit, Cédric Warny

Divergence of Risk Indicators and the Conditions for Market Discipline in Banking / by Jens Forssbaeck

Monetary Policy After the Crisis / by Ernest Gnan, Ryszard Kokoszczynski, Tomasz Łyziak & Robert McCauley

Regulation and Banking After the Crisis / by Frank Browne, David T. Llewellyn and Philip Molyneux

The Future of Banking in CESEE after the Financial Crisis / by Attila Csajbók and Ernest Gnan

Contagion and Spillovers: New Insights from the Crisis / by Peter Backé, Ernest Gnan and Philipp Hartmann

The Quest for Stability: The Financial Stability View / by Morten Balling, Jan Marc Berk and Marc-Olivier Strauss-Kahn

The Quest for Stability: The View of Financial Institutions / by Morten Balling, Jan Marc Berk and Marc-Olivier Strauss-Kahn

The Quest for Stability: The Macro View / by Morten Balling, Jan Marc Berk and Marc-Olivier Strauss-Kahn

Crisis Management at Cross-Roads - Challenges facing cross-border financial institutions at the EU level / by Rym Ayadi, Morten Balling and Frank Lierman

Design, Structure and Implementation of a Modern Deposit Insurance Scheme / by Beat Bernet and Susanna Walter

Productivity in the Financial Services Sector / by Morten Balling, Ernest Gnan, Frank Lierman and Jean-Pierre Schoder

Financing SMEs in Europe / by Morten Balling, Beat Bernet and Ernest Gnan

Current Trends in the Russian Financial System / by Morten Balling

The Failure of Northern Rock: A multi-dimensional Case Study / by Franco Bruni and David T. Llewellyn

Asset Management in Volatile Markets / by Morten Balling, Ernest Gnan and Catherine Lubochinsky

Monetary Policy, Regulation and Volatile Markets / by Morten Balling, Ernest Gnan and Catherine Lubochinsky

Macroeconomic Differentials and Adjustment in the Euro Area / by Iulia Siedschlag

Commodities, Energy and Finance / by Ernest Gnan and Már Gudmundsson

Monetary Policy Transmission in Poland: A Study of the Importance of Interest Rate and Credit Channels / by Tomasz Łyziak, Jan Przystupa and Ewa Wróbel

Governance of Financial Supervisors and its Effects – a Stocktaking Exercise / by Marc Quintyn

Corporate Governance in Financial Institutions / by Spyros G. Stavrinakis; Christian Harm; David T. Llewellyn; Bridget Gandy, Peter Shaw, Peter Tebbutt and Mark Young

Economic Convergence in South-Eastern Europe: Will the Financial Sector deliver? / by Valerie Herzberg and Max Watson

Information and Uncertainty in the Theory of Monetary Policy / by Helmut Wagner

The Adoption of the Euro, Choice of Currency Regime and Integration of Payment Systems / by Michael C. Bonello, George M. von Furstenberg, Kari Kemppainen/Sinikka Salo

Macroeconomic Adjustment in the New EU Member States / by Jürgen von Hagen and Iulia Traistaru-Siedschlag

Measuring Scale Economies in a Heterogeneous Industry: The Case of European Settlement Institutions / by Patrick van Cayseele and Christophe Wuyts

Visions about the Future of Banking / by Hans J. Blommestein

Fiscal Issues in the New EU Member Countries: Prospects and Challenges / by Helmut Wagner

Inflation Targeting and its Effects on Macroeconomic / by Thórarinn G. Pétursson

Internationalization of Banks: Strategic Patterns and Performance / by Alfred Slager

Banking Mergers and Acquisitions in the EU: Overview, Assessment and Prospects / by Rym Ayadi and Georges Pujals

Trends in Competition and Profitability in the Banking Industry: A Basic Framework / by Jacob A. Bikker and Jaap S.B. Bos

Will the Adoption of Basel II Encourage Increased Bank Merger Acticity? Evidence from the United States / by Timothy H. Hannan and Steven J. Pilloff

Two new measures of banking efficiency / Riccardo Brogi and Paolo Santella

From floating to monetary union: The economic distance between exchange rate regimes / Eduard H. Hochreiter and Pierre L. Siklos

Electronic purses in Euroland: Why do penetration and usage rates differ? / by Leo van Hove

Northern and Eastern Enlargement of EMU: Do Structural Reforms Matter? / by Andrew Hughes Hallett, Svend E. Hougaard Jensen and Christian Richter

European Monetary and Financial Integration: Evolution and Prospects / by Jean-Paul Abraham, Franco Bruni, Alexandre Lamfalussy, Roert Raymond, Jean-Claude Trichet

Supervisory Systems, Fiscal Soundness and International Capital Movement, More Challenges for New EU Members / by Andreas Grünbichler and Patrick Darlap, Sinikka Salo, Leslie Lipschitz, Timothy Lane and Alex Mourmouras

Russia’s Financial Markets Boom, Crisis and Recovery 1995-2001 Lessons for Emerging Markets Investors / by Ralph Süppel

Securing Financial Stability: Problems and Prospects for New EU Members / by Michael C. Bonello, Fabrizio Saccomanni, Claudia M. Buch, Jörn Kleinert and Peter Zajc

Monetary and Financial Thinking in Europe: Evidence from Four Decades of SUERF / by Jean-Paul Abraham

The EU Experience in Financial Services Liberalization: A Model for GATS Negotiations? / by Paola Bongini

The Theory of Financial Intermediation, An Essay on What it Does (Not) Explain / by Bert Scholtens and Dick van Wensveen

European Financial Cross-Border Consolidation: At the crossroads in Europe? By exception, evolution or revolution? / by Jean-Paul Abraham & Peter Van Dijcke

Bank Management between Shareholders and Regulators / by Christian Harm

Ongoing Changes in the Business Cycle - Evidence and Causes / by Thomas Dalsgaard, Jørgen Elmeskov, Cyn-Young Park

Is there a Future for Regional Banks and Regional Exchanges? The Strategies of Selected Austrian Finance Institutions / by David T. Llewlleyn, R. Ortner, H. Stepic, St.K. Zapotocky

Banking Internationalisation and the Expansion Strategies of European Banks to Brazil during the 1990s / by Luiz Fernando de Paula

Implications of Globalisation for Monetary Policy / by Helmut Wagner

Financial System Transition in Central Europe: The First Decade / by Thomas Reininger, Franz Schardax and Martin Summer

Italian Mutual Banks: Performance, Efficiency and Mergers and Acquisitions / by Juan Sergio Lopez, Alessandra Appennini, and Stefania P.R. Rossi & Roberto Di Salvo, Maria Carmela Mazzilis,and Andrea Guidi

Reflections on the Regulation of European Securities Markets / by Alexandre Lamfalussy

Investments in Painting: The interaction of monetary return and psychic income / by M.M.G. Fase

Company Financing, Capital Structure, and Ownership: A Survey, and Implications for Developing Economies / by Sanjiva Prasad, Christopher J. Green and Victor Murinde

Central Banking and the Choice of Currency Regime in Accession Countries / by Willem H. Buiter and Clemens Grafe

The Federal Reserve System Discussed: A Comparative Analysis / by M.M.G. Fase and W.F.V. Vanthoor

The Spanish Bank’s Strategy in Latin America / by Miguel Sebastian and Carmen Hernansanz

The New Capital Adequacy Framework - Institutional Constraints and Incentive Structures / by Cem Karacadag and Michael W. Taylor

Strengthening Financial Infrastructure Deposit Insurance and Lending of Last Resort / by Richard Dale; Franco Bruni and Christian de Boissieu

Emerging Stock Markets after the Crises / by Sarah Hewin, John Calverley and Kevin Grice

The New Economics of Banking / by David T. Llewellyn

Towards an Understanding of the Changing Structure of Financial Intermediation: An Evolutionary Theory of Institutional Survival / by Joseph Bisignano

Corporate Governance in Central and Eastern Europe: Transition management is a tough job / by Debora Revoltella and Peter R. Haiss & Gerhard Fink

Does Sweden Need a Mandatory Bid Rule? A Critical Analysis / by Rolf Skog

Governance of stakeholder relationships: The German and Dutch experience / by George M.M. Gelauff and Corina den Broeder

Testimonials and Endorsements

Ewald Nowotny

Ewald Nowotny

Governor, Oesterreichische Nationalbank (2008-2019)

„The Oesterreichische Nationalbank has hosted SUERF’s Secretariat at our premises in Vienna since 2000. Our long-standing co-operation with SUERF has been both a pleasure and of mutual benefit. During this time, we have jointly organised nine workshops, conferences and colloquia. These events have been of consistently high scientific quality and have always addressed topics of immediate interest to central bankers, supervisors, financial firms and academic economists. SUERF successfully creates a joint communication and networking platform among quite distinct groups. SUERF smoothly bridges the gaps in language, concepts, and interests among them, thus creating new perspectives, insights and solutions. What I particularly like about SUERF is the Association’s non-profit, non-partisan attitude: people there seek to facilitate dialogue and new thinking, not to push an agenda or make a profit. We will gladly continue our co-operation, and I warmly recommend membership and support for SUERF.“

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Hyun Song Shin

Hyun Song Shin

Economic Adviser and Head of Research, Monetary and Economic Department, BIS

”SUERF provides a rare setting where economists from academia, central banks and the private sector can debate cutting edge issues and reach insights that are much more than the sum of the individual contributions. Academic studies benefit from the richer institutional setting from practitioners and policymakers, while applied work benefits from the eye on detail and rigour that academics provide. I applaud SUERF’s efforts and expect it to contribute further to the development of the subject.”

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Axel Weber

Axel Weber

Chairman, UBS AG

"SUERF does a great job in identifying the burning issues in central banking, money and finance. SUERF’s mission to bring together academics, policy makers and financial practitioners has become all the more important in the post-crisis environment. SUERF’s highly focused events and publications really add value. It is a network worth supporting and being part of."more »»»

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