SUERF Policy Notes and SUERF Policy Briefs
SUERF Policy Notes & Briefs offer accessible and concise, high-quality, authoritative and informed analysis on topical issues related to European money and finance. They make research by SUERF Member institutions and academic researchers available to the SUERF network and beyond. SUERF Policy Notes & Briefs are published weekly on the SUERF webpage. The views expressed are those of the author(s) and not necessarily those of the institution(s) the author(s) is/are affiliated with.
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| Date published | SUERF | Issue | Title | Author(s) |
| Nov 2023 | Policy Brief | No 741 | ECB Minimum Reserves - 10% or 10% less Government Bonds? | Gunter Deuber, Franz Zobl |
| Nov 2023 | Policy Brief | No 736 | Banks’ credit forecasts excel at rank ordering but miss the evolution of losses | Martin Birn, Renzo Corrias, Christian Schmieder, Nikola Tarashev |
| Nov 2023 | Policy Brief | No 735 | The Road to Paris: stress testing the transition towards a net-zero economy | Tina Emambakhsh, Maximilian Fuchs, Simon Kördel, Charalampos Kouratzoglou, Chiara Lelli, Riccardo Pizzeghello, Carmelo Salleo, Martina Spaggiari |
| Nov 2023 | Policy Brief | No 733 | Superkurtosis: High-frequency trading and risk management | Stavros Degiannakis, George Filis, Grigorios Siourounis |
| Nov 2023 | Policy Brief | No 731 | Monetary policy rules under bounded rationality | Michael Dobrew, Rafael Gerke, Daniel Kienzler, Alexander Schwemmer |
| Nov 2023 | Policy Brief | No 722 | High Debt Levels Can Impede Monetary Policy | Luis Brandao-Marques, Marco Casiraghi, Gaston Gelos, Olamide Harrison, Gunes Kamber |
| Nov 2023 | Policy Brief | No 720 | Forecasting euro area inflation with machine learning models | Michele Lenza, Inés Moutachaker, Joan Paredes |
| Nov 2023 | Policy Brief | No 716 | Who Needs an e-Yuan? | Christian Pfister, Nicolas de Sèze |
| Oct 2023 | Policy Brief | No 710 | Energy price shocks and inflation in the euro area | Stefano Neri, Fabio Busetti, Cristina Conflitti, Francesco Corsello, Davide Delle Monache, Alex Tagliabracci |
| Oct 2023 | Policy Brief | No 707 | The D-model for GDP nowcasting | Stavros Degiannakis |
| Oct 2023 | Policy Brief | No 704 | Is climate policy risk priced in by European stock investors? | Philippe Loyson, Rianne Luijendijk, Sweder van Wijnbergen |
| Oct 2023 | Policy Brief | No 701 | How supply shocks drive disagreement in monetary policy | Carlos Madeira, Joao Madeira, Paulo Santos Monteiro |
| Oct 2023 | Policy Note | No 323 | What An Acceleration of Quantitative Tightening Could Mean For Eurozone Banks | Nicolas Charnay, Pierre Hollegien, Sylvain Broyer, Aude Guez |
| Oct 2023 | Policy Brief | No 693 | Climate risks in Latin America and the Caribbean: are banks ready for the green transition? | Barbara Marchitto, Ricardo Santos, Joana Conde |
| Sep 2023 | Policy Brief | No 683 | Can monetary policy ignore financial stability risks? | Sulkhan Chavleishvili, Manfred Kremer, Frederik Lund-Thomsen |
| Sep 2023 | Policy Brief | No 676 | Cash plays a key role for various groups at risk | Carin van der Cruijsen, Jelmer Reijerink |
| Sep 2023 | Policy Brief | No 675 | How producer price changes transmit into final goods prices | Edvin Ahlander, Mikael Carlsson, Mathias Klein |
| Aug 2023 | Policy Brief | No 668 | Fifty Shades of QE Revisited | Martin Weale, Tomasz Wieladek |
| Aug 2023 | Policy Brief | No 665 | The Economics of Public Policy Leaks: New Evidence from Central Banking | Michael Ehrmann, Phillipp Gnan, Kilian Rieder |
| Aug 2023 | Policy Brief | No 661 | Forecasting banknote circulation during the COVID-19 pandemic using structural time series models | Nikolaus Bartzsch, Marco Brandi, Lucas Devigne, Raymond de Pastor, Gianluca Maddaloni, Diana Posada Restrepo, Gabriele Sene |
| Aug 2023 | Policy Note | No 317 | The European Commission Proposals for Reform of the Stability and Growth Pact: On the right track but not there yet | Jakob de Haan, Fabian Amtenbrink |
| Aug 2023 | Policy Brief | No 657 | The climate change challenge and fiscal instruments and policies in the EU | Aris Avgousti, Francesco Caprioli, Giacomo Caracciolo, Marion Cochard, Pietro Dallari, Mar Delgado-Téllez, João Domingues, Marien Ferdinandusse, Daniela Filip, Carolin Nerlich, Doris Prammer, Katja Schmidt, Anastasia Theofilakou |
| Aug 2023 | Policy Brief | No 653 | Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter? | Mohamed Belkhir, Sami Ben Naceur, Bertrand Candelon, Woon Gyu Choi, Farah Mugrabi |
| Aug 2023 | Policy Brief | No 652 | Rising energy prices and productivity: short-run pain, long-term gain? | Christophe André, Hélia Costa, Lilas Demmou, Guido Franco |
| Aug 2023 | Policy Brief | No 649 | Do non-banks need access to the lender-of-last-resort? Evidence from fund runs | Johannes Breckenfelder, Marie Hoerova |
| Jul 2023 | Policy Brief | No 640 | Solving the enforcement dilemma of the EU fiscal rules | Paul Dermine, Martin Larch |
| Jul 2023 | Policy Brief | No 634 | 2020s vs 1970s: echoes, not a replay | Monica Defend, Vincent Mortier |
| Jul 2023 | Policy Brief | No 630 | Identifying financial fragmentation in the euro area | Jan Kakes, Jan Willem van den End |
| Jul 2023 | Policy Brief | No 627 | Thirty Years Of The EU Single Market: Why Cross-Border Capital Flows Remain Sluggish, Despite Positive Developments | Sylvain Broyer, Aude Guez |
| Jul 2023 | Policy Brief | No 626 | Macroprudential policy in the high inflation environment: Sailing uncharted waters | Carsten Detken, Ján Klacso, Reiner Martin |
| Jun 2023 | Policy Brief | No 624 | CCP initial margin models: A peek under the hood | Ismael Alexander Boudiaf, Martin Scheicher, Francesco Vacirca |
| Jun 2023 | Policy Brief | No 620 | Insights into Credit Loss Rates: A Global Database | Li Lian Ong, Christian Schmieder, Min Wei |
| Jun 2023 | Policy Brief | No 618 | Misallocation and Productivity Growth: a Meta-analysis | Maurice Bun, Theoplasti Kolaiti, Tolga Özden |
| Jun 2023 | Policy Brief | No 614 | After the crypto-winter, the spring of crypto-assets regulation and supervision | Denis Beau |
| Jun 2023 | Policy Brief | No 610 | Climate change risks and the energy and emission allowances market – An analysis based on EMIR data | Merel Vrolijk, Ellen van der Woerd, Elisabeth de Vogel |
| Jun 2023 | Policy Brief | No 609 | The effects of negative interest rates on bank market power: implications for euro area banks’ lending channel and stability | Yener Altunbas, Giuseppe Avignone, Christoffer Kok, Cosimo Pancaro |
| Jun 2023 | Policy Brief | No 607 | The use of surveys for monetary and economic policy | Luigi Federico Signorini |
| May 2023 | Policy Brief | No 594 | Lessons from forecast averaging residential investment | Carlos Cañizares Martínez, Gabe de Bondt, Arne Gieseck |
| May 2023 | Policy Brief | No 590 | Is digitalisation the gamechanger it promised to be for firms’ productivity growth? | Robert Anderton, Vasco Botelho, Paul Reimers |
| May 2023 | Policy Brief | No 589 | The environmental goods and services sector is the keystone of net zero: Let’s subsidize it! | Eric Jondeau, Grégory Levieuge, Jean-Guillaume Sahuc, Gauthier Vermandel |
| May 2023 | Policy Brief | No 582 | Critical metals for the low-carbon transition: macro-financial issues | Stéphane Dees, Simon Dikau, Hugh Miller, Romain Svartzman |
| May 2023 | Policy Brief | No 581 | On the Macroeconomic Effects of Reinvestments in Asset Purchase Programmes | Rafael Gerke, Daniel Kienzler, Alexander Scheer |
| May 2023 | Policy Brief | No 580 | Can machine learning help forecasting fiscal crises in emerging and developing countries? | Raffaele De Marchi, Alessandro Moro |
| Apr 2023 | Policy Brief | No 563 | Regulators as Risk Managers: Macroprudential Policy through a Risk Management Lens | Daniel Dimitrov, Sweder van Wijnbergen |
| Apr 2023 | Policy Brief | No 560 | Evaluating the macroprudential stance in a growth-at-risk framework | Dominic Cucic, Ianna Georgieva Yordanova, Niels Framroze Møller, Simon Gade Søndergaard |
| Mar 2023 | Policy Brief | No 552 | The euro interest rate swap market: Recent trends in trading activity and liquidity | Federico Babbi, Immo Frieden, Martin Scheicher |
| Mar 2023 | Policy Brief | No 547 | Conditional density forecasting: a tempered importance sampling approach | Carlos Montes-Galdón, Joan Paredes, Elias Wolf |
| Mar 2023 | Policy Brief | No 544 | Using machine learning to measure financial risk in China | Alexander Al-Haschimi, Apostolos Apostolou, Andres Azqueta-Gavaldon, Martino Ricci |
| Mar 2023 | Policy Brief | No 540 | The Determinants of Cash Holdings: The case of France | Franz Seitz, Lucas Devigne, Raymond de Pastor |
| Mar 2023 | Policy Brief | No 535 | The fear of job loss as a driver of households’ labour supply | Wouter Gelade, Maud Nautet, Céline Piton |
| Mar 2023 | Policy Brief | No 534 | Modeling Semiconductor Export Restrictions and the US-China Trade Conflict | Michael Funke, Adrian Wende |
| Feb 2023 | Policy Note | No 301 | Consistent economic policies: a prerequisite for macroeconomic stability | Pablo Hernández de Cos |
| Feb 2023 | Policy Brief | No 529 | The effects of monetary policy across fiscal regimes | Roben Kloosterman, Dennis Bonam, Koen van der Veer |
| Feb 2023 | Policy Note | No 300 | Geopolitical scenarios for 2023 and beyond | Franz Eder |
| Feb 2023 | Policy Brief | No 521 | Can Machine Learning Methods Help Nowcast GDP? | Andreas Pick, Jasper de Winter |
| Feb 2023 | Policy Brief | No 519 | Borrower-based regulations push housing demand towards the suburbs | Rikke Rhode Nissen, Alessandro Tang-Andersen Martinello, Simon Juul Hviid, Christian Sinding Bentzen |
| Feb 2023 | Policy Brief | No 518 | ECB Significant-Bank Risk Profile and COVID-19 Crisis Containment Phase: What Approach in the Transitioning Phase? | Bozena Gulija, Costanza Russo, Dalvinder Singh |
| Feb 2023 | Policy Note | No 298 | European Housing Prices: A Sticky, Gradual Decline | Sylvain Broyer, Marion Amiot, Boris S Glass, Aude Guez |
| Feb 2023 | Policy Brief | No 515 | Green Policies and Transition Risk Propagation in Production Networks | Pablo Aguilar, Beatriz González, Samuel Hurtado |
| Jan 2023 | Policy Brief | No 510 | Bank and non-bank balance sheet responses to monetary policy shocks | Fédéric Holm-Hadulla, Falk Mazelis, Sebastian Rast |
| Jan 2023 | Policy Brief | No 509 | EU fiscal rules 2.0, more carrot than stick plus greenwashing? | Matthias Reith, Gunter Deuber |
| Jan 2023 | Policy Brief | No 500 | The use of the Eurosystem’s monetary policy instruments and its monetary policy implementation framework in 2020 and 2021 | Marco Corsi, Yvo Mudde |
| Dec 2022 | Policy Brief | No 496 | New Frontiers in Monetary Policy Communication: Discovering Central Bank Tweeting | Donato Masciandaro, Oana Peia, Davide Romelli |
| Dec 2022 | Policy Brief | No 495 | Asset Purchases and Sovereign Risk Premia in the Euro Area during the Pandemic | Robert Blotevogel, Gergely Hudecz, Elisabetta Vangelista |
| Dec 2022 | Policy Brief | No 491 | Risk sharing and monetary policy transmission | Sebastian Hauptmeier, Fédéric Holm-Hadulla, Théodore Renault |
| Dec 2022 | Policy Brief | No 489 | The impact of portfolio-based green monetary policy | Raphael Abiry, Marien Ferdinandusse, Alexander Ludwig, Carolin Nerlich |
| Nov 2022 | Policy Brief | No 476 | Finance in Africa 2022: Navigating the financial landscape in turbulent times | Colin Bermingham, Barbara Marchitto, Debora Revoltella |
| Nov 2022 | Policy Brief | No 474 | Cost efficiency in the euro area banking sector and the negative interest rate environment | Giuseppe Avignone, Claudia Girardone, Cosimo Pancaro, Livia Pancotto, Alessio Reghezza |
| Nov 2022 | Policy Note | No 292 | The complex task of reforming the EU’s electricity market - Intervention options proposed by the European Commission | Cristian Stet, Pablo Ruiz, Susan Hansen |
| Nov 2022 | Policy Brief | No 459 | Central Bank Communication with the General Public: Challenging, Yet Worthwhile | Alan S. Blinder, Michael Ehrmann, Jakob de Haan, David-Jan Jansen |
| Oct 2022 | Policy Brief | No 456 | Digital players vs. traditional banks: Fierce competition, higher concentration or a trend towards platformization? | Laurent Clerc, Timothée Dufour, Pierre Harguindeguy, Stefano Ungaro |
| Oct 2022 | Policy Brief | No 452 | Are governments inflating their economic forecasts ahead of elections? | Davide Cipullo, André Reslow |
| Oct 2022 | Policy Brief | No 443 | Transition Versus Physical Climate Risk Pricing in European Financial Markets: A Text-Based Approach | Giovanna Bua, Daniel Kapp, Federico Ramella, Lavinia Rognone |
| Oct 2022 | Policy Brief | No 440 | Forced migration and food crises | Federico Carril-Caccia, Jordi Paniagua, Marta Suárez-Varela |
| Oct 2022 | Policy Brief | No 436 | The double materiality of climate physical and transition risks in the euro area | Regis Gourdel, Irene Monasterolo, Nepo Dunz, Andrea Mazzocchetti, Laura Parisi |
| Sep 2022 | Policy Brief | No 432 | Objectified Housing Sales and Rent Prices in Representative Household Surveys: the Impact on Macroeconomic Statistics | M. Denisa Naidin, Sofie R. Waltl, Michael H. Ziegelmeyer |
| Sep 2022 | Policy Brief | No 431 | Consumer Inflation Expectations and Regional Price Changes | Tomasz Łyziak, Michael Pedersen, Ewa Stanisławska |
| Sep 2022 | Policy Brief | No 430 | Central bank capital | Paul Wessels, Dirk Broeders |
| Sep 2022 | Policy Brief | No 429 | Liquidity Coverage Ratios and Monetary Policy Credit in the time of Corona | Viktoriya Gocheva, Yvo Mudde, Jens Tapking |
| Sep 2022 | Policy Brief | No 420 | Smart or Smash? The Effect of Financial Sanctions on Trade in Goods and Services | Tibor Besedeš, Stefan Goldbach, Volker Nitsch |
| Sep 2022 | Policy Brief | No 412 | Natural Gas in Europe: The Potential Impact of Disruptions to Supply | Gabriel Di Bella, Mark Flanagan, Karim Foda, Andrea Pescatori, Alex Pienkowski, Martin Stuermer, Frederik Toscani |
| Aug 2022 | Policy Note | No 285 | From SEPA to the digital euro: payments past, present and future | Johannes Asel, Simone Mingione, Petia Niederlaender, Georg Nitsche |
| Aug 2022 | Policy Brief | No 406 | Sustainable finance data for central banks: a new Irving Fisher Committee survey | Merve Artman, Pierre Bui Quang, Nadia Esham, Nur Izzati, Leah Kling, David Nefzi, Romana Peronaci, Christine Schlitzer, Christian Schmieder, Ömer Kayhan Seyhun, Bruno Tissot, Elena Triebskorn, Huiming Yang |
| Aug 2022 | Policy Brief | No 402 | To Announce or Not To Announce: Basic Trade-offs in Public Debt Management | Alexander Dentler, Enzo Rossi |
| Aug 2022 | Policy Brief | No 399 | The effects of internationally coordinated carbon pricing on the economy and welfare | Anne Ernst, Natascha Hinterlang, Alexander Mahle, Nikolai Stähler |
| Aug 2022 | Policy Brief | No 394 | Flexibility in Asset Purchases: A Structural Analysis | James Costain, Galo Nuño, Carlos Thomas |
| Aug 2022 | Policy Brief | No 393 | Stagflation in the 1970s: lessons for the current situation | Almira Enders, Sebastian Giesen, Dominic Quint |
| Jul 2022 | Policy Brief | No 379 | Firms’ Inflation Expectations: New Evidence from France | Olivier Coibion, Erwan Gautier, Yuriy Gorodnichenko, Frédérique Savignac |
| Jul 2022 | Policy Brief | No 375 | A shot in the arm: stimulus packages and firm performance during COVID-19 | Deniz Igan, Ali Mirzaei, Tomoe Moore |
| Jul 2022 | Policy Brief | No 367 | The Eurosystem’s bond market share at an all-time high: what does it mean for repo markets? | Tomás Carrera de Souza, Tom Hudepohl |
| Jun 2022 | Policy Brief | No 359 | Scarring effects of major economic downturns: The role of fiscal policy and government investment | Martin Larch, Peter Claeys, Wouter van der Wielen |
| Jun 2022 | Policy Brief | No 355 | Japan’s Sovereign Rating in the Post-Pandemic Era: Quo Vadis? | Jinho Choi, Alexander den Ruijter, Kimi Xu Jiang, Edmund Moshammer |
| Jun 2022 | Policy Brief | No 353 | How Bad Can Financial Crises Be? A GDP Tail Risk Assessment for Portugal | Ivan De Lorenzo Buratta, Marina Feliciano, Duarte Maia |
| Jun 2022 | Policy Brief | No 352 | An innovative new measure of human capital to better assess the link between education policies and productivity | Balázs Égert, Christine de la Maisonneuve, David Turner |
| Jun 2022 | Policy Brief | No 345 | Can banks weather the green transition? The financial risks of increasingly stringent climate policies | Marco Belloni, Friderike Kuik, Luca Mingarelli |
| Jun 2022 | Policy Brief | No 342 | Making Subsidies Work: Rules vs. Discretion | Federico Cingano, Filippo Palomba, Paolo Pinotti, Enrico Rettore |
| May 2022 | Policy Brief | No 336 | Business resilience in the pandemic and beyond: Adaptation, innovation, financing and climate action from Eastern Europe to Central Asia | Luca Gattini, Rozália Pál, Helena Schweiger, Laura Valderrama |
| May 2022 | Policy Brief | No 333 | The effect of introducing a Loan-to-Value limit on homeownership | Cindy Biesenbeek, Mauro Mastrogiacomo, Rob Alessie, Jakob de Haan |
| May 2022 | Policy Brief | No 331 | Caution: Do not cross! Distance to regulatory capital buffers and lending in Covid-19 times | Cyril Couaillier, Marco Lo Duca, Alessio Reghezza, Costanza Rodriguez d’Acri |
| May 2022 | Policy Brief | No 330 | How to regulate crypto currencies | Eduard de Jong |
| May 2022 | Policy Brief | No 326 | The impact of QE on sovereign risk | Dirk Broeders, Leo de Haan, Jan Willem van den End |
| Apr 2022 | Policy Brief | No 313 | From open banking to open finance | Denis Beau |
| Apr 2022 | Policy Brief | No 310 | Insurers’ investments before and after the COVID-19 outbreak | Federico Apicella, Raffaele Gallo, Giovanni Guazzarotti |
| Mar 2022 | Policy Brief | No 306 | ECB Communication and its Impact on Financial Markets | Klodiana Istrefi, Florens Odendahl, Giulia Sestieri |
| Mar 2022 | Policy Note | No 271 | Financial stability and crypto-assets | Pablo Hernández de Cos |
| Mar 2022 | Policy Brief | No 296 | The political economy of reforms in central bank design | Davide Romelli |
| Mar 2022 | Policy Brief | No 290 | Should monetary finance remain taboo? | Itai Agur, Damien Capelle, Giovanni Dell’Ariccia, Damiano Sandri |
| Mar 2022 | Policy Brief | No 285 | Why the impact of the health crisis in 2020 was uneven across the euro area economies? | Ángel Luis Gómez, Ana del Río |
| Feb 2022 | Policy Brief | No 281 | GDP-linked bonds and the fear of ambiguity | Deniz Igan, Taehoon Kim, Antoine Levy |
| Feb 2022 | Policy Brief | No 278 | The Political Phillips Curve in the Euro Area: Parliamentary Voice on ECB Monetary Policy | Federico M. Ferrara, Donato Masciandaro, Manuela Moschella, Davide Romelli |
| Feb 2022 | Policy Note | No 265 | Austrian conceptions of money and the rise of digital currency | Michael Peneder |
| Feb 2022 | Policy Brief | No 272 | Global models for a global pandemic: the impact of COVID-19 on small euro area economies | Pablo Garcia, Pascal Jacquinot, Črt Lenarčič, Matija Lozej, Kostas Mavromatis |
| Feb 2022 | Policy Brief | No 269 | Recovery as a springboard for change | Debora Revoltella, Tessa Bending, Atanas Kolev |
| Feb 2022 | Policy Note | No 264 | High earners in the European banking sector | Emma-Faye Dertnig, Jakob Hanzl, Mario Hübler, Christoph Prenner |
| Jan 2022 | Policy Brief | No 261 | Firm financing and public liquidity measures during the pandemic | Ida Rommedahl Julin, Andreas Kuchler, Alexander Meldgaard Otte |
| Jan 2022 | Policy Brief | No 258 | Why have interest rates fallen far below the return on capital? | Magali Marx, Benoît Mojon, François R. Velde |
| Dec 2021 | Policy Brief | No 253 | Money market funds in the euro area: Vulnerabilities and the role of macroprudential policy | Tom Hudepohl, Jeroen Huiting, Annelie Petersen |
| Dec 2021 | Policy Brief | No 250 | Big techs in finance: a new trade-off between efficiency and privacy | Frederic Boissay, Torsten Ehlers, Leonardo Gambacorta, Hyun Song Shin |
| Dec 2021 | Policy Note | No 260 | Identifying lessons from the current crisis for the prudential framework of the banking system | Pablo Hernández de Cos |
| Dec 2021 | Policy Brief | No 248 | Africa and COVID-19: Can the financial sector stay on course for a green and digital future? | Debora Revoltella, Claudio Cali, Barbara Marchitto, Nina Fenton, Ricardo Santos |
| Dec 2021 | Policy Brief | No 246 | Public trust only partly immune to COVID-19 pandemic | Carin van der Cruijsen, Jakob de Haan, Nicole Jonker |
| Dec 2021 | Policy Brief | No 237 | Does competition reduce agency problems within banks? | Mattia Girotti, Federica Salvadè |
| Nov 2021 | Policy Brief | No 219 | How do banks propagate economic shocks? | Yusuf Emre Akgündüz, Seyit Mümin Cılasun, H. Özlem Dursun-de Neef, Yavuz Selim Hacıhasanoğlu, İbrahim Yarba |
| Oct 2021 | Policy Brief | No 205 | Mind the promotional gap! Climate-related financial policies and institutional dynamics | Moritz Baer, Emanuele Campiglio, Jérôme Deyris |
| Oct 2021 | Policy Brief | No 203 | The reform of the EU’s fiscal governance framework in a new macroeconomic environment | Mario Alloza, Javier Andrés, Pablo Burriel, Iván Kataryniuk, Javier J. Pérez, Juan Luis Vega |
| Oct 2021 | Policy Brief | No 201 | Basel III implementation in the European Union | Pablo Hernández de Cos |
| Oct 2021 | Policy Brief | No 200 | The highly heterogeneous impact of the Covid-19 crisis on French firms | Benjamin Bureau, Anne Duquerroy, Julien Giorgi, Mathias Lé, Suzanne Scott, Frédéric Vinas |
| Oct 2021 | Policy Brief | No 197 | How to Design a CBDC? Remuneration, Collateral Haircuts and Quantity Constraints | Katrin Assenmacher, Aleksander Berentsen, Claus Brand, Nora Lamersdorf |
| Sep 2021 | Policy Brief | No 188 | The Path to Euro Area and Banking Union Membership: Assessing the Incentives for “Close Cooperation” and Adherence to the Exchange Rate Mechanism II | Maria J. Nieto, Dalvinder Singh |
| Sep 2021 | Policy Brief | No 182 | The FX Global Code | Guy Debelle |
| Sep 2021 | Policy Note | No 256 | Ultra low interest rates from the perspective of a central banker | Lars Rohde |
| Sep 2021 | Policy Note | No 253 | Raising r*: Why, how, and if not now, when? | Robert Holzmann, Maria T. Valderrama |
| Sep 2021 | Policy Brief | No 176 | Does the ECB’s monetary policy react to the balance of risks? | Philippine Cour-Thimann, Alexander Jung |
| Sep 2021 | Policy Brief | No 170 | Pension funds’ portfolio choices and investment beliefs | Dirk Broeders, Kristy Jansen |
| Aug 2021 | Policy Brief | No 163 | Heterogeneous firm-level impact and responses to the COVID-19 crisis | Alejandro Fernández-Cerezo, Beatriz González, Mario Izquierdo, Enrique Moral-Benito |
| Aug 2021 | Policy Brief | No 152 | Patchy data is a good start: from Kuznets and Clark to supervisors and climate | Frank Elderson |
| Aug 2021 | Policy Brief | No 150 | Digital euro has potential in the Netherlands | Michiel Bijlsma, Carin van der Cruijsen, Nicole Jonker and Jelmer Reijerink |
| Aug 2021 | Policy Brief | No 148 | The role of information channels and experience for households’ inflation expectations | Christian Conrad, Zeno Enders and Alexander Glas |
| Aug 2021 | Policy Note | No 251 | Green Liquidity Moves Mainstream | Patrick Drury Byrne, Sandeep Chana and Sylvain Broyer |
| Aug 2021 | Policy Note | No 250 | Roads for the future: Central Bank Digital Currency (CBDC) and Innovative Payments | François Villeroy de Galhau |
| Aug 2021 | Policy Brief | No 143 | The dynamics of macroeconomic downside risk | By Davide Delle Monache, Andrea De Polis and Ivan Petrella |
| Jul 2021 | Policy Brief | No 133 | Evidence of a macroeconomic reversal rate | Paul Konietschke, Anna Samarina, Irina Stanga, Jan Willem van den End |
| Jul 2021 | Policy Brief | No 128 | Effects of a European Unemployment Benefit Scheme on consumption risk sharing and production efficiency | Zeno Enders, David Vespermann |
| Jul 2021 | Policy Brief | No 122 | Barriers to net zero: How firms can make or break the green transition | Ralph De Haas, Ralf Martin, Mirabelle Muûls, Helena Schweiger |
| Jul 2021 | Policy Brief | No 120 | What is the true resilience of our financial systems to climate change with the buffers we currently have? | Alejandro Díaz de León |
| Jun 2021 | Policy Brief | No 116 | The euro area sovereign debt markets in the crisis: role and impact on financial stability perspectives | Denis Beau |
| Jun 2021 | Policy Brief | No 108 | Can central bank communication help to stabilise inflation expectations? | Alexander Jung, Patrick Kuehl |
| Jun 2021 | Policy Brief | No 104 | The Economic Case for Global Vaccinations: An Epidemiological Model with International Production Networks | Cem Çakmaklı, Selva Demiralp, Şebnem Kalemli-Özcan, Sevcan Yeşiltaş, Muhammed A. Yıldırım |
| Jun 2021 | Policy Brief | No 102 | Assessing the impact of Basel III: Evidence from macroeconomic models | Olivier de Bandt, Bora Durdu, Hibiki Ichiue, Yasin Mimir, Jolan Mohimont, Kalin Nikolov, Sigrid Röhrs, Jean-Guillaume Sahuc, Valerio Scalone, Michael Straughan |
| May 2021 | Policy Note | No 241 | Digital Disruption: The Inevitable Rise of CBDC | Chetan Ahya, Derrick Kam, Julian Richers |
| May 2021 | Policy Brief | No 98 | Detecting turning point in the Danish economy in real time – nowcasting in Danmarks Nationalbank during the covid-19 crisis | Jesper Pedersen |
| May 2021 | Policy Brief | No 93 | Set-up costs and the financing of young firms | François Derrien, Jean-Stéphane Mésonnier, Guillaume Vuillemey |
| May 2021 | Policy Brief | No 88 | Strengthening the international role of the euro | Gergely Hudecz, Gong Cheng, Edmund Moshammer, Alexander Raabe |
| May 2021 | Policy Note | No 236 | Europe’s growth gap: reconciling Keynes and Schumpeter | François Villeroy de Galhau |
| May 2021 | Policy Brief | No 85 | Navigating the Digital Transition, Maintaining a Stable Payment System | Denis Beau |
| Apr 2021 | Policy Brief | No 80 | Fed’s financial stability concerns and monetary policy | Klodiana Istrefi, Florens Odendahl, Giulia Sestieri |
| Apr 2021 | Policy Brief | No 77 | Smoke and Mirrors: On cancelling public debts held by the Eurosystem | Jef Boeckx and Xavier Debrun |
| Apr 2021 | Policy Brief | No 75 | Europe: the shock of Covid-19 and the fear of accelerated zombification | Hélène Baudchon, Louis Boisset, Guillaume Derrien, Kenza Charef |
| Apr 2021 | Policy Brief | No 74 | The Great Depression, banking crisis, and Keynes’ paradox of thrift | Victor Degorce, Eric Monnet |
| Apr 2021 | Policy Brief | No 68 | Banking union - achievements and challenges | Luis de Guindos |
| Apr 2021 | Policy Note | No 231 | The challenges to the banking sector a year after the outbreak of the COVID-19 pandemic | Pablo Hernández de Cos |
| Apr 2021 | Policy Brief | No 61 | A backstop liquidity facility for a greener economy | Eric Jondeau, Benoit Mojon, Cyril Monnet |
| Mar 2021 | Policy Brief | No 58 | Next Generation EU: can we do better? | Lorenzo Codogno, Paul van den Noord |
| Mar 2021 | Policy Brief | No 57 | Central bank communication with the general public: effective or not? | Nils Brouwer, Jakob de Haan |
| Mar 2021 | Policy Brief | No 55 | Debt cancellation by the ECB: Does it make a difference? | Paul de Grauwe |
| Feb 2021 | Policy Note | No 225 | Sharing Economy in the Financial Industry: A Platform Approach towards Sharing in Regulatory Reporting using the Shapley Value | Aaron Janowski, Moritz Plenk, Mirko Haselwander |
| Feb 2021 | Policy Brief | No 49 | Should developed economies manage international capital flows? An empirical and welfare analysis | Dennis Bonam, Gavin Goy, Emmanuel de Veirman |
| Feb 2021 | Policy Brief | No 43 | Nowcasting world GDP growth with high-frequency data | Caroline Jardet, Baptiste Meunier |
| Dec 2020 | Policy Note | No 214 | 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 |
| Dec 2020 | Policy Note | No 213 | COVID-19 pandemic: Perception, confusion and conspiracies | Stefan Schneider |
| Dec 2020 | Policy Brief | No 39 | Thriving in a post-pandemic world | Debora Revoltella, Pedro de Lima |
| Dec 2020 | Policy Brief | No 38 | Limits of the Market | Paul De Grauwe |
| Dec 2020 | Policy Note | No 211 | Preparing for a higher inflation regime | Elga Bartsch, Jean Boivin, Philipp Hildebrand |
| Nov 2020 | Policy Note | No 208 | The world economy under Covid-19: Can emerging market economies keep the engine running? | Kristel Buysse, Dennis Essers |
| Oct 2020 | Policy Note | No 202 | Policy revolution | Elga Bartsch, Jean Boivin, Stanley Fischer, Philipp Hildebrand |
| Oct 2020 | Policy Note | No 201 | Central banks’ response to the “tragedy on the horizon” | François Villeroy de Galhau |
| Oct 2020 | Policy Brief | No 33 | Update of the European Fiscal Monitor (September 2020) | Willem-Pieter de Groen, Inna Oliinyk |
| Oct 2020 | Policy Brief | No 31 | 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 |
| Aug 2020 | Policy Brief | No 23 | Eurozone in times of Covid-19: Debt monetisation by stealth | Peter Vanden Houte |
| Jul 2020 | Policy Note | No 185 | The Macroeconomic Impact of NPLs in Euro Area Countries | Ivan Huljak, Reiner Martin, Diego Moccero, Cosimo Pancaro |
| Jul 2020 | Policy Note | No 184 | Special Update of the European Fiscal Monitor | Willem-Pieter de Groen, Inna Oliinyk, Sander van Veldhuizen |
| Jul 2020 | Policy Brief | No 20 | How firms are adapting to the lockdown: insights from text mining | Mathilde Gerardin, Martial Ranvier |
| Jul 2020 | Policy Note | No 183 | Retail Central Bank Digital Currencies: means of payment vs store of value | Santiago Fernández de Lis, Pablo Urbiola |
| Jun 2020 | Policy Note | No 179 | The need for a new financial architecture after CORONA, an opinion | Freddy Van den Spiegel |
| May 2020 | Policy Note | No 172 | Does the EU convergence machine still work and how will the Covid-19 crisis impact it? | Patrick Bisciari, Dennis Essers, Evelien Vincent |
| May 2020 | Policy Brief | No 9 | ECB needs to finance Corona budget deficits | Paul De Grauwe |
| May 2020 | Policy Note | No 162 | 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 |
| May 2020 | Policy Brief | No 7 | Covid-19 policy response and the role of the EIB | Debora Revoltella |
| Apr 2020 | Policy Brief | No 4 | How the economy will recover from the Corona shock | Jörg Krämer and Bernd Weidensteiner |
| Apr 2020 | Policy Brief | No 3 | What central banks have done to help the economy survive Covid-19 | Florens Odendahl, Adrian Penalver, and Urszula Szczerbowicz |
| Apr 2020 | Policy Brief | No 2 | Politics and Economics of Global Currencies | Paul De Grauwe |
| Apr 2020 | Policy Note | No 148 | Reflections on the health and financial crisis | Jacques de Larosière |
| Apr 2020 | Policy Note | No 147 | Does It Fit? Tweeting on Monetary Policy and Central Bank Communication | Donato Masciandaro, Davide Romelli, Gaia Rubera |
| Mar 2020 | Policy Note | No 139 | Capital Regulations and the Management of Credit Commitments during Crisis Times | Paul Pelzl, María Teresa Valderrama |
| Feb 2020 | Policy Note | No 133 | Making sure your bot colleague is less biased than you! | Frank De Jonghe |
| Feb 2020 | Policy Note | No 132 | The European Banking Union | Margarita Delgado |
| Feb 2020 | Policy Note | No 129 | How Could Central Bank Digital Currencies Be Designed? | Itai Agur, Anil Ari, Giovanni Dell’Ariccia |
| Jan 2020 | Policy Note | No 127 | Europe’s role in the global financial system | Luis de Guindos |
| Nov 2019 | Policy Note | No 113 | Ten years after Lehman, is the financial system safer? | Denis Beau |
| Oct 2019 | Policy Note | No 105 | Dealing with the next downturn: From unconventional monetary policy to unprecedented policy coordination | Elga Bartsch, Jean Boivin, Stanley Fischer, Philipp Hildebrand |
| Sep 2019 | Policy Note | No 98 | Making the most of the EMU: Challenges and opportunities for structural reforms | Luiz de Mello |
| Sep 2019 | Policy Note | No 93 | European Economic and Monetary Union: from the Past into the Future | Jean-Claude Trichet |
| Aug 2019 | Policy Note | No 90 | Restricting or Abolishing Cash: An Effective Instrument for Eliminating the Shadow Economy, Corruption and Terrorism? | Friedrich Schneider |
| Apr 2019 | Policy Note | No 64 | The Euro Area: Staying the Course through Uncertainties | François Villeroy de Galhau |
| Apr 2019 | Policy Note | No 63 | The Euro Area: Creating a Stronger Economic Ecosystem | Christine Lagarde |
| Feb 2019 | Policy Note | No 57 | Creating an enabling environment for innovation and digitalisation | Debora Revoltella, Tim Bending, Christoph Weiss, Philipp-Bastian Brutscher |
| Jan 2019 | Policy Note | No 52 | Monetary Policy beyond normalization | Maria Demertzis |
| Jan 2019 | Policy Note | No 51 | Africa needs investments beyond its pockets of growth | Olivier de Boysson, Clément Gillet |
| Dec 2018 | Policy Note | No 49 | Bank business models: time to act | Rudi Vander Vennet |
| Oct 2018 | Policy Note | No 43 | A Green Supporting Factor — The Right Policy? | Jacob Dankert, Lars van Doorn, Henk Jan Reinders, Olaf Sleijpen |
| Nov 2017 | Policy Note | No 21 | Risk sharing in EMU: key insights from a literature review | Demosthenes Ioannou, David Schäfer |
| Aug 2017 | Policy Note | No 15 | Technological Change and the Future of Cash | François R. Velde |
| Feb 2016 | Policy Note | No 4 | Gender diversity and monetary policy | Donato Masciandaro, Paola Profeta, Davide Romelli |
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