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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.

To submit your findings to the SUERF Policy Note and Brief series please contact suerf@oenb.at.

All SUERF Policy Notes & Briefs  are available in PDF format.

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Date publishedSUERFIssueTitleAuthor(s)
May 2023Policy NoteNo 311Getting up from the floorClaudio Borio
Apr 2023Policy NoteNo 307Back to normal? Balance sheet size and interest rate controlIsabel Schnabel
Sep 2022Policy NoteNo 287Monetary policy and the Great VolatilityIsabel Schnabel
Jun 2022Policy BriefNo 355Japan’s Sovereign Rating in the Post-Pandemic Era: Quo Vadis?Jinho Choi, Alexander den Ruijter, Kimi Xu Jiang, Edmund Moshammer
Mar 2022Policy BriefNo 301Is the ECB applying lessons from the past?Anselm Küsters
Mar 2022Policy BriefNo 300Household saving and fiscal policy: Evidence for the euro area from a thick modelling perspectiveCristina Checherita-Westphal, Marcel Stechert
Jan 2022Policy BriefNo 262Choosing the European fiscal ruleGinters Bušs, Patrick Grüning, Oļegs Tkačevs
Nov 2021Policy BriefNo 234Optimism is bad for fiscal outcomesMartin Larch, Janis Malzubris, Matthias Busse
Nov 2021Policy BriefNo 225Population aging and the persistence of three key global trendsAndrea Papetti
Oct 2021Policy BriefNo 198Why did the pass-through from labor cost to price inflation decline in the US?Elena Bobeica, Matteo Ciccarelli, Isabel Vansteenkiste
Sep 2021Policy BriefNo 183Central bank’s financial result and inter-sectoral transfers of benefitsKrzysztof Kruszewski, Mikołaj Szadkowski
Sep 2021Policy BriefNo 179The relevance of trade policy: Evidence from the 19th centuryJacopo Timini
Sep 2021Policy NoteNo 254Fiscal-Monetary Crosswinds in the Euro AreaLucrezia Reichlin, Giovanni Ricco, Matthieu Tarbé
Sep 2021Policy NoteNo 253Raising r*: Why, how, and if not now, when?Robert Holzmann, Maria T. Valderrama
Aug 2021Policy BriefNo 168Monetary Gold and Central Bank CapitalKenneth Sullivan
Aug 2021Policy BriefNo 166Record global FX reserves after COVID shockMichael S Hanson
Jul 2021Policy BriefNo 140How green is your budget? Green budgeting practices in the EUElva Bova
Jul 2021Policy BriefNo 128Effects of a European Unemployment Benefit Scheme on consumption risk sharing and production efficiencyZeno Enders, David Vespermann
Jul 2021Policy BriefNo 124Global Financial Uncertainty: Does it Matter for the Global Business Cycle?Giovanni Caggiano, Efrem Castelnuovo
Jun 2021Policy BriefNo 102Assessing the impact of Basel III: Evidence from macroeconomic modelsOlivier de Bandt, Bora Durdu, Hibiki Ichiue, Yasin Mimir, Jolan Mohimont, Kalin Nikolov, Sigrid Röhrs, Jean-Guillaume Sahuc, Valerio Scalone, Michael Straughan
Jun 2021Policy BriefNo 100Shocks to bank capital as a driver of lending standards to corporates. What can macroprudential policy learn from bank lending surveys?Ewa Wróbel
Jun 2021Policy NoteNo 243What does research say about the effects of central bank balance sheet policies?Paola Di Casola
Apr 2021Policy BriefNo 77Smoke and Mirrors: On cancelling public debts held by the EurosystemJef Boeckx and Xavier Debrun
Apr 2021Policy BriefNo 62The way forward for EU-wide stress testsPedro Duarte Neves
Mar 2021Policy BriefNo 56On the Origin of Systemic RiskMattia Montagna, Giovanni Covi, Gabriele Torri
Mar 2021Policy BriefNo 55Debt cancellation by the ECB: Does it make a difference?Paul de Grauwe
Oct 2020Policy NoteNo 201Central banks’ response to the “tragedy on the horizon”François Villeroy de Galhau
Oct 2020Policy NoteNo 200Finding the Right “Hall of Mirrors”: The Mixed Blessings of Lessons from the Past for Shaping a Post-COVID FutureRobert Holzmann
Sep 2020Policy NoteNo 195The EU’s “Northern enlargement” 25 years on – stocktaking and some thoughts for the futureErnest Gnan and Robert Holzmann
Aug 2020Policy BriefNo 23Eurozone in times of Covid-19: Debt monetisation by stealthPeter Vanden Houte
Aug 2020Policy NoteNo 186European Recovery Fund: Sceptics Q&AReza Moghadam, Jacob Nell, Joao Almeida, Bruna Skarica, Markus Guetschow
Aug 2020Policy BriefNo 22Radical UncertaintyJohn Kay
Jun 2020Policy BriefNo 15There is nothing magic in central bank moneyJean Barthélemy, Adrian Penalver
May 2020Policy NoteNo 170International inflation co-movementsPhilip R. Lane
May 2020Policy BriefNo 9ECB needs to finance Corona budget deficitsPaul De Grauwe
May 2020Policy BriefNo 5An EU Recovery Fund: How to square the circle?Kajus Hagelstam, Alice Zoppè, Cristina Sofia Dias
Apr 2020Policy NoteNo 160Interlinking Europe’s recovery plan and the next EU budgetKevin Körner and Barbara Böttcher
Nov 2019Policy NoteNo 111Reforming the Stability and Growth Pact: Striving for sustainability while offering room for manoeuvreKarsten Wendorff
Jun 2019Policy NoteNo 81Bilateral Trade Balances Under FocusFlorence Jaumotte
Feb 2019Policy NoteNo 55Europe needs reforms for inclusive growth. Do Europeans agree?Pier Carlo Padoan
Jun 2018Policy NoteNo 38The future for central bank balance sheets and their potential use as a macroprudential toolPaul Fisher
Jun 2018Policy NoteNo 37A solid common landing ground for EMUJeroen Dijsselbloem
Mar 2018Policy NoteNo 28Credit conditions and corporate investment in EuropeLaurent Maurin, Rozalia Pal, Philipp-Bastian Brutscher
Feb 2018Policy NoteNo 27Euro area quantitative easing: Large volumes, small impact?Daniel Gros
Jan 2018Policy NoteNo 23The occasional importance of the current account in an era of a global savings glutJesper Berg, Steffen Lind
Jun 2017Policy NoteNo 13The political economy of central banking in the digital ageSir Paul Tucker
May 2017Policy NoteNo 12(No) worries about the new shape of international capital flowsMatthieu Bussiére, Julia Schmidt, Natacha Valla
May 2016Policy NoteNo 7Ten Myths in the Brexit DebateDavid T. Llewellyn
Apr 2016Policy NoteNo 5Some seeming paradoxes or interesting points of Russia’s economy and banking sectorStephan Barisitz

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