SUERF Policy Notes
In September 2015, SUERF launched the SUERF Policy Notes series with focus on current financial, monetary or economic issues, designed for policy makers and financial practitioners, authored by renowned experts.
| Date published | SUERF | Issue | Title | Author(s) |
| 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 Note | No 303 | Energy shocks and corporate performance, the case of Croatia | Ivan Huljak |
| 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 533 | When food bites back: What quarterly firm-level data reveal about food inflation | André Casalis |
| 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 Brief | No 525 | FX intervention to stabilize or manipulate the exchange rate? Inference from profitability | Damiano Sandri |
| Feb 2023 | Policy Brief | No 523 | Into the Universe of Unconventional Monetary Policy: State-dependence, Interaction and Complementarities | Andrejs Zlobins |
| Feb 2023 | Policy Brief | No 522 | Macroprudential FX Regulations: Sacrificing Small Firms for Stability? | María Alejandra Amado |
| 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 |
| 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 506 | Is it easy to hide money in the crypto economy? The case of Russia | Armin Ahari, Johannes Duong, Jakob Hanzl, Elsa Maria Lichtenegger, Lukas Lobnik, Andreas Timel |
| Jan 2023 | Policy Note | No 295 | The interplay between too big to fail policies and why it matters | André Ebner, Christiane Westhoff |
| 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 |
| Jan 2023 | Policy Brief | No 498 | Get your bearings: guidelines for newspaper based economic indicators | Erik Andres-Escayola, Corinna Ghirelli, Luis Molina, Javier Perez, Elena Vidal |
| 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 |
| Dec 2022 | Policy Brief | No 485 | Dynamic Macroeconomic Implications of Immigration | Conny Olovsson, Karl Walentin, Andreas Westermark |
| 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 475 | Do stablecoins alter the monetary policy transmission mechanism? | Pietro Cova, Alessandro Notarpietro, Patrizio Pagano, Massimiliano Pisani |
| Nov 2022 | Policy Brief | No 471 | Environmental and Social Preferences and Investments in Crypto-Assets | Pavel Ciaian, Andrej Cupak, Pirmin Fessler, d’Artis Kancs |
| 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 |
| Nov 2022 | Policy Brief | No 458 | Immigrants and the distribution of income and wealth in the euro area | Maarten Dossche, Aleksandra Kolndrekaj, Maximilian Propst, Javier Ramos Perez, Jiri Slacalek |
| 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 447 | Does the European Central Bank speak differently when in parliament? A comparative textual analysis of the European Central Bank’s speeches in the European Parliament and in press conferences | Nicolò Fraccaroli, Alessandro Giovannini, Jean-François Jamet, Eric Persson |
| 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 |
| Oct 2022 | Policy Brief | No 435 | Using household-level data to guide borrower-based macro-prudential policy | Gastón Andrés Giordana, Michael Heinrich Ziegelmeyer |
| 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 |
| Sep 2022 | Policy Brief | No 411 | Subjective Expectations and Uncertainty | Andrzej Kocięcki, Tomasz Łyziak, Ewa Stanisławska |
| Sep 2022 | Policy Brief | No 410 | Should we trust the credit decisions provided by machine learning models? | Andrés Alonso, José Manuel Carbó |
| 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 398 | Central Banking and Climate Change Policies: It is not Always a Positive Sum Game | Donato Masciandaro, Riccardo Russo |
| Aug 2022 | Policy Brief | No 397 | Unbalanced macroeconomic risks over the business cycle | Martin Iseringhausen, Ivan Petrella, Konstantinos Theodoridis |
| Aug 2022 | Policy Brief | No 395 | Liquidity in bond markets - navigating in troubled waters | Martin Scheicher, Andreas Schrimpf |
| Aug 2022 | Policy Brief | No 393 | Stagflation in the 1970s: lessons for the current situation | Almira Enders, Sebastian Giesen, Dominic Quint |
| Aug 2022 | Policy Brief | No 391 | Why is Swiss inflation low? | GianLuigi Mandruzzato |
| Jul 2022 | Policy Brief | No 382 | What Should the Inflation Target Be? Views from 600 Economists | Gene Ambrocio, Andrea Ferrero, Esa Jokivuolle, Kim Ristolainen |
| Jul 2022 | Policy Brief | No 380 | Old age takes its toll: long-run projections of health-related public expenditure in Luxembourg | Gastón Andrés Giordana, María Noel Pi Alperin |
| 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 377 | What lessons can we learn from the heterogeneity in inflation expectations among economic agents? | Camille Cornand, Paul Hubert |
| 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 372 | Toward a green economy: the role of central bank’s asset purchases | Alessandro Ferrari, Valerio Nispi Landi |
| Jul 2022 | Policy Brief | No 368 | Inflation Expectations and Climate Concern | Christoph Meinerding, Andrea Poinelli, Yves Schüler |
| 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 361 | The influence of financial corporations on IMF lending: Has it changed with the global financial crisis? | Lena Lee Andresen |
| 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 348 | 9 stylized facts on productivity | Andreas Breitenfellner, Robert Holzmann, Richard Sellner, Maria Silgoner, Thomas Zörner |
| 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 343 | Cybersecurity and financial stability | Kartik Anand, Chanelle Duley, Prasanna Gai |
| 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 332 | Analysis of ESG disclosures in Pillar 3 reports. A text mining approach | Angel Iván Moreno, Teresa Caminero García |
| May 2022 | Policy Brief | No 330 | How to regulate crypto currencies | Eduard de Jong |
| May 2022 | Policy Brief | No 328 | Ideology and Monetary Policy: The role of political parties’ stances in the ECB’s parliamentary hearings | Nicolò Fraccaroli, Alessandro Giovannini, Jean-François Jamet, Eric Persson |
| May 2022 | Policy Brief | No 326 | The impact of QE on sovereign risk | Dirk Broeders, Leo de Haan, Jan Willem van den End |
| May 2022 | Policy Brief | No 324 | Uncertainty shocks and the monetary-macroprudential policy mix | Valeriu Nalban, Andra Smădu |
| Apr 2022 | Policy Brief | No 321 | Would a retail CBDC achieve its intended purpose? | Romain Baeriswyl, Samuel Reynard, Alexandre Swoboda |
| Apr 2022 | Policy Brief | No 318 | How do carbon prices spillover along global production networks? | Ivan Frankovic |
| Apr 2022 | Policy Brief | No 314 | Private Debt for SMEs – Market Overview | Helmut Kraemer-Eis, Jörn Block, Antonia Botsari, Salome Gvetadze, Frank Lang, Carlos Krause, Alexandra Moritz, Anna Schulze |
| 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 |
| Apr 2022 | Policy Brief | No 308 | Investor demand in syndicated bond issuances: stylised facts | Martin Hillebrand, Marko Mravlak, Peter Schwendner |
| 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 292 | The role of systemic risk spillovers in the transmission of Euro Area monetary policy | Alexandros Skouralis |
| 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 289 | The pressing need to reform the European crisis management framework | Fernando Restoy |
| Mar 2022 | Policy Note | No 268 | Crisis-tested Europe – Solidarity with Ukraine spurs European identity | Heinz Handler |
| 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 Brief | No 275 | The effectiveness of ECB euro liquidity lines: spillovers and spillbacks | Silvia Albrizio, Iván Kataryniuk, Luis Molina, Jan Schäfer |
| Feb 2022 | Policy Note | No 265 | Austrian conceptions of money and the rise of digital currency | Michael Peneder |
| 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 265 | Has the Impact of the ECB’s Asset Purchases Diminished Over Time? | Andrejs Zlobins |
| Jan 2022 | Policy Brief | No 264 | Why disinflation can be more costly in a small open economy than in a closed economy | Oleksandr Faryna, Magnus Jonsson, Nadiia Shapovalenko |
| 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 |
| Jan 2022 | Policy Brief | No 256 | Operating leverage and its importance during the Covid-19 pandemic | Katharina Allinger, Ivan Huljak |
| 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 244 | Switching-track after the Great Recession | Francesca Vinci, Omar Licandro |
| Dec 2021 | Policy Brief | No 238 | Business Dynamism, Sectoral Reallocation and Productivity in a Pandemic | Guido Ascari, Andrea Colciago, Riccardo Silvestrini |
| Dec 2021 | Policy Brief | No 237 | Does competition reduce agency problems within banks? | Mattia Girotti, Federica Salvadè |
| Nov 2021 | Policy Brief | No 225 | Population aging and the persistence of three key global trends | Andrea Papetti |
| Nov 2021 | Policy Brief | No 222 | Central Bank Digital Currencies, Crypto Currencies, and Anonymity: Economics and Experiments | Emanuele Borgonovo, Stefano Caselli, Alessandra Cillo, Donato Masciandaro, Giovanni Rabitti |
| 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 |
| Nov 2021 | Policy Brief | No 215 | Monetary policy strategies in the New Normal: A model-based analysis for the euro area | Fabio Busetti, Stefano Neri, Alessandro Notarpietro, Massimiliano Pisani |
| Nov 2021 | Policy Brief | No 213 | The role of prudential policy in addressing climate change | Fernando Restoy |
| 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 202 | Revisiting the link between government debt and sovereign interest rates in the euro area | Stéphanie Pamies, Nicolas Carnot, Anda Pătărău |
| 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 177 | Labor adjustment and productivity dynamics: cross-country evidence and policy implications | Maarten Dossche, Andrea Gazzani, Vivien Lewis |
| 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 168 | Monetary Gold and Central Bank Capital | Kenneth Sullivan |
| Aug 2021 | Policy Brief | No 164 | Banks Fearing the Drought? Liquidity Hoarding as a Response to Idiosyncratic Interbank Funding Dry-Ups | Helge C.N. Littke, Matias Ossandon Busch |
| 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 156 | More aware societies suffered less from Covid-19 | Alejandro Buesa, Javier J. Pérez, Daniel Santabárbara |
| 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 145 | It’s in the Tails: The Distributional Income Effects of Monetary Policy | Niklas Amberg, Thomas Jansson, Mathias Klein and Anna Rogantini Picco |
| Aug 2021 | Policy Brief | No 143 | The dynamics of macroeconomic downside risk | By Davide Delle Monache, Andrea De Polis and Ivan Petrella |
| Aug 2021 | Policy Brief | No 142 | Consumption patterns in Italy during COVID-19 | Elisa Guglielminetti and Concetta Rondinelli |
| 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 123 | Five stylized facts on the Great Lockdown | Francesco Grigoli, Daniel Leigh, and Antonio Spilimbergo |
| 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 109 | Quantifying bias and inaccuracy of upper-level aggregation in Harmonised Index of Consumer Prices for Germany and the euro area | By Thomas Knetsch, Julika Herzberg , Patrick Schwind and Sebastian Weinand |
| Jun 2021 | Policy Brief | No 108 | Can central bank communication help to stabilise inflation expectations? | Alexander Jung, Patrick Kuehl |
| Jun 2021 | Policy Note | No 246 | Integrated policy frameworks: The constraints of policy horizons and adjustment frequencies | Claudio Borio and Piti Disyatat |
| Jun 2021 | Policy Brief | No 106 | What consumption habits tell us about the joint dynamics of government bond yields and stock prices internationally | Thomas Nitschka, Shajivan Satkurunathan |
| 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 |
| Jun 2021 | Policy Brief | No 99 | Stress-testing CESEE borrowers in the light of the COVID-19 pandemic | Aleksandra Riedl |
| 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 97 | Stress-Testing Net Trading Income: The Case of European Banks | Carla Giglio, Frances Shaw, Nicolas Syrichas and Giuseppe Cappelletti |
| 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 92 | The pandemic year from a consumer behaviour perspective: The Slovak experience | Milan Gylanik, Viera Mrazikova and Roman Vrbovsky |
| May 2021 | Policy Note | No 238 | Monetary and Fiscal Policy: Privileged powers, entwined responsibilities | Claudio Borio and Piti Disyatat |
| 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 |
| May 2021 | Policy Note | No 235 | Negative Interest Rate Policy – The Experience So Far | Luis Brandao Marques, Marco Casiraghi, Gaston Gelos, Gunes Kamber, Roland Meeks |
| 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 76 | The Impact of COVID-19 on European Banks | Shekhar Aiyar, Mai Chi Dao, Andreas A. Jobst, Aiko Mineshima, Srobona Mitra, Mahmood Pradhan |
| 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 65 | EMU deepening and sovereign debt spreads: using political space to achieve policy space | Iván Kataryniuk, Víctor Mora-Bajén, Javier J. Pérez |
| 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 59 | Whatever it takes to save the planet? Central banks and unconventional green policy | Alessandro Ferrari, Valerio Nispi Landi |
| 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 |
| Mar 2021 | Policy Brief | No 54 | Are lower bank capital requirements an efficient policy tool for supporting credit to SMEs? | Michel Dietsch, Henri Fraisse, Mathias Lé, Sandrine Lecarpentier |
| Feb 2021 | Policy Brief | No 52 | Pandemic Recession, Recovery Plan and Helicopter Money: A Tale from the Serenissima | Charles Goodhart, Donato Masciandaro, Stefano Ugolini |
| Feb 2021 | Policy Brief | No 51 | Digital technologies: a source of a productivity rebound? | Gilbert Cette, Sandra Nevoux, Loriane Py |
| 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 48 | Crisis management for medium-sized banks: the case for a European approach | Andrea Enria |
| Feb 2021 | Policy Brief | No 43 | Nowcasting world GDP growth with high-frequency data | Caroline Jardet, Baptiste Meunier |
| Jan 2021 | Policy Note | No 218 | Interest rate-growth differentials on government debt: an empirical investigation for the euro area | Cristina Checherita-Westphal and João Domingues Semeano |
| 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 |
| Dec 2020 | Policy Note | No 210 | On the risk-adjusted performance of machine learning models in credit default prediction | Andres Alonso, Jose Manuel Carbo |
| Nov 2020 | Policy Note | No 209 | Are equity markets currently overvalued? The role of the time horizon in earnings expectations | Roberto Blanco and Irene Roibás |
| 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 Note | No 199 | Macroeconomic stabilisation when nominal interest rates are constrained: A role for household inflation expectations? | Geoff Kenny, Ioana Duca-Radu, Andreas Reuter |
| 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 |
| Sep 2020 | Policy Note | No 195 | The EU’s “Northern enlargement” 25 years on – stocktaking and some thoughts for the future | Ernest Gnan and Robert Holzmann |
| Aug 2020 | Policy Note | No 190 | Finland and monetary policy through three crises | Tuomas Välimäki and Meri Obstbaum |
| 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 |
| Jul 2020 | Policy Note | No 182 | Europe’s answer to Libra – potential and prerequisites of a programmable euro | Andreas Krautscheid, Tobias Tenner, Siegfried Utzig |
| 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 Note | No 171 | US dollar funding markets during the Covid-19 crisis – the international dimension | Egemen Eren, Andreas Schrimpf, Vladyslav Sushko |
| May 2020 | Policy Brief | No 10 | German Constitutional Court vs ECB: Law, Economics and Politics | Donato Masciandaro |
| May 2020 | Policy Brief | No 9 | ECB needs to finance Corona budget deficits | Paul De Grauwe |
| May 2020 | Policy Brief | No 8 | The currency composition of foreign exchange reserves | Hiro Ito and Robert N McCauley |
| 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 |
| May 2020 | Policy Note | No 161 | Shh, don’t say it! ECB Helicopter Money: Economics and Politics | Donato Masciandaro |
| Apr 2020 | Policy Brief | No 4 | How the economy will recover from the Corona shock | Jörg Krämer and Bernd Weidensteiner |
| Apr 2020 | Policy Note | No 160 | Interlinking Europe’s recovery plan and the next EU budget | Kevin Körner and Barbara Böttcher |
| 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 156 | Navigation tools in the semi-normal corona era | Andy Langenkamp |
| Apr 2020 | Policy Note | No 150 | How deep will it fall? Comparing the euro area recessions of 2020 and 2009 | Andreas Breitenfellner, Paul Ramskogler |
| Apr 2020 | Policy Note | No 149 | A diverse monetary union creates invisible transfers that justify conditional solidarity | Enrico Perotti and Oscar Soons |
| 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 135 | Cost-Efficiency and Productivity of euro area banks | Ivan Huljak, Reiner Martin, Diego Moccero |
| Feb 2020 | Policy Note | No 134 | Regulating fintech: what is going on, and where are the challenges? | Fernando Restoy |
| 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 131 | Populism, Economic Policies and Central Banking: an Overview | Ernest Gnan, Donato Masciandaro |
| 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 |
| Jan 2020 | Policy Note | No 125 | Should central banks also be supervisors: a political economy perspective | Donato Masciandaro |
| Nov 2019 | Policy Note | No 116 | Following “Libra” German banks say: The economy needs a programmable digital euro | Andreas Krautscheid, Tobias Tenner, Siegfried Utzig |
| 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 |
| Oct 2019 | Policy Note | No 104 | On Crypto Assets | Andrei Kirilenko |
| Sep 2019 | Policy Note | No 102 | How to improve crisis management in the banking union: a European FDIC? | Fernando Restoy |
| 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 |
| Jun 2019 | Policy Note | No 75 | The future of financial stability: Maintaining effectiveness while reducing complexity | Andreas Ittner |
| 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 |
| May 2018 | Policy Note | No 33 | Populism and Central Bank Independence | Donato Masciandaro, Francesco Passarelli |
| 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 |
| Nov 2016 | Policy Note | No 8 | Doves, Hawks and Pigeons: Behavioral Monetary Policy Making | Donato Masciandaro |
| May 2016 | Policy Note | No 6 | Bank secrecy in offshore centres, capital flows and blacklisting: It takes two to tango | Donato Masciandaro |
| Feb 2016 | Policy Note | No 4 | Gender diversity and monetary policy | Donato Masciandaro, Paola Profeta, Davide Romelli |
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