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) |
| Jun 2023 | Policy Note | No 313 | Monetary and financial stability – can they be separated? | Isabel Schnabel |
| Jun 2023 | Policy Note | No 312 | Empowering central bank money for a digital future | Martin Diehl, Constantin Drott |
| Jun 2023 | Policy Brief | No 602 | Assessing the “Tragedy of the Horizons”: Conceptual underpinnings of the NGFS scenarios and suggestions for improvement | Irene Monasterolo, María J. Nieto, Edo Schets |
| Jun 2023 | Policy Brief | No 601 | What are the short-to-medium-term effects of extreme weather on the Croatian economy? | Tihana Škrinjarić |
| Jun 2023 | Policy Brief | No 600 | Navigating the Tightrope: Balancing Financial Stability and Inflation in the Age of Persistent Financial Cycles and Crises | Thore Kockerols, Erling Motzfeldt Kravik, Yasin Mimir |
| Jun 2023 | Policy Brief | No 599 | Measuring the Temporal Dimension of Text: An Application to Policymaker Speeches | David Byrne, Robert Goodhead, Michael McMahon, Conor Parle |
| May 2023 | Policy Brief | No 597 | Boosting the Green Transition: Greenhouse gas emissions and bank lending | Koji Takahashi, Junnosuke Shino |
| May 2023 | Policy Brief | No 596 | Reforming the Monetary System for the Digital Age | Burkhard Drees, Sunil Sharma |
| May 2023 | Policy Brief | No 595 | Don’t blame the government!? An assessment of debt forecast errors with a view to the Economic Governance Review | Alena Bachleitner, Doris Prammer |
| May 2023 | Policy Brief | No 593 | How often and how much do food prices change during periods of high inflation – an analysis of online prices in Austria | Christian Beer, Robert Ferstl, Bernhard Graf, Fabio Rumler |
| May 2023 | Policy Brief | No 591 | What to expect after “effortless” debt reduction in the euro area? | Matthias Reith |
| 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 587 | CBDC Policies in Open Economies | Michael Kumhof, Marco Pinchetti, Phurichai Rungcharoenkitkul, Andrej Sokol |
| May 2023 | Policy Brief | No 586 | The Big Problem of Small Syndicates | Mingze Gao, Iftekhar Hasan, Buhui Qiu, Eliza Wu |
| May 2023 | Policy Brief | No 584 | Euro Area inflation differentials: the role of fiscal policies revisited | Cristina Checherita-Westphal, Nadine Leiner-Killinger, Teresa Schildmann |
| 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 |
| May 2023 | Policy Brief | No 578 | The effectiveness of green collateral policy as an instrument of climate policy | Francesco Giovanardi, Matthias Kaldorf, Lucas Radke, Florian Wicknig |
| Apr 2023 | Policy Brief | No 573 | Moving apart – the financial sectors in UK and EU post-Brexit | Thorsten Beck, Christy Ann Petit |
| Apr 2023 | Policy Brief | No 572 | House prices and ultra-low interest rates: Exploring the non-linear nexus | Daniel Dieckelmann, Hannah S. Hempell, Barbara Jarmulska, Jan Hannes Lang, Marek Rusnák |
| Apr 2023 | Policy Brief | No 571 | Has the euro changeover really caused extra inflation in Croatia? | Matteo Falagiarda, Christine Gartner, Ivan Mužić, Andreja Pufnik |
| Apr 2023 | Policy Brief | No 569 | Window dressing of Regulatory Metrics: Evidence from Repo Markets | Claudio Bassi, Markus Behn, Michael Grill, Martin Waibel |
| Apr 2023 | Policy Brief | No 567 | Catching the green-tech train: technology and climate change mitigation | Claire Alestra, Gilbert Cette, Valérie Chouard, Rémy Lecat |
| Apr 2023 | Policy Brief | No 566 | Dump the Hump: How Education Impacts Consumption Smoothing and Macroeconomic Outcomes | Svend E. Hougaard Jensen, Sigurdur P. Olafsson, Thorsteinn S. Sveinsson, Gylfi Zoega |
| Apr 2023 | Policy Note | No 309 | The Digital Euro (CBDC) as a Monetary Anchor of the Financial System | Peter Bofinger, Thomas Haas |
| Apr 2023 | Policy Brief | No 564 | The Stability and Growth Pact three decades later | Juhana Hukkinen, Matti Viren |
| Apr 2023 | Policy Note | No 307 | Back to normal? Balance sheet size and interest rate control | Isabel Schnabel |
| Apr 2023 | Policy Brief | No 562 | Loose Monetary Policy and Financial Instability | Maximilian Grimm, Òscar Jordà, Moritz Schularick, Alan M. Taylor |
| Apr 2023 | Policy Brief | No 561 | Leaning against the Global Financial Cycle | Andrea Ferrero, Maurizio Michael Habib, Livio Stracca, Fabrizio Venditti |
| Mar 2023 | Policy Brief | No 558 | Unraveling the Structure of Nested Decentralized Finance (DeFi) Protocols | Stefan Kitzler, Friedhelm Victor, Pietro Saggese, Bernhard Haslhofer |
| Mar 2023 | Policy Brief | No 557 | A friend in need is a friend indeed? Nonbanks and lending relationships during crises | Iñaki Aldasoro, Sebastian Doerr, Haonan Zhou |
| Mar 2023 | Policy Note | No 305 | Climate stress tests: Are banks fit for the green transition? | Ursula Walther |
| 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 550 | Lower for longer under Endogenous Technology Growth | Michaela Elfsbacka Schmöller, Martin Spitzer |
| Mar 2023 | Policy Brief | No 548 | The Euro Area Great Inflation Surge | Guido Ascari, Paolo Bonomolo, Marco Hoeberichts, Riccardo Trezzi |
| 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 543 | How shocks to Chinese supply chains affect US and euro area manufacturing | Makram Khalil, Marc-Daniel Weber |
| Mar 2023 | Policy Brief | No 538 | How does offshoring shape labour market imperfections? A comparative analysis of Belgian and Dutch firms | Sabien Dobbelaere, Catherine Fuss, Mark Vancauteren |
| Mar 2023 | Policy Note | No 304 | Should central banks raise inflation targets? | Ernest Gnan, Robert Holzmann |
| Mar 2023 | Policy Note | No 303 | Energy shocks and corporate performance, the case of Croatia | Ivan Huljak |
| Mar 2023 | Policy Brief | No 537 | Navigating the housing channel of monetary policy across euro area regions | Niccolò Battistini, Matteo Falagiarda, Angelina Hackmann, Moreno Roma |
| 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 531 | Austerity benefits the extremes | Ricardo Duque Gabriel, Mathias Klein, Ana Sofia Pessoa |
| Feb 2023 | Policy Brief | No 530 | Deep contractions cause economic scars that never heal | David Aikman, Mathias Drehmann, Mikael Juselius, Xiaochuan Xing |
| Feb 2023 | Policy Brief | No 528 | Federal Reserve Speeches Meet Transformer Models | Christoph Bertsch, Isaiah Hull, Robin L. Lumsdaine, Xin Zhang |
| Feb 2023 | Policy Brief | No 524 | Highly Dispersed inflation rates challenge the ECB’s monetary policy strategy | Thomas Url |
| 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 Brief | No 517 | Stock Return Predictability: Comparing Macro- and Micro-Approaches | Arthur Stalla-Bourdillon |
| Feb 2023 | Policy Note | No 299 | Convergence in GDP per capita in the euro area and the EU at the time of COVID-19 | Mirko Licchetta, Giovanni Mattozz |
| Feb 2023 | Policy Note | No 297 | Risk reduction vs risk sharing: A sticking point in the ongoing review of the EU fiscal framework? | Martin Larch, Matthias Busse, Mateja Gabrijelcic, Laszlo Jankovics, Janis Malzubris |
| Feb 2023 | Policy Brief | No 515 | Green Policies and Transition Risk Propagation in Production Networks | Pablo Aguilar, Beatriz González, Samuel Hurtado |
| Feb 2023 | Policy Brief | No 514 | Fund Flow Externalities Under the Microscope | Daniel Fricke, Stephan Jank, Hannes Wilke |
| Jan 2023 | Policy Brief | No 513 | Gender diversity in bank boardrooms helps to combat climate change | Leonardo Gambacorta, Livia Pancotto, Alessio Reghezza, Martina Spaggiari |
| 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 508 | Bank Competition and Bargaining over Refinancing | Marina Emiris, François Koulischer, Christophe Spaenjers |
| Jan 2023 | Policy Brief | No 507 | Joint Ownership of Production Projects as a Commitment Device against Interest Groups | Nicoletta Berardi, Paul Seabright |
| 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 Brief | No 504 | Introduction of the composite indicator of cyclical systemic risk in Croatia: possibilities and limitations | Tihana Škrinjarić |
| Jan 2023 | Policy Brief | No 502 | Latent Fragility: Conditioning Banks’ Joint Probability of Default on the Financial Cycle | Paul Bochmann, Paul Hiebert, Yves Schüler, Miguel Segoviano |
| Jan 2023 | Policy Note | No 296 | Finding the right mix: monetary-fiscal interaction at times of high inflation | Isabel Schnabel |
| 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 498 | Get your bearings: guidelines for newspaper based economic indicators | Erik Andres-Escayola, Corinna Ghirelli, Luis Molina, Javier Perez, Elena Vidal |
| Dec 2022 | Policy Note | No 294 | A modern credit guidance regime for the green transition | Katie Kedward, Daniela Gabor, Josh Ryan-Collins |
| Dec 2022 | Policy Note | No 293 | The EU macroprudential review should prioritize removing regulatory overlaps and increasing the flexibility of the CCyB | Stefan W. Schmitz, Michaela Posch, Peter Strobl |
| Dec 2022 | Policy Brief | No 497 | European Small Business Finance Outlook: SMEs in between crises | Helmut Kraemer-Eis, Antonia Botsari, Salome Gvetadze, Frank Lang, Wouter Torfs |
| 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 492 | Euro area’s persistent current account surplus – a reason behind a decade of low interest rates? | Tobias Schuler, Yiqiao Sun |
| Dec 2022 | Policy Brief | No 491 | Risk sharing and monetary policy transmission | Sebastian Hauptmeier, Fédéric Holm-Hadulla, Théodore Renault |
| Dec 2022 | Policy Brief | No 490 | Systemic Bank Runs: How a Misallocation of Liquidity May Trigger a Solvency Crisis | Lukas Altermatt, Hugo van Buggenum, Lukas Voellmy |
| 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 488 | Can we have a sudden stop for inflation? | Juhana Hukkinen, Matti Viren |
| Dec 2022 | Policy Brief | No 487 | Pricing of green bonds – drivers and dynamics of the greenium | Allegra Pietsch, Dilyara Salakhova |
| Dec 2022 | Policy Brief | No 483 | The Links Between Emerging Market Bond Flows, Exchange Rates and Future Financial Conditions | Peter Hördahl, Giorgio Valente |
| Dec 2022 | Policy Brief | No 482 | Shipping freight rates and inflation in the Euro Area | Nektarios A. Michail, Konstantinos D. Melas, Lena T. Cleanthous |
| Dec 2022 | Policy Brief | No 480 | Quantitative forward guidance through interest rate projections | Boris Hofmann, Dora Xia |
| Nov 2022 | Policy Brief | No 477 | Foreign demand shocks to production networks: Firm responses and worker impacts | Emmanuel Dhyne, Ken Kikkawa, Toshiaki Komatsu, Magne Mogstad, Felix Tintelnot |
| 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 Brief | No 473 | The Impact of Natural Disasters on Banks’ Impairment Flow – Evidence from Germany | Iliriana Shala, Benno Schumacher |
| Nov 2022 | Policy Brief | No 472 | (R-)Star gazing: Macro drivers suggest real neutral rate may have risen | Matthew Luzzetti, Brett Ryan, Justin Weidner, Amy Yang |
| Nov 2022 | Policy Brief | No 470 | What micro price data teach us about the inflation process: web-scraping in PRISMA | Chiara Osbat |
| Nov 2022 | Policy Brief | No 469 | The safe asset potential of EU-issued bonds | Tilman Bletzinger, William Greif, Bernd Schwaab |
| Nov 2022 | Policy Brief | No 468 | The reform of the EU fiscal framework: an enhanced surveillance role for independent fiscal councils? | Christos Chrysanthakopoulos, Athanasios Tagkalakis |
| Nov 2022 | Policy Brief | No 467 | A tale of three crises: synergies between ECB tasks | Karin Hobelsberger, Christoffer Kok, Francesco Paolo Mongelli |
| Nov 2022 | Policy Brief | No 466 | Price-at-risk: systemic risk from price-impact induced contagion | Gábor Fukker, Michiel Kaijser, Luca Mingarelli, Matthias Sydow |
| Nov 2022 | Policy Brief | No 462 | Disclosure of climate change risks in credit ratings | Miriam Breitenstein, Stefania Ciummo, Florian Walch |
| 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 |
| 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 |
| Nov 2022 | Policy Brief | No 457 | The Certification Role of the EU-Wide Stress Testing Exercises in the Stock Market. What Can We Learn from the Stress Tests (2014-2021)? | Agha Durrani, Steven Ongena, Aurea Ponte Marques |
| 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 455 | Forecasting and Understanding US Inflation with Artificial Intelligence | Philippe Goulet Coulombe |
| Oct 2022 | Policy Brief | No 454 | Augmented credit-to-GDP gap as a more reliable indicator for macroprudential policy decision-making | Tihana Škrinjarić |
| Oct 2022 | Policy Brief | No 453 | Under-researched areas of CBDC | Shalva Mkhatrishvili, Wim Boonstra |
| Oct 2022 | Policy Brief | No 451 | Towards the holy grail of cross-border payments; the interlinking solution | Ulrich Bindseil, George Pantelopoulos |
| Oct 2022 | Policy Brief | No 448 | Inequality and the real economy | Sebastian Doerr, Thomas Drechsel, Donggyu Lee |
| Oct 2022 | Policy Brief | No 446 | Forecasting digital technologies diffusion: A question of method | Charles Hoffreumon, Vincent Labhard |
| Oct 2022 | Policy Brief | No 445 | Fiscal deficits and inflation risks: the role of fiscal and monetary policy regimes | Ryan Banerjee, Valerie Boctor, Aaron Mehrotra, Fabrizio Zampolli |
| Oct 2022 | Policy Brief | No 442 | New insights into inequality and wealth in the euro area | Janina Engel, Pau Gayà Riera, Joseph Grilli, Pierre Sola |
| Oct 2022 | Policy Brief | No 437 | Is a global factor driving bond yields lately? | Mattia Girotti, Guillaume Horny, Adrian Penalver, Anna Petronevich |
| 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 |
| Oct 2022 | Policy Brief | No 434 | Growth Expectations and the Dynamics of Entry | Enisse Kharroubi |
| Oct 2022 | Policy Brief | No 433 | From macro to micro: large exporters more responsive to common shocks | Jean-Charles Bricongne, Juan Carluccio, Lionel Fontagné, Guillaume Gaulier, Sebastian Stumpner |
| 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 429 | Liquidity Coverage Ratios and Monetary Policy Credit in the time of Corona | Viktoriya Gocheva, Yvo Mudde, Jens Tapking |
| Sep 2022 | Policy Brief | No 428 | Natural Gas – An Unexpected Macro and Market Driver | Samantha Azzarello, Gabrielle Jabre |
| Sep 2022 | Policy Brief | No 426 | Privacy and Central Bank Digital Currency in the Digital Economy | Toni Ahnert, Peter Hoffmann, Cyril Monnet |
| Sep 2022 | Policy Brief | No 425 | What Moves Markets? | Mark Kerssenfischer, Maik Schmeling |
| Sep 2022 | Policy Brief | No 424 | Information Transmission between Banks and the Market for Corporate Control | Christian Bittner, Falko Fecht, Melissa Pala, Farzad Saidi |
| Sep 2022 | Policy Note | No 289 | Monetary policy in the euro area: the next phase | Philip R. Lane |
| Sep 2022 | Policy Brief | No 422 | Job polarisation decreases the access to credit in Europe | Michele Cantarella, Ilja Kristian Kavonius |
| Sep 2022 | Policy Brief | No 421 | Nothing spreads like technology: Digitalisation and its Interaction with Institutions and Governance | Claudio Baccianti, Vincent Labhard, Jonne Lehtimäki |
| 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 419 | Was globalization just a little thing in the process of inflation? | Juhana Hukkinen, Matti Viren |
| Sep 2022 | Policy Brief | No 418 | The Kiel Trade Indicator – A real-time indicator for trade flows | Wolfgang Lechthaler, Vincent Stamer |
| Sep 2022 | Policy Note | No 288 | Product level greenhouse gas contents – how to get there? | Ulf von Kalckreuth |
| Sep 2022 | Policy Brief | No 417 | Friendshoring: Who will benefit? | Michael Every, Erik-Jan van Harn |
| Sep 2022 | Policy Brief | No 416 | The rise of cross-border financial centres | Pamela Pogliani, Philip Wooldridge |
| Sep 2022 | Policy Brief | No 415 | How much foreign currency must a central bank buy to implement a minimum exchange rate? Estimation using the Swiss National Bank as an example | Markus Hertrich |
| Sep 2022 | Policy Brief | No 414 | The effects of Monetary Policy on Capital Flows: A Meta-Analysis | Mauricio Villamizar-Villegas, Lucía Arango-Lozano, Geraldine Castelblanco-Arias, Nicolás Fajardo-Baquero, María A. Ruiz-Sánchez |
| Sep 2022 | Policy Note | No 287 | Monetary policy and the Great Volatility | Isabel Schnabel |
| Sep 2022 | Policy Brief | No 409 | A model of system-wide stress simulation: market-based finance and the COVID-19 event | Giovanni di Iasio, Giulio Nicoletti, Nicholas Vause |
| Sep 2022 | Policy Brief | No 408 | What can CBDC designers learn from asking potential users? Results from a survey of Austrian residents | Svetlana Abramova, Rainer Böhme, Helmut Elsinger, Helmut Stix, Martin Summer |
| Sep 2022 | Policy Brief | No 407 | Household inflation expectations react to high euro area inflation | Gabriele Galati, Richhild Moessner, Maarten van Rooij |
| 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 405 | Forgetting Approaches to Improve Forecasting: Executive Summary | Robert Hill, Paulo Rodrigues |
| Aug 2022 | Policy Brief | No 404 | Entity-based vs activity-based regulation: a framework and applications to traditional financial firms and big techs | Claudio Borio, Stijn Claessens, Nikola Tarashev |
| Aug 2022 | Policy Brief | No 403 | What Can We Learn from 60 Years of PCE Inflation Data? | Raphael Schoenle, Dominic Smith |
| Aug 2022 | Policy Brief | No 401 | Allocation is key? Analysis of ECB public sector bond purchases’ divergence from the capital key | Carlo Birkholz, Friedrich Heinemann |
| 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 Note | No 284 | The design of a data governance system | Siddharth Tiwari, Sharad Sharma, Siddharth Shetty, Frank Packer |
| Aug 2022 | Policy Brief | No 397 | Unbalanced macroeconomic risks over the business cycle | Martin Iseringhausen, Ivan Petrella, Konstantinos Theodoridis |
| Aug 2022 | Policy Brief | No 396 | The pass-through from inflation perceptions to inflation expectations | Stefanie J. Huber, Daria Minina, Tobias Schmidt |
| Aug 2022 | Policy Brief | No 395 | Liquidity in bond markets - navigating in troubled waters | Martin Scheicher, Andreas Schrimpf |
| Aug 2022 | Policy Brief | No 394 | Flexibility in Asset Purchases: A Structural Analysis | James Costain, Galo Nuño, Carlos Thomas |
| Aug 2022 | Policy Brief | No 388 | Technology Standardization matters for Competition and Growth | Antonin Bergeaud, Julia Schmidt, Riccardo Zago |
| Jul 2022 | Policy Brief | No 385 | Wake-Up Call Contagion | Toni Ahnert, Christoph Bertsch |
| Jul 2022 | Policy Brief | No 384 | Aim High, Shoot Low? The Impact of Product Characteristics on Product Survival in Latvia’s Export Markets | Konstantīns Beņkovskis, Peter Jarret, Ze’ev Krill, Oļegs Tkačevs, Naomitsu Yashiro |
| Jul 2022 | Policy Brief | No 381 | Wage Effects of Labor Market Tightness | Christian Philip Hoeck |
| 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 378 | Estimating Growth-at-Risk: Insights from a Structural Nonlinear Model | Matthias Rottner |
| 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 376 | Climate change and inflation in the euro area | Christiane Nickel |
| Jul 2022 | Policy Brief | No 374 | When Are “Inflation Expectations” Inflation Expectations? New Evidence From Business Surveys | Brent H. Meyer, Xuguang Simon Sheng |
| Jul 2022 | Policy Brief | No 373 | Minibonds and intangibles | Gabriele Beccari, Francesco Marchionne, Beniamino Pisicoli |
| Jul 2022 | Policy Brief | No 371 | How household savings in CESEE are related to the past and the future | Melanie Koch, Thomas Scheiber |
| Jul 2022 | Policy Brief | No 370 | Too little too late: ECB’s normalisation path was model- rather than data-driven | Daniel Gros, Farzaneh Shamsfakhr |
| 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 |
| Jul 2022 | Policy Brief | No 365 | Subjective inflation expectations of households and firms | Michael Weber |
| Jun 2022 | Policy Brief | No 363 | Stablecoins - DeFi, Libra and beyond | Heike Mai |
| Jun 2022 | Policy Brief | No 362 | On Implementing Macroprudential Policy | Itai Agur, Sunil Sharma |
| 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 357 | What tax data can tell us about consumption and saving patterns | Alain Galli, Rina Rosenblatt-Wisch |
| 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 354 | A Coasian Bargain: Climate Financing to Phase Out Coal | Tobias Adrian, Patrick Bolton, Alissa M. Kleinnijenhuis |
| Jun 2022 | Policy Note | No 282 | Trade and Climate – The Disrupted Nexus | Stefan P. Schleicher |
| 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 Note | No 281 | CBDC and Bank Intermediation in the Euro Area | Ramón Adalid, Álvaro Álvarez-Blázquez, Katrin Assenmacher, et al. |
| 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 347 | Sectoral exchange rate pass-through in the euro area | Chiara Osbat, Yiqiao Sun, Martin Wagner |
| Jun 2022 | Policy Brief | No 346 | How do firms respond to demand and supply shocks? | Michał Gradzewicz |
| Jun 2022 | Policy Brief | No 343 | Cybersecurity and financial stability | Kartik Anand, Chanelle Duley, Prasanna Gai |
| Jun 2022 | Policy Brief | No 341 | Economic adjustment in the euro area and the United States during the COVID-19 crisis | Mirko Licchetta, Giovanni Mattozzi, Rafal Raciborski, Rupert Willis |
| May 2022 | Policy Brief | No 340 | Optimal Timing of Policy Interventions in Troubled Banks | Philipp König, Paul Mayer, David Pothier |
| May 2022 | Policy Brief | No 339 | Does own wealth and wealth of others matter for life satisfaction? | Antje Jantsch, Julia Le Blanc,Tobias Schmidt |
| May 2022 | Policy Brief | No 338 | Mortgage debt relief after economic shocks: lessons from the pandemic | Edward Gaffney, Fergal McCann, Johannes Stroebel |
| May 2022 | Policy Note | No 279 | Who comes after us? The correct mindset for designing a Central Bank Digital Currency | Antoine d’Aligny, Emmanuel Benoist, Florian Dold, Christian Grothoff, Özgür Kesim, Martin Schanzenbach |
| 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 335 | Macroeconomic Implications and Differences of Oil and Gas Price Shocks | Thomas Zörner, Nico Petz |
| May 2022 | Policy Brief | No 334 | The local presence of global banks | Iñaki Aldasoro, John Caparusso, Yingyuan Chen |
| May 2022 | Policy Note | No 278 | Monitoring Narratives: an Application to the Equity Market | Pascal Blanqué, Mohamed Ben Slimane, Amina Cherief, Théo Le Guenedal, Takaya Sekine, Lauren Stagnol |
| 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 Note | No 277 | What business model for the Digital Euro? Lessons from Brazil and Switzerland | Peter Bofinger, Thomas Haas |
| May 2022 | Policy Brief | No 329 | Digital payment behaviour differs significantly across countries | Jakob Mølgaard Heisel, Marcus Clausen Brock |
| 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 325 | Climate Change and Individual Behavior | René Bernard, Panagiota Tzamourani, Michael Weber |
| Apr 2022 | Policy Brief | No 323 | Is Super-Active Fiscal Policy Desirable? | Roberto M. Billi, Carl E. Walsh |
| Apr 2022 | Policy Brief | No 322 | Trends in Monetary Policy Transparency Around the World | Nergiz Dincer, Barry Eichengreen, Petra Geraats |
| Apr 2022 | Policy Brief | No 320 | Global Banking, Regulatory Spillovers, and the Benefits of Macroprudential Policy Coordination | Pierre-Richard Agénor, Timothy P Jackson, Luiz A Pereira da Silva |
| Apr 2022 | Policy Brief | No 317 | Evidence on financial literacy and financial inclusion in Albania | Elona Dushku |
| 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 311 | Making Sense of Consumers’ Inflation Expectations | Lovisa Reiche, Aidan Meyler, Christian Gayer |
| Apr 2022 | Policy Brief | No 309 | The low-carbon transition, climate commitments and firm credit risk | Sante Carbone, Margherita Giuzio, Sujit Kapadia, Johannes Sebastian Krämer, Ken Nyholm, Katia Vozian |
| 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 307 | On the Welfare Effects of Using Energy and Emissions Taxes to Finance a Labour Tax Reduction in a Multi-sector DSGE Model | Natascha Hinterlang, Anika Martin, Oke Röhe, Nikolai Stähler, Johannes Strobel |
| Mar 2022 | Policy Brief | No 306 | ECB Communication and its Impact on Financial Markets | Klodiana Istrefi, Florens Odendahl, Giulia Sestieri |
| Mar 2022 | Policy Brief | No 304 | Mind the gap: The widening post-pandemic gender divide | Joyce Chang, Amy Ho |
| Mar 2022 | Policy Note | No 272 | Financing Faster Growth For Europe’s SMEs | Sylvain Broyer, Sarah Limbach, Cihan Duran |
| Mar 2022 | Policy Note | No 271 | Financial stability and crypto-assets | Pablo Hernández de Cos |
| Mar 2022 | Policy Brief | No 302 | Optimal Monetary Policy and Capital Misallocation | Beatriz González, Galo Nuño, Dominik Thaler, Silvia Albrizio |
| Mar 2022 | Policy Brief | No 300 | Household saving and fiscal policy: Evidence for the euro area from a thick modelling perspective | Cristina Checherita-Westphal, Marcel Stechert |
| Mar 2022 | Policy Brief | No 299 | When domestic and foreign QE overlap | Paola Di Casola, Pär Stockhammar |
| Mar 2022 | Policy Note | No 270 | Will the supply-driven oil price shock unanchor inflation expectations? | Matthew Luzzetti, Brett Ryan, Justin Weidner, Amy Yang |
| Mar 2022 | Policy Brief | No 298 | Covid-19 government subsidies and their implications for pandemic labour productivity | Tommaso Bighelli, Tibor Lalinsky, Juuso Vanhala |
| Mar 2022 | Policy Brief | No 297 | Central banks’ in-house credit assessment systems – supporting the Eurosystem’s response to the pandemic and its climate change action plan | Aviram Levy, Florian Resch, Anna Maria Rossi, Stephan Sauer |
| Mar 2022 | Policy Brief | No 293 | Tax Race to the Bottom Harms Location Attractiveness of Western Europe | Leonie Fischer, Jost H. Heckemeyer, Christoph Spengel, Daniela Steinbrenner |
| Mar 2022 | Policy Note | No 268 | Crisis-tested Europe – Solidarity with Ukraine spurs European identity | Heinz Handler |
| Mar 2022 | Policy Brief | No 288 | Economists: not enough transparency? Evidence from a reproducibility exercise of a top economic journal | Sylvérie Herbert, Hautahi Kingi, Flavio Stanchi, Lars Vilhuber |
| Mar 2022 | Policy Brief | No 287 | The implications of demographics, pension systems, and migration for monetary policy | Marcin Bielecki, Michał Brzoza-Brzezina, Marcin Kolasa |
| Mar 2022 | Policy Note | No 267 | Towards a single operational indicator in the SGP – A look at the properties of the current expenditure benchmark | Nicholai Benalal, Maximilian Freier, Wim Melyn, Stefan Van Parys, Lukas Reiss |
| 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 279 | Brexit: Trade diversion due to trade policy uncertainty | Eduardo Gutiérrez, Aitor Lacuesta, César Martín-Machuca |
| 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 276 | The COVID Non-Performing Loan ’Tsunami’ that Never Happened and How to Avoid it Now | Reiner Martin, Piroska Nagy-Mohacsi, Elina Ribakova, Jonathan M. Fortun Vargas |
| 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 Brief | No 273 | Revisiting the Properties of Money | Isaiah Hull, Or Sattath |
| Feb 2022 | Policy Note | No 265 | Austrian conceptions of money and the rise of digital currency | Michael Peneder |
| Feb 2022 | Policy Brief | No 270 | Population ageing and the digital divide | Sebastian Doerr, Jon Frost, Leonardo Gambacorta, Han Qiu |
| 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 267 | Pledge or pretext? Lessons from the Fiscal Compact | Martin Larch, Matthias Busse, László Jankovics |
| 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 263 | Pitfalls of Inflation Tolerance Ranges | Hervé Le Bihan, Magali Marx, Julien Matheron |
| 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 260 | Credit Constrained Firms and Government Subsidies: Evidence from a European Union Program | Tirupam Goel, Péter Lang, Eszter Balogh, Ádám Banai, Martin Stancsics, Előd Takáts, Álmos Telegdy |
| Jan 2022 | Policy Brief | No 256 | Operating leverage and its importance during the Covid-19 pandemic | Katharina Allinger, Ivan Huljak |
| Jan 2022 | Policy Brief | No 255 | Climate actions and macro-financial stability: The role of central banks | Francesca Diluiso, Barbara Annicchiarico, Matthias Kalkuhl, Jan. C. Minx |
| Jan 2022 | Policy Note | No 262 | The encrypted threat: Bitcoin’s social cost and regulatory responses | Ulrich Bindseil, Patrick Papsdorf, Jürgen Schaaf |
| 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 Brief | No 249 | Monetary and fiscal complementarity in the Covid-19 pandemic | Jagjit S Chadha, Luisa Corrado, Jack Meaning, Tobias Schuler |
| 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 243 | The Macroeconomic Impact of Euro Area Labor Market Reforms | Gerhard Rünstler |
| Dec 2021 | Policy Brief | No 242 | The Role of Contact Tracing in the Long Pandemic War | Leonardo Melosi, Matthias Rottner |
| Dec 2021 | Policy Brief | No 240 | The European CBAM as a first step towards a globally coordinated climate policy | Daniel Römer, Milena Schwarz |
| Dec 2021 | Policy Brief | No 239 | The Leverage Effect of Bank Disclosures | Philipp J. König, Christian Laux, David Pothier |
| Dec 2021 | Policy Note | No 258 | The importance of Private Equity and Venture Capital financing for Greentech companies in Europe | Helmut Kraemer-Eis, Antonia Botsari, Salome Gvetadze, Frank Lang, Wouter Torfs |
| Dec 2021 | Policy Brief | No 236 | How to steer interest rates in negative territory? An analysis of reserve tiering and interbank market activity | Lucas Marc Fuhrer, Matthias Jüttner, Jan Wrampelmeyer, Matthias Zwicker |
| Nov 2021 | Policy Brief | No 234 | Optimism is bad for fiscal outcomes | Martin Larch, Janis Malzubris, Matthias Busse |
| Nov 2021 | Policy Brief | No 232 | Central banks on social media – the reception of ECB communication among experts and non-experts on Twitter | Michael Ehrmann, Alena Wabitsch |
| Nov 2021 | Policy Brief | No 231 | A Multi-level Network Approach to Spillovers Analysis: An Application to the Maltese Domestic Investment Funds Sector | Francesco Meglioli, Stephanie Gauci |
| Nov 2021 | Policy Brief | No 230 | Temporary panic or fundamental change in payment habits in Europe? Lesson from COVID-19 pandemic shift towards cashless payments | Michal Polasik, Radoslaw Kotkowski |
| Nov 2021 | Policy Brief | No 226 | Benefits of internationalisation for acquirers and targets – but unevenly distributed | Rainer Frey, Stefan Goldbach |
| Nov 2021 | Policy Brief | No 223 | A taxonomy of sustainable finance taxonomies | Torsten Ehlers, Diwen Gao, Frank Packer |
| Nov 2021 | Policy Brief | No 221 | External Costs of Freight Transport – Relevance and Implications of Internalisation at the European Level | Elisabeth Christen, Bettina Meinhart, Franz Sinabell, Gerhard Streicher |
| Nov 2021 | Policy Brief | No 220 | Consumption and service sector key factors in the COVID-19 trade collapse | Heli Simola |
| 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 217 | How Pandemics Affect the Financial System: Fintech Adoption, and the Digital Divide | Orkun Saka, Barry Eichengreen, Cevat Giray Aksoy |
| Nov 2021 | Policy Brief | No 214 | How do Loan-to-Value Caps Impact Bank Lending and Credit Spillover? | Selva Bahar Baziki, Tanju Çapacıoğlu |
| Oct 2021 | Policy Brief | No 211 | Technical barriers to trade play the most important role in trade of goods in information and communications technology | Mahdi Ghodsi |
| Oct 2021 | Policy Brief | No 210 | Exploring DORA - the Digital Operational Resilience Act and its impact on banks and their supervisors | Joachim Wuermeling |
| Oct 2021 | Policy Brief | No 208 | Human Frictions in the Transmission of Economic Policy | Francesco D’Acunto, Daniel Hoang, Maritta Paloviita, Michael Weber |
| Oct 2021 | Policy Brief | No 207 | The Rise in Foreign Currency Bonds: The Role of US Monetary Policy and Capital Controls | Philippe Bacchetta, Rachel Cordonier, Ouarda Merrouche |
| Oct 2021 | Policy Brief | No 204 | Combining negative rates, forward guidance and asset purchases: Identification and impacts of the ECB’s unconventional policies | Massimo Rostagno, Carlo Altavilla, Giacomo Carboni, Wolfgang Lemke, Roberto Motto, Arthur Saint Guilhem |
| 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 199 | The impact of macroprudential policies on capital flows in CESEE | Markus Eller, Niko Hauzenberger, Florian Huber, Helene Schuberth, Lukas Vashold |
| 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 |
| Oct 2021 | Policy Brief | No 193 | The effect of Eurosystem asset purchase programmes on euro area sovereign bond yields during the COVID-19 pandemic | George Hondroyiannis, Dimitrios Papaoikonomou |
| Oct 2021 | Policy Brief | No 191 | Macroeconomic stabilisation in the presence of the effective lower bound: the case of the euro area | Günter Coenen, Carlos Montes-Galdón, Sebastian Schmidt |
| Oct 2021 | Policy Note | No 257 | Systemic Implications of the Bail-in Design: A Precis of our Main Text | J. Doyne Farmer, Charles Goodhart, Alissa M. Kleinnijenhuis |
| Sep 2021 | Policy Brief | No 190 | The Effects of Fiscal Policy when Planning Horizons are Finite | Joep Lustenhouwer, Kostas Mavromatis |
| Sep 2021 | Policy Brief | No 189 | How do real and monetary integrations affect inflation dynamics in Turkey? | Hülya Saygılı |
| 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 187 | Can policy boost the international role of currencies? Lessons from international trade invoicing | Georgios Georgiadis, Helena Le Mezo, Arnaud Mehl, Cédric Tille |
| Sep 2021 | Policy Brief | No 184 | Frozen markets: Iceland’s experience with capital controls | Francis Breedon, Thórarinn G. Pétursson, Paolo Vitale |
| Sep 2021 | Policy Note | No 256 | Ultra low interest rates from the perspective of a central banker | Lars Rohde |
| Sep 2021 | Policy Brief | No 180 | Sovereign CDS Volatility as an Indicator of Economic Uncertainty | Maximilian Böck, Martin Feldkircher, Burkhard Raunig |
| Sep 2021 | Policy Brief | No 178 | Contagious Zombies | Christian Bittner, Falko Fecht, Co-Pierre Georg |
| Sep 2021 | Policy Note | No 254 | Fiscal-Monetary Crosswinds in the Euro Area | Lucrezia Reichlin, Giovanni Ricco, Matthieu Tarbé |
| Sep 2021 | Policy Note | No 253 | Raising r*: Why, how, and if not now, when? | Robert Holzmann, Maria T. Valderrama |
| Sep 2021 | Policy Note | No 252 | Forging the Future of Monetary Union – taking stock and looking forward | Markus Rodlauer, Rolf Strauch |
| 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 175 | The Liquidity of the Government Bond Market – What Impact Does Quantitative Easing Have? Evidence from Sweden | Marianna Blix Grimaldi, Alberto Crosta, Dong Zhang |
| Sep 2021 | Policy Brief | No 174 | Low-for-ultra-long policy will not be enough for Japan | Hiroshi Ugai |
| Sep 2021 | Policy Brief | No 173 | An export supply channel of exchange rates | Erik Frohm |
| Sep 2021 | Policy Brief | No 171 | Curb your enthusiasm: the aggregate short-run effects of a borrower-based measure | Joana Passinhas, Daniel Abreu |
| Aug 2021 | Policy Brief | No 168 | Monetary Gold and Central Bank Capital | Kenneth Sullivan |
| Aug 2021 | Policy Brief | No 167 | Limits of stress-test based bank regulation | Tirupam Goel, Isha Agarwal |
| Aug 2021 | Policy Brief | No 166 | Record global FX reserves after COVID shock | Michael S Hanson |
| 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 159 | On the Effectiveness of Macroprudential Policy | Miguel Ampudia, Marco Lo Duca, Mátyás Farkas, Gabriel Perez Quiros, Mara Pirovano, Gerhard Rünstler, Eugen Tereanu |
| Aug 2021 | Policy Brief | No 158 | Bank pricing of corporate loans | Márcio Mateus, Tiago Pinheiro |
| Aug 2021 | Policy Brief | No 157 | Covid-19 and Capital Flows: The Responses of Investors to the Responses of Governments | Stefan Goldbach, Volker Nitsch |
| Aug 2021 | Policy Brief | No 154 | Can Internet banking affect households’ participation in financial markets and financial awareness? | Valentina Michelangeli, Eliana Viviano |
| Aug 2021 | Policy Brief | No 153 | What’s the Message? Interpreting Monetary Policy Through Central Bankers’ Speeches | Martin Feldkircher, Paul Hofmarcher, Pierre Siklos |
| 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 Brief | No 147 | Proportionality in banking regulation: who, what and how? | Raihan Zamil |
| Aug 2021 | Policy Brief | No 146 | Digital payments and European sovereignty | Burkhard Balz |
| 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 |
| Jul 2021 | Policy Brief | No 141 | Some warning signals about average inflation targeting | Seppo Honkapohja, Nigel McClung |
| Jul 2021 | Policy Brief | No 136 | What does “below, but close to, two per cent” mean? Assessing the ECB’s reaction function with real time data | Maritta Paloviita, Markus Haavio, Pirkka Jalasjoki, Juha Kilponen |
| Jul 2021 | Policy Brief | No 135 | Liquidity in the German corporate bond market: has the CSPP made a difference? | Kathi Schlepper |
| 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 132 | Euro area portfolio flows in 2020: the impact of the Covid-19 crisis | Julia Schmidt, Olivier Sirello |
| Jul 2021 | Policy Brief | No 131 | Investment funds, monetary policy, and the global financial cycle | Christoph Kaufmann |
| Jul 2021 | Policy Brief | No 130 | How well are consumers’ inflation expectations anchored to the ECB’s inflation aim? | Gabriele Galati, Richhild Moessner, Maarten van Rooij |
| Jul 2021 | Policy Brief | No 129 | Nearshoring Perspectives after COVID-19: Can Western Balkans Benefit? | Branimir Jovanovic, Mahdi Ghodsi |
| Jul 2021 | Policy Brief | No 126 | Intergenerational macroeconomics | Gabriel Makhlouf |
| 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 121 | How climate protection adds to inflation | Jörg Krämer, Ralph Solveen |
| Jun 2021 | Policy Brief | No 115 | Understanding the financial risks of nature loss: exploring policy options for financial authorities | Katie Kedward, Josh Ryan-Collins, Hugues Chenet |
| Jun 2021 | Policy Brief | No 114 | How to issue a privacy-preserving central bank digital currency | Christian Grothoff, Thomas Moser |
| Jun 2021 | Policy Brief | No 112 | Fund Cross-Holdings and Financial Stability | Daniel Fricke, Hannes Wilke |
| Jun 2021 | Policy Brief | No 111 | A rising core lifts all baskets | Bruce Kasman, Joseph Lupton, Michael S Hanson |
| 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 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 105 | Monetary policy space and monetary policy strategies for the euro area | Markus Haavio, Olli-Matti Laine |
| 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 103 | A bigger house at the cost of an empty fridge? The effect of households’ indebtedness on their consumption: Micro-evidence using Belgian HFCS data | Philip Du Caju, Guillaume Périlleux, François Rycx, Ilan Tojerow |
| Jun 2021 | Policy Note | No 245 | A technical toolkit to monitor a pandemic outbreak from a central bank perspective | Alexie Alupoaiei, Csaba Bálint, Matei Kubinschi |
| Jun 2021 | Policy Note | No 244 | External Vulnerabilities and Exchange Rate Pass-Through: The Case of Emerging Markets | Abdullah Kazdal, Muhammed Hasan Yılmaz |
| 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 101 | The interplay between green policy, electricity prices, financial constraints and jobs: firm-level evidence | Gert Bijnens, John Hutchinson, Jozef Konings, Arthur Saint Guilhem |
| May 2021 | Policy Note | No 241 | Digital Disruption: The Inevitable Rise of CBDC | Chetan Ahya, Derrick Kam, Julian Richers |
| May 2021 | Policy Brief | No 96 | Real interest rates and demographic developments: the role of population growth and migration | Lucas Fuhrer, Nils Herger |
| 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 91 | Low Interest Rates and the Distribution of Household Debt | Marina Emiris, François Koulischer |
| May 2021 | Policy Brief | No 90 | SPACs (special purpose acquisition companies) | Mario Hübler, Jakob Hanzl, Christoph Prenner |
| May 2021 | Policy Brief | No 89 | Foreclosures and House Prices | Michele Loberto |
| May 2021 | Policy Brief | No 88 | Strengthening the international role of the euro | Gergely Hudecz, Gong Cheng, Edmund Moshammer, Alexander Raabe |
| May 2021 | Policy Brief | No 87 | Banking regulation and the benefits of international cooperation – views from a banking supervisor | Joachim Wuermeling |
| May 2021 | Policy Note | No 236 | Europe’s growth gap: reconciling Keynes and Schumpeter | François Villeroy de Galhau |
| May 2021 | Policy Brief | No 84 | Data sharing for better policy making | Claudia Buch |
| 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 82 | The banking supervisors dilemma: wearing many hats on one head | Sasin Kirakul, Jeffery Yong, Raihan Zamil |
| Apr 2021 | Policy Brief | No 83 | Zero Covid: fewer deaths and much less contraction in GDP | Cécile Philippe, Nicolas Marques |
| Apr 2021 | Policy Note | No 233 | How should the COVID restrictions in England be eased? | David K. Miles, Adrian H Heald, Michael Stedman |
| Apr 2021 | Policy Brief | No 80 | Fed’s financial stability concerns and monetary policy | Klodiana Istrefi, Florens Odendahl, Giulia Sestieri |
| Apr 2021 | Policy Note | No 232 | The Macroeconomics of Covid-19 Leverage | Théophile Jégard, Simon Ray |
| Apr 2021 | Policy Brief | No 78 | Not all debt is bank debt: Nonbank borrowing in Central, Eastern and Southeastern Europe | Katharina Allinger, Elisabeth Beckmann |
| 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 72 | Uncertainty Is Not an Excuse. Integrating Climate Risks into Monetary Policy Operations and Financial Supervision | Julia Anna Bingler, Chiara Colesanti Senni, Pierre Monnin |
| Apr 2021 | Policy Brief | No 71 | CESEE’s Macroprudential Policy Response to Covid-19 | Markus Eller, Reiner Martin, Lukas Vashold |
| Apr 2021 | Policy Brief | No 70 | The impact of Covid-19 on global value chains | Heli Simola |
| Apr 2021 | Policy Brief | No 69 | Crisis management of credit institutions: Senior unsecured creditors must prepare for bail-in | Christine Sif Larsen, Anne Dyrberg Rommer |
| 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 63 | The role of fiscal policies in the Covid-19 crisis: scope and limitations | Niels Thygesen |
| Apr 2021 | Policy Note | No 229 | Shifts in the portfolio holdings of euro area investors in the midst of COVID-19: looking-through investment funds | Daniel Carvalho, Martin Schmitz |
| Mar 2021 | Policy Brief | No 60 | EU – US: Towards renewed transatlantic cooperation? | Maartje Wijffelaars, Philip Marey |
| Mar 2021 | Policy Brief | No 57 | Central bank communication with the general public: effective or not? | Nils Brouwer, Jakob de Haan |
| Mar 2021 | Policy Note | No 228 | CBDC: Where is the unique selling proposition? | Peter Bofinger,Thomas Haas |
| Mar 2021 | Policy Note | No 227 | Scarring in Europe | Reza Moghadam, Markus Guetschow, Camille White |
| 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 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 50 | The rise of digital watchers | Till Ebner, Thomas Nellen, Jörn Tenhofen |
| Feb 2021 | Policy Note | No 224 | Vaccination delay to cost Europe EUR90bn in 2021 | Ludovic Subran, Ana Boata, Patrick Krizan, Katharina Utermöhl |
| Feb 2021 | Policy Note | No 223 | Bank stress tests: their philosophy and their use by prudential authorities during the Covid-19 crisis | Valère Fourel, Julien Idier, Valerio Scalone, Aurore Schilte |
| Feb 2021 | Policy Brief | No 47 | Banking Across Borders: Are Chinese Banks Different? | Eugenio Cerutti, Catherine Koch, Swapan-Kumar Pradhan |
| Feb 2021 | Policy Note | No 222 | A pragmatic solution for the liquidity in resolution problem | Matthias Gruber, Stefan W. Schmitz |
| Feb 2021 | Policy Brief | No 44 | The evolution of bond and swap trading | Martin Scheicher |
| Feb 2021 | Policy Note | No 221 | 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 |
| Jan 2021 | Policy Note | No 220 | Is the 100% Reserve Reform Finally Getting Topical? | Christian Pfister |
| Jan 2021 | Policy Note | No 219 | Buffer usability and potential stigma effects | Stefan W. Schmitz, Viola Nellessen, Michaela Posch, Peter Strobl |
| 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 |
| Jan 2021 | Policy Note | No 216 | 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 |
| Dec 2020 | Policy Note | No 213 | COVID-19 pandemic: Perception, confusion and conspiracies | Stefan Schneider |
| Dec 2020 | Policy Note | No 212 | Monetary policy effects when interest rates are negative | Joost Bats, Massimo Giuliodori, Aerdt Houben |
| Dec 2020 | Policy Note | No 211 | Preparing for a higher inflation regime | Elga Bartsch, Jean Boivin, Philipp Hildebrand |
| Nov 2020 | Policy Brief | No 36 | A stronger voice for Europe in global development | Werner Hoyer |
| Nov 2020 | Policy Brief | No 37 | In Support of Monetary Policy: Using the Countercyclical Capital Buffer to Avoid a Reversal Interest Rate | Matthieu Darracq Pariès, Christoffer Kok, Matthias Rottner |
| Nov 2020 | Policy Note | No 207 | Surge in corporate insolvencies hitting German banks | Jan Schildbach |
| Nov 2020 | Policy Note | No 206 | Cyber risk in the financial sector | Iñaki Aldasoro, Jon Frost, Leonardo Gambacorta, Thomas Leach, David Whyte |
| Nov 2020 | Policy Note | No 205 | Retail CBDC Remuneration: The Sign Matters | Christian Pfister |
| Oct 2020 | Policy Note | No 203 | Tracking Covid: What Worked? | Markus Guetschow |
| 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 Note | No 200 | Finding the Right “Hall of Mirrors”: The Mixed Blessings of Lessons from the Past for Shaping a Post-COVID Future | Robert Holzmann |
| Oct 2020 | Policy Brief | No 32 | More travel warnings are almost like a new lockdown for the hospitality industry | Eric Heymann |
| Oct 2020 | Policy Note | No 198 | The shadow of fiscal dominance: Misconceptions, perceptions and perspectives | Isabel Schnabel |
| Oct 2020 | Policy Note | No 197 | The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival | C.A.E. Goodhart, Manoj Pradhan |
| Sep 2020 | Policy Brief | No 30 | Can we expect the economy to rebound rapidly? | Stéphane Dupraz |
| Sep 2020 | Policy Note | No 196 | The Eurosystem collateral framework in 2018 and 2019 | Marco Corsi, Benjamin Hartung, Viktoriya Gocheva |
| 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 |
| Sep 2020 | Policy Brief | No 29 | A Journey through the Monetary Cyber World | Christian Pfister |
| Sep 2020 | Policy Brief | No 27 | To each crisis its analogy, to each analogy its critical reflection | Robert Holzmann |
| Sep 2020 | Policy Note | No 194 | Home- and host-country prudential regulation and spillovers in dollar credit | Stefan Avdjiev, Bryan Hardy, Patrick McGuire, Goetz von Peter |
| Sep 2020 | Policy Brief | No 26 | Global value chains and the challenge of Covid-19 | Antoine Berthou, Juan Carluccio, Guillaume Gaulier |
| Sep 2020 | Policy Brief | No 25 | After Coronavirus: Deflation or Inflation? | C.A.E. Goodhart |
| Sep 2020 | Policy Note | No 193 | Inclusive payments for the post-pandemic world | Raphael Auer, Jon Frost, Thomas Lammer, Tara Rice, Amber Wadsworth |
| Sep 2020 | Policy Note | No 191 | Are bank capital requirements optimally set? Evidence from researchers’ views | Gene Ambrocio, Iftekhar Hasan, Esa Jokivuolle, Kim Ristolainen |
| Aug 2020 | Policy Brief | No 24 | The big debt surge | Ralph Solveen |
| Aug 2020 | Policy Brief | No 23 | Eurozone in times of Covid-19: Debt monetisation by stealth | Peter Vanden Houte |
| Aug 2020 | Policy Note | No 186 | European Recovery Fund: Sceptics Q&A | Reza Moghadam, Jacob Nell, Joao Almeida, Bruna Skarica, Markus Guetschow |
| Aug 2020 | Policy Brief | No 22 | Radical Uncertainty | John Kay |
| 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 Brief | No 21 | How effective are bank levies in reducing leverage given the debt bias of corporate income taxation? | Franziska Bremus, Kirsten Schmidt, Lena Tonzer |
| 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 182 | Europe’s answer to Libra – potential and prerequisites of a programmable euro | Andreas Krautscheid, Tobias Tenner, Siegfried Utzig |
| Jul 2020 | Policy Brief | No 18 | The liquidity trap, monetary policy and the health crisis | Stéphane Lhuissier |
| Jul 2020 | Policy Note | No 181 | A sensible fiscal policy for the sharp rise in government debt | Forrest Capie, Meyrick Chapman, Chris Marsh, Geoffrey Wood |
| Jun 2020 | Policy Note | No 180 | Which factors drive consumers to adopt crypto-assets? Results from an Austrian survey | Helmut Stix |
| Jun 2020 | Policy Note | No 178 | Covalization: Europe on the Rack Between Globalization and Covid - A Historian’s Perspective on the European Union: Europe and Globalization | Harold James |
| Jun 2020 | Policy Note | No 175 | Towards a wider international role for the euro | Francesco Papadia, Konstantinos Efstathiou |
| Jun 2020 | Policy Brief | No 15 | There is nothing magic in central bank money | Jean Barthélemy, Adrian Penalver |
| Jun 2020 | Policy Brief | No 14 | Do contactless cards really change the way we pay? | Martin Brown, Nicole Hentschel, Hannes Mettler, Helmut Stix |
| May 2020 | Policy Brief | No 12 | An ECB digital currency – a flight of fancy? | Yves Mersch |
| 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 11 | Simulating the distributive effects of the Macron-Merkel Recovery Fund | Friedrich Heinemann |
| May 2020 | Policy Note | No 170 | International inflation co-movements | Philip R. Lane |
| May 2020 | Policy Note | No 169 | Making banking integration work for better risk sharing in the eurozone: the role of cross-border banking consolidation | Mathias Hoffmann |
| May 2020 | Policy Note | No 168 | Cross-border consolidation in the European banking sector: between dreams and reality | Jan Van Hove |
| May 2020 | Policy Note | No 166 | Turning collective savings into private equity investments: The Covid-19 crisis as a catalyst for pan-European efficient resource allocation | Georges Hübner |
| May 2020 | Policy Brief | No 8 | The currency composition of foreign exchange reserves | Hiro Ito and Robert N McCauley |
| May 2020 | Policy Note | No 165 | Monetary policy implications of digital currencies | Katrin Assenmacher |
| May 2020 | Policy Note | No 164 | Can we compare the COVID-19 and 2008 crises? | Marc-Olivier Strauss-Kahn |
| 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 5 | An EU Recovery Fund: How to square the circle? | Kajus Hagelstam, Alice Zoppè, Cristina Sofia Dias |
| May 2020 | Policy Brief | No 6 | Never Let a Good Crisis Go to Waste! | Kai A. Konrad, Marcel Thum |
| Apr 2020 | Policy Note | No 160 | Interlinking Europe’s recovery plan and the next EU budget | Kevin Körner and Barbara Böttcher |
| Apr 2020 | Policy Note | No 158 | Overview of Central Bank Digital Currency - State of Play | Johannes Duong |
| Apr 2020 | Policy Note | No 159 | Embedded supervision: how to build regulation into Libra 2.0 and the token economy | Raphael Auer |
| 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 Note | No 157 | The search for the right European Financing Instruments in the Corona Pandemic - ESM Liquidity Assistance versus Corona Bonds | Friedrich Heinemann |
| Apr 2020 | Policy Note | No 154 | The Prudent Algorithm Principle: A new paradigm for financial supervision | Jakob Thomä |
| Apr 2020 | Policy Note | No 152 | European banks in the corona crisis | Jan Schildbach |
| Mar 2020 | Policy Note | No 144 | Euro Area Economics: Putting the OOH into HICP | Jacob Nell, Bruna Skarica, Joao Almeida, Markus Guetschow |
| Mar 2020 | Policy Note | No 143 | Central Bank Digital Currency: A Primer | Christian Pfister |
| Mar 2020 | Policy Note | No 142 | 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 |
| Mar 2020 | Policy Note | No 138 | Euro Area Economics: Greenflation? | Jacob Nell, Joao Almeida, Markus Guetschow |
| Mar 2020 | Policy Note | No 137 | R-star decline and monetary hysteresis | Phurichai Rungcharoenkitkul |
| 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 133 | Making sure your bot colleague is less biased than you! | Frank De Jonghe |
| Feb 2020 | Policy Note | No 130 | European Banking Consolidation: Can a view to the past inform current policy efforts? | Peter Hahn |
| Jan 2020 | Policy Note | No 126 | Bank resolution, the need to recognize reality in order to prepare for the next crisis | Jesper Berg, Henrik Bjerre-Nielsen |
| Jan 2020 | Policy Note | No 123 | DLT-Based Regulatory Reporting - A game changer for the regulatory regime? | Daniel Münch, Noah Bellon |
| Dec 2019 | Policy Note | No 120 | Investing in Europe’s Competitiveness and Sustainability | Werner Hoyer |
| Dec 2019 | Policy Note | No 118 | Deposit facility rate, bank reserves, and portfolio reallocation incentives | Manuel Buchholz, Kirsten Schmidt, Lena Tonzer |
| 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 115 | Putting macroprudential policy to work: a case study on the Dutch housing market | Paul Hilbers, Marco van Hengel |
| Oct 2019 | Policy Note | No 109 | The rise of central banks as sovereign debt holders: Implications for investor bases | Alvise Lennkh, Bernhard Bartels, Thibault Vasse |
| Oct 2019 | Policy Note | No 108 | Libra – a view from Europe | Heike Mai |
| Oct 2019 | Policy Note | No 106 | Banks’ behavioral reactions to Basel III: mostly as intended | Stefan W. Schmitz |
| 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 99 | The euro’s global role: past, present and future | Arnaud Mehl |
| Sep 2019 | Policy Note | No 97 | Strengthened EU fiscal framework: fiscal discipline versus economic stabilization | Bernhard Grossmann, Gottfried Haber |
| Sep 2019 | Policy Note | No 96 | Reconciling risk sharing with market discipline: A constructive approach to euro area reform | Isabel Schnabel |
| Sep 2019 | Policy Note | No 95 | Controlling CBDC through tiered remuneration | Ulrich Bindseil |
| 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 92 | Beliefs and Portfolios: New Measurement and Facts | Stefano Giglio, Matteo Maggiori, Johannes Stroebel, Stephen Utkus |
| Aug 2019 | Policy Note | No 91 | How to Make Capitalism Work for All? | Anita Angelovska Bezhoska |
| Aug 2019 | Policy Note | No 90 | Restricting or Abolishing Cash: An Effective Instrument for Eliminating the Shadow Economy, Corruption and Terrorism? | Friedrich Schneider |
| Aug 2019 | Policy Note | No 88 | Mitigating Fiscal Risks from the Financial Sector | Ludger Schuknecht |
| Jul 2019 | Policy Note | No 86 | Regulatory complexity and the quest for robust regulation | Prasanna Gai, Malcolm Kemp, Antonio Sánchez Serrano, Isabel Schnabel |
| Jun 2019 | Policy Note | No 79 | Financial aspects of Brexit | Thomas Url |
| Jun 2019 | Policy Note | No 78 | Central banks are too risk averse as investors | Massimiliano Castelli, Stefan Gerlach |
| Jun 2019 | Policy Note | No 77 | Thoughts for a third EU Referendum: Revoke Article 50 OR Leave with “a” deal | Graham Bishop |
| Jun 2019 | Policy Note | No 76 | Chinese foreign investment: a dangerous obsession or a new normal? Get ready for the latter! | Peter Havlik |
| Apr 2019 | Policy Note | No 68 | How to assess the adequacy of capital requirements based on internal models? | Susanne Roehrig |
| 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 |
| Mar 2019 | Policy Note | No 61 | Beyond voluntary disclosure: why a ‘market-shaping’ approach to financial regulation is needed to meet the challenge of climate change | Josh Ryan-Collins |
| Mar 2019 | Policy Note | No 59 | New Frontiers in the Euro Debate in Iceland | Thorsteinn Thorgeirsson |
| Feb 2019 | Policy Note | No 57 | Creating an enabling environment for innovation and digitalisation | Debora Revoltella, Tim Bending, Christoph Weiss, Philipp-Bastian Brutscher |
| Nov 2018 | Policy Note | No 48 | Trends and Cycles in Financial Intermediation | Philip R. Lane |
| Nov 2018 | Policy Note | No 47 | Regtech meets financial supervision: how climate scenario analysis by supervisors is ushering in a new regulatory paradigm | Jakob Thomä |
| Oct 2018 | Policy Note | No 44 | A Financial Union for the Euro Area | Poul M. Thomsen |
| Oct 2018 | Policy Note | No 43 | A Green Supporting Factor — The Right Policy? | Jacob Dankert, Lars van Doorn, Henk Jan Reinders, Olaf Sleijpen |
| Jul 2018 | Policy Note | No 39 | Green bond finance and certification | Torsten Ehlers, Frank Packer |
| Jun 2018 | Policy Note | No 38 | The future for central bank balance sheets and their potential use as a macroprudential tool | Paul Fisher |
| Jun 2018 | Policy Note | No 36 | Temporary Eurobill Fund (TEF): 30 FAQs | Graham Bishop |
| May 2018 | Policy Note | No 35 | Strengthening the euro area Architecture: A proposal for Purple bonds | Lorenzo Bini Smaghi, Michala Marcussen |
| May 2018 | Policy Note | No 32 | Central Bank Accountability and Judicial Review | Charles Goodhart, Rosa Lastra |
| Mar 2018 | Policy Note | No 29 | European Monetary Union reform preferences of French and German parliamentarians | Sebastian Blesse, Pierre C. Boyer, Friedrich Heinemann, Eckhard Janeba, Anasuya Raj |
| Mar 2018 | Policy Note | No 28 | Credit conditions and corporate investment in Europe | Laurent Maurin, Rozalia Pal, Philipp-Bastian Brutscher |
| Jan 2018 | Policy Note | No 25 | The New Silk Road: Implications for Europe | Stephan Barisitz, Alice Radzyner |
| Nov 2017 | Policy Note | No 21 | Risk sharing in EMU: key insights from a literature review | Demosthenes Ioannou, David Schäfer |
| Nov 2017 | Policy Note | No 20 | Recent developments in Chinese shadow banking | Michael Chui, Christian Upper |
| Oct 2017 | Policy Note | No 19 | Is cash back? Assessing the recent increase in cash demand | Clemens Jobst, Helmut Stix |
| Oct 2017 | Policy Note | No 18 | Is there a risk of snapback in long-dated yields? | Hyun Song Shin |
| May 2017 | Policy Note | No 12 | (No) worries about the new shape of international capital flows | Matthieu Bussiére, Julia Schmidt, Natacha Valla |
| Mar 2017 | Policy Note | No 11 | Completing the architecture of the Euro | Lorenzo Bini Smaghi |
| Jan 2017 | Policy Note | No 10 | Bail-ins: Issues of Credibility and Contagion | Clas Wihlborg |
| Apr 2016 | Policy Note | No 5 | Some seeming paradoxes or interesting points of Russia’s economy and banking sector | Stephan Barisitz |
| Dec 2015 | Policy Note | No 3 | Cash without future? Future without cash? A wider view | Christian Beer, Urs W. Birchler, Ernest Gnan |
| Sep 2015 | Policy Note | No 1 | What is money and who says so? | Peter R. Fisher |
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