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 550 | Lower for longer under Endogenous Technology Growth | Michaela Elfsbacka Schmöller, Martin Spitzer |
Mar 2023 | Policy Brief | No 545 | Is the ECB Monetary Tightening Effective? The Role of Bank Funding and Asset Structure | Matjaž Volk |
Mar 2023 | Policy Note | No 304 | Should central banks raise inflation targets? | Ernest Gnan, Robert Holzmann |
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 |
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 523 | Into the Universe of Unconventional Monetary Policy: State-dependence, Interaction and Complementarities | Andrejs Zlobins |
Jan 2023 | Policy Brief | No 510 | Bank and non-bank balance sheet responses to monetary policy shocks | Fédéric Holm-Hadulla, Falk Mazelis, Sebastian Rast |
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 491 | Risk sharing and monetary policy transmission | Sebastian Hauptmeier, Fédéric Holm-Hadulla, Théodore Renault |
Dec 2022 | Policy Brief | No 480 | Quantitative forward guidance through interest rate projections | Boris Hofmann, Dora Xia |
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 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 462 | Disclosure of climate change risks in credit ratings | Miriam Breitenstein, Stefania Ciummo, Florian Walch |
Nov 2022 | Policy Brief | No 461 | Dual interest rates and the transmission of monetary policy | Francesca Barbiero, Lorenzo Burlon, Maria Dimou, Jan Toczynski |
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 450 | Are Liability Driven Investors (LDIs) a liability for policymakers? | Giacomo Carboni, Martin Ellison |
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 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 444 | How do central bank lending operations interact with equity offering announcements? | Massimo Giuliodori, Jan Kakes, Dimitris Mokas |
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 419 | Was globalization just a little thing in the process of inflation? | Juhana Hukkinen, Matti Viren |
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 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 |
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 398 | Central Banking and Climate Change Policies: It is not Always a Positive Sum Game | Donato Masciandaro, Riccardo Russo |
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 390 | Dissent in the ECB’s Governing Council Increases Households’ Inflation Uncertainty | Moritz Grebe, Peter Tillmann |
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 372 | Toward a green economy: the role of central bank’s asset purchases | Alessandro Ferrari, Valerio Nispi Landi |
Jul 2022 | Policy Brief | No 370 | Too little too late: ECB’s normalisation path was model- rather than data-driven | Daniel Gros, Farzaneh Shamsfakhr |
Jun 2022 | Policy Brief | No 351 | Currency demand at negative interest rates | Edoardo Rainone |
Jun 2022 | Policy Note | No 280 | Should the ECB consider issuing its own securities? | Wim Boonstra, Bas van Geffen |
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 Note | No 276 | More than an intellectual game: Exploring the monetary policy and financial stability implications of central bank digital currencies | Fabio Panetta |
May 2022 | Policy Brief | No 327 | Under Pressure: Credibility of Monetary Policy | Antoine Camous, Dmitry Matveev |
May 2022 | Policy Brief | No 326 | The impact of QE on sovereign risk | Dirk Broeders, Leo de Haan, Jan Willem van den End |
Apr 2022 | Policy Brief | No 323 | Is Super-Active Fiscal Policy Desirable? | Roberto M. Billi, Carl E. Walsh |
Apr 2022 | Policy Note | No 273 | The return of inflation | Agustín Carstens |
Mar 2022 | Policy Brief | No 299 | When domestic and foreign QE overlap | Paola Di Casola, Pär Stockhammar |
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 272 | Global models for a global pandemic: the impact of COVID-19 on small euro area economies | Pablo Garcia, Pascal Jacquinot, Črt Lenarčič, Matija Lozej, Kostas Mavromatis |
Jan 2022 | Policy Brief | No 265 | Has the Impact of the ECB’s Asset Purchases Diminished Over Time? | Andrejs Zlobins |
Jan 2022 | Policy Note | No 263 | Monetary Policy in a World of Radical Uncertainty | Mervyn King |
Oct 2021 | Policy Brief | No 209 | The one trillion euro CBDC: Issuing a digital euro without disrupting the bank lending channel | Paolo Fegatelli |
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 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 192 | Optimal Robust Monetary Policy with Parameters and Output Gap Uncertainty | Adriana Grasso, Guido Traficante |
Sep 2021 | Policy Note | No 256 | Ultra low interest rates from the perspective of a central banker | Lars Rohde |
Sep 2021 | Policy Note | No 255 | Navigating by r*: safe or hazardous? | Claudio Borio |
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 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 |
Aug 2021 | Policy Note | No 251 | Green Liquidity Moves Mainstream | Patrick Drury Byrne, Sandeep Chana and Sylvain Broyer |
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 Note | No 249 | Gender, women economic concerns and monetary policy decision-making | Sylvie Goulard |
Jul 2021 | Policy Brief | No 125 | Monetary policy surprises trigger different responses in the housing market across European regions | Winfried Koeniger, Benedikt Lennartz, Marc-Antoine Ramelet |
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 105 | Monetary policy space and monetary policy strategies for the euro area | Markus Haavio, Olli-Matti Laine |
Jun 2021 | Policy Note | No 243 | What does research say about the effects of central bank balance sheet policies? | Paola Di Casola |
May 2021 | Policy Note | No 239 | How to prevent a too restrictive fiscal policy in Europe? | Wim Boonstra |
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 |
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 Note | No 228 | CBDC: Where is the unique selling proposition? | Peter Bofinger,Thomas Haas |
Mar 2021 | Policy Brief | No 53 | Who has purchased euro area debt since the start of the health crisis? | Olivier Sirello |
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 |
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 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 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 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 Note | No 198 | The shadow of fiscal dominance: Misconceptions, perceptions and perspectives | Isabel Schnabel |
Sep 2020 | Policy Note | No 192 | A rule-based monetary strategy for the European Central Bank: a call for monetary stability | Juan E. Castañeda |
Aug 2020 | Policy Note | No 190 | Finland and monetary policy through three crises | Tuomas Välimäki and Meri Obstbaum |
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 179 | The need for a new financial architecture after CORONA, an opinion | Freddy Van den Spiegel |
Jun 2020 | Policy Note | No 174 | The international role of the euro | Marco Buti |
Jun 2020 | Policy Brief | No 15 | There is nothing magic in central bank money | Jean Barthélemy, Adrian Penalver |
May 2020 | Policy Brief | No 12 | An ECB digital currency – a flight of fancy? | Yves Mersch |
May 2020 | Policy Note | No 170 | International inflation co-movements | Philip R. Lane |
May 2020 | Policy Note | No 164 | Can we compare the COVID-19 and 2008 crises? | Marc-Olivier Strauss-Kahn |
May 2020 | Policy Note | No 161 | Shh, don’t say it! ECB Helicopter Money: Economics and Politics | Donato Masciandaro |
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 143 | Central Bank Digital Currency: A Primer | Christian Pfister |
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 |
Jan 2020 | Policy Note | No 121 | The quest for policy scope: Implications for monetary policy strategies | Klaas Knot |
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 112 | Inflation In The Eurozone Is Dead. Long Live (The Right Kind Of) Inflation | Sylvain Broyer |
Sep 2019 | Policy Note | No 95 | Controlling CBDC through tiered remuneration | Ulrich Bindseil |
Feb 2019 | Policy Note | No 58 | Disintermediation and re-intermediation effects of the CSPP | Óscar Arce, Ricardo Gimeno, Sergio Mayordomo |
Jan 2019 | Policy Note | No 52 | Monetary Policy beyond normalization | Maria Demertzis |
May 2018 | Policy Note | No 33 | Populism and Central Bank Independence | Donato Masciandaro, Francesco Passarelli |
Feb 2018 | Policy Note | No 27 | Euro area quantitative easing: Large volumes, small impact? | Daniel Gros |
Nov 2016 | Policy Note | No 8 | Doves, Hawks and Pigeons: Behavioral Monetary Policy Making | Donato Masciandaro |
Feb 2016 | Policy Note | No 4 | Gender diversity and monetary policy | Donato Masciandaro, Paola Profeta, Davide Romelli |