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 |
