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) |
| Apr 2023 | Policy Brief | No 562 | Loose Monetary Policy and Financial Instability | Maximilian Grimm, Òscar Jordà, Moritz Schularick, Alan M. Taylor |
| 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 542 | Issuing bonds during the Covid-19 pandemic: is there an ESG premium? | Fabrizio Ferriani |
| Feb 2023 | Policy Brief | No 518 | ECB Significant-Bank Risk Profile and COVID-19 Crisis Containment Phase: What Approach in the Transitioning Phase? | Bozena Gulija, Costanza Russo, Dalvinder Singh |
| Feb 2023 | Policy Note | No 299 | Convergence in GDP per capita in the euro area and the EU at the time of COVID-19 | Mirko Licchetta, Giovanni Mattozz |
| Jan 2023 | Policy Brief | No 512 | Price Setting Before and During the Pandemic: Evidence from Swiss Consumer Prices | Barbara Rudolf, Pascal Seiler |
| Jan 2023 | Policy Brief | No 503 | An international map of gender gaps | Ines Buono, Annalivia Polselli |
| Jan 2023 | Policy Note | No 296 | Finding the right mix: monetary-fiscal interaction at times of high inflation | Isabel Schnabel |
| Nov 2022 | Policy Brief | No 465 | Did COVID-19 induce a reallocation wave? | Agostino Consolo, Filippos Petroulakis |
| Oct 2022 | Policy Brief | No 449 | Natural Language Processing and Financial Markets: Semi-supervised Modelling of Coronavirus and Economic News | Carlos Moreno Pérez, Marco Minozzo |
| Oct 2022 | Policy Brief | No 440 | Forced migration and food crises | Federico Carril-Caccia, Jordi Paniagua, Marta Suárez-Varela |
| 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 429 | Liquidity Coverage Ratios and Monetary Policy Credit in the time of Corona | Viktoriya Gocheva, Yvo Mudde, Jens Tapking |
| Sep 2022 | Policy Brief | No 413 | The EU gas savings plan ahead of a long winter | Marco Protopapa |
| 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 |
| 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 |
| Jul 2022 | Policy Brief | No 375 | A shot in the arm: stimulus packages and firm performance during COVID-19 | Deniz Igan, Ali Mirzaei, Tomoe Moore |
| 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 338 | Mortgage debt relief after economic shocks: lessons from the pandemic | Edward Gaffney, Fergal McCann, Johannes Stroebel |
| Apr 2022 | Policy Note | No 274 | Stylised facts on debt and financial crisis | Pedro Duarte Neves |
| Mar 2022 | Policy Brief | No 301 | Is the ECB applying lessons from the past? | Anselm Küsters |
| 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 Note | No 268 | Crisis-tested Europe – Solidarity with Ukraine spurs European identity | Heinz Handler |
| Mar 2022 | Policy Brief | No 285 | Why the impact of the health crisis in 2020 was uneven across the euro area economies? | Ángel Luis Gómez, Ana del Río |
| Feb 2022 | Policy Brief | No 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 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 |
| Feb 2022 | Policy Brief | No 269 | Recovery as a springboard for change | Debora Revoltella, Tessa Bending, Atanas Kolev |
| 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 256 | Operating leverage and its importance during the Covid-19 pandemic | Katharina Allinger, Ivan Huljak |
| Dec 2021 | Policy Brief | No 253 | Money market funds in the euro area: Vulnerabilities and the role of macroprudential policy | Tom Hudepohl, Jeroen Huiting, Annelie Petersen |
| Dec 2021 | Policy Brief | No 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 247 | Bridge over troubled water? The effectiveness of macroprudential policy during the Covid-19 pandemic in Portugal | Katja Neugebauer, Vítor Oliveira, Ângelo Ramos |
| 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 Note | No 259 | Crises as a catalyst for change – lessons from the past, challenges for the future | Jens Weidmann |
| 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 241 | Mutual funds’ loyalty helped to stabilize ESG stocks during the COVID-19 market crash | Rui Albuquerque, Yrjo Koskinen, Raffaele Santioni |
| Dec 2021 | Policy Brief | No 238 | Business Dynamism, Sectoral Reallocation and Productivity in a Pandemic | Guido Ascari, Andrea Colciago, Riccardo Silvestrini |
| 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 229 | Earnings expectations signal a heterogenous recovery after COVID-19 | Joost Bats, William Greif, Daniel Kapp |
| 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 218 | When the panic broke out: Covid-19 and investment funds’ portfolio rebalancing around the world | Massimiliano Affinito, Raffaele Santioni |
| 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 194 | The impact of COVID-19 on analysts’ sentiment about the banking sector | Alicia Aguilar, Diego Torres |
| 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 186 | Prudential responses to COVID-19 in G20 countries: a missed opportunity to enhance "green" financial policy and regulations? | Paola D’Orazio |
| Sep 2021 | Policy Brief | No 185 | The grocery trolley race in times of Covid-19. Evidence from Italy | Emanuela Ciapanna, Gabriele Rovigatti |
| Sep 2021 | Policy Brief | No 181 | A liquidity risk early warning indicator for Italian banks: a machine learning approach | Maria Ludovica Drudi, Stefano Nobili |
| Aug 2021 | Policy Brief | No 165 | Assessment of the effectiveness of the macroprudential measures implemented in the context of the Covid-19 pandemic | Lucas Avezum, Vítor Oliveira, Diogo Serra |
| Aug 2021 | Policy Brief | No 163 | Heterogeneous firm-level impact and responses to the COVID-19 crisis | Alejandro Fernández-Cerezo, Beatriz González, Mario Izquierdo, Enrique Moral-Benito |
| Aug 2021 | Policy Brief | No 142 | Consumption patterns in Italy during COVID-19 | Elisa Guglielminetti and Concetta Rondinelli |
| Jul 2021 | Policy Brief | No 139 | Consistent recovery and resolution of small and large banks in Europe | Anne Dyrberg Rommer, Louise Kleiner |
| Jul 2021 | Policy Brief | No 138 | Three questions on the outlook for banking | Carolyn Rogers |
| 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 129 | Nearshoring Perspectives after COVID-19: Can Western Balkans Benefit? | Branimir Jovanovic, Mahdi Ghodsi |
| Jul 2021 | Policy Brief | No 123 | Five stylized facts on the Great Lockdown | Francesco Grigoli, Daniel Leigh, and Antonio Spilimbergo |
| Jun 2021 | Policy Note | No 247 | Not alone: Financial support of the Western Balkans | Mauro Giorgio Marrano |
| Jun 2021 | Policy Brief | No 110 | Global vulnerabilities to the COVID-19 variant B.1.617.2 | David Mackie |
| Jun 2021 | Policy Brief | No 104 | The Economic Case for Global Vaccinations: An Epidemiological Model with International Production Networks | Cem Çakmaklı, Selva Demiralp, Şebnem Kalemli-Özcan, Sevcan Yeşiltaş, Muhammed A. Yıldırım |
| Jun 2021 | Policy Brief | No 102 | Assessing the impact of Basel III: Evidence from macroeconomic models | Olivier de Bandt, Bora Durdu, Hibiki Ichiue, Yasin Mimir, Jolan Mohimont, Kalin Nikolov, Sigrid Röhrs, Jean-Guillaume Sahuc, Valerio Scalone, Michael Straughan |
| May 2021 | Policy Brief | No 98 | Detecting turning point in the Danish economy in real time – nowcasting in Danmarks Nationalbank during the covid-19 crisis | Jesper Pedersen |
| May 2021 | Policy Note | No 240 | What Caused The Resurgence In FDI Screening? | Simon J. Evenett |
| May 2021 | Policy Note | No 237 | Will consumers save the EU recovery? - Insights from the Commission’s consumer survey | Roberta Friz, Fiona Morice |
| May 2021 | Policy Brief | No 86 | The Bewildering Effects of COVID-19 and Other Recessions on Forecast Accuracy Measurements | Boriss Siliverstovs |
| 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 Note | No 232 | The Macroeconomics of Covid-19 Leverage | Théophile Jégard, Simon Ray |
| 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 74 | The Great Depression, banking crisis, and Keynes’ paradox of thrift | Victor Degorce, Eric Monnet |
| 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 Brief | No 68 | Banking union - achievements and challenges | Luis de Guindos |
| Apr 2021 | Policy Note | No 231 | The challenges to the banking sector a year after the outbreak of the COVID-19 pandemic | Pablo Hernández de Cos |
| Apr 2021 | Policy Brief | No 64 | Shaken but not deterred: business confidence and Covid-19 in the Euro area | Gene Ambrocio |
| 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 53 | Who has purchased euro area debt since the start of the health crisis? | Olivier Sirello |
| Feb 2021 | Policy Brief | No 48 | Crisis management for medium-sized banks: the case for a European approach | Andrea Enria |
| 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 45 | The crisis management framework for banks in the EU: how Can we deal with small and medium-sized banks? | Ignazio Visco |
| Feb 2021 | Policy Brief | No 44 | The evolution of bond and swap trading | Martin Scheicher |
| Jan 2021 | Policy Brief | No 41 | Is inflation dead or hibernating? | Claudio Borio |
| Jan 2021 | Policy Note | No 217 | The post-COVID-19 recovery: what challenges and roadmap for the banking industry? | Jordi Gual |
| Dec 2020 | Policy Note | No 213 | COVID-19 pandemic: Perception, confusion and conspiracies | Stefan Schneider |
| Dec 2020 | Policy Note | No 215 | Consequences for banks’ business from COVID-19 and policy responses | Francesco Mazzaferro |
| Dec 2020 | Policy Brief | No 39 | Thriving in a post-pandemic world | Debora Revoltella, Pedro de Lima |
| Nov 2020 | Policy Brief | No 36 | A stronger voice for Europe in global development | Werner Hoyer |
| Nov 2020 | Policy Note | No 207 | Surge in corporate insolvencies hitting German banks | Jan Schildbach |
| Nov 2020 | Policy Brief | No 35 | Keynes and Schumpeter are what the European economy needs right now | Sylvain Broyer |
| Oct 2020 | Policy Brief | No 34 | Cross-country differences in Europe’s second COVID wave | David Mackie |
| 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 33 | Update of the European Fiscal Monitor (September 2020) | Willem-Pieter de Groen, Inna Oliinyk |
| 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 Brief | No 31 | Monitoring economic activity in times of Covid-19: moving up to higher frequency | Barbara Castelletti, Marie Delorme, Pavel Diev, Yannick Kalantzis, Antoine Lalliard, Matteo Mogliani |
| Sep 2020 | Policy Brief | No 30 | Can we expect the economy to rebound rapidly? | Stéphane Dupraz |
| 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 28 | Limits and pitfalls of QE in emerging markets | Daniel Daianu |
| Sep 2020 | Policy Brief | No 27 | To each crisis its analogy, to each analogy its critical reflection | Robert Holzmann |
| Sep 2020 | Policy Brief | No 26 | Global value chains and the challenge of Covid-19 | Antoine Berthou, Juan Carluccio, Guillaume Gaulier |
| Aug 2020 | Policy Brief | No 22 | Radical Uncertainty | John Kay |
| Jul 2020 | Policy Note | No 184 | Special Update of the European Fiscal Monitor | Willem-Pieter de Groen, Inna Oliinyk, Sander van Veldhuizen |
| Jul 2020 | Policy Brief | No 20 | How firms are adapting to the lockdown: insights from text mining | Mathilde Gerardin, Martial Ranvier |
| Jul 2020 | Policy Note | No 183 | Retail Central Bank Digital Currencies: means of payment vs store of value | Santiago Fernández de Lis, Pablo Urbiola |
| Jul 2020 | Policy Brief | No 18 | The liquidity trap, monetary policy and the health crisis | Stéphane Lhuissier |
| Jul 2020 | Policy Brief | No 17 | Financial resilience of German households to Corona triggered income shock | Orcun Kaya |
| 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 177 | The EU’s recovery plan is the next generation of fiscal solidarity | Sylvain Broyer |
| Jun 2020 | Policy Note | No 176 | Credit Guarantees in the COVID-19 crisis – Relevance and Economic Impact | Julien Brault, Simone Signore |
| Jun 2020 | Policy Brief | No 16 | Assessing the efficacy of COVID-19 tracing regimes | David Mackie |
| Jun 2020 | Policy Note | No 173 | A first look at fiscal dynamics in the Euro area after COVID-19: the case for a shift in the fiscal governance system | Marco Protopapa |
| Jun 2020 | Policy Brief | No 13 | Keeping the COVID-19 R number below 1 as mobility rises | David Mackie |
| May 2020 | Policy Note | No 172 | Does the EU convergence machine still work and how will the Covid-19 crisis impact it? | Patrick Bisciari, Dennis Essers, Evelien Vincent |
| May 2020 | Policy Brief | No 9 | ECB needs to finance Corona budget deficits | Paul De Grauwe |
| May 2020 | Policy Note | No 164 | Can we compare the COVID-19 and 2008 crises? | Marc-Olivier Strauss-Kahn |
| May 2020 | Policy Brief | No 7 | Covid-19 policy response and the role of the EIB | Debora Revoltella |
| May 2020 | Policy Brief | No 5 | An EU Recovery Fund: How to square the circle? | Kajus Hagelstam, Alice Zoppè, Cristina Sofia Dias |
| 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 156 | Navigation tools in the semi-normal corona era | Andy Langenkamp |
| Apr 2020 | Policy Note | No 155 | The range of different opinions and moods in Germany on collective ‘corona bonds’ | Ingobert Waltenberger |
| Apr 2020 | Policy Note | No 152 | European banks in the corona crisis | Jan Schildbach |
| Apr 2020 | Policy Note | No 150 | How deep will it fall? Comparing the euro area recessions of 2020 and 2009 | Andreas Breitenfellner, Paul Ramskogler |
| Apr 2020 | Policy Note | No 148 | Reflections on the health and financial crisis | Jacques de Larosière |
| Mar 2020 | Policy Note | No 145 | A “European Capitalization and Development Fund” (ECDF) to facilitate Europe’s post-corona recovery | Ernest Gnan |
| 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 139 | Capital Regulations and the Management of Credit Commitments during Crisis Times | Paul Pelzl, María Teresa Valderrama |
| Oct 2019 | Policy Note | No 107 | Tackling non-performing loans in Europe | Peter Grasmann, Markus Aspegren, Nicolas Willems |
| Feb 2019 | Policy Note | No 56 | What lies in store for the eurozone? An assessment of the Greek bailout programmes: Has the EU become wiser? | Yannis Stournaras |
| Jan 2019 | Policy Note | No 53 | The output cost of the global financial crisis: A reappraisal after ten years | David Turner, Patrice Ollivaud |
| Jun 2018 | Policy Note | No 37 | A solid common landing ground for EMU | Jeroen Dijsselbloem |
| May 2018 | Policy Note | No 34 | Modern financial repression in the euro area crisis: making high public debt sustainable? | Ad van Riet |
| Apr 2018 | Policy Note | No 30 | In the euro area, discipline is of the essence, but risk-sharing is no less important | Daniel Daianu |
| Dec 2016 | Policy Note | No 9 | Two turbulent centuries: Lessons from Austria’s monetary policy, 1816-2016 | Ernest Gnan, Clemens Jobst |
