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) |
| Dec 2023 | Policy Note | No 329 | Eurozone Banks: Higher Reserve Requirements Would Dent Profits And Liquidity | Nicolas Charnay, Pierre Hollegien |
| Nov 2023 | Policy Note | No 328 | Central banks’ endgame: a new policy paradigm | Mahmood Pradhan, Lorenzo Portelli, Tristan Perrier |
| Nov 2023 | Policy Note | No 327 | Protect the Safe Core: Restating the Central Bank Mandate | Enrico Perotti |
| Nov 2023 | Policy Note | No 326 | Shrinking the Eurosystem’s footprint without offshoring the euro | Robert N McCauley |
| Nov 2023 | Policy Brief | No 717 | The role of demand and supply factors during a period of high inflation – the case of Ireland | Thomas Conefrey, Darragh McLaughlin |
| Oct 2023 | Policy Brief | No 702 | A two-tier system of minimum reserve requirements by De Grauwe and Ji (2023): A closer look | Claudia Kwapil |
| Oct 2023 | Policy Note | No 323 | What An Acceleration of Quantitative Tightening Could Mean For Eurozone Banks | Nicolas Charnay, Pierre Hollegien, Sylvain Broyer, Aude Guez |
| Oct 2023 | Policy Brief | No 694 | The external financial spillovers of CBDCs | Alessandro Moro, Valerio Nispi Landi |
| Sep 2023 | Policy Note | No 322 | Central Banks: Firefighters or Pyromaniacs in Recent Crises? | Marc-Olivier Strauss-Kahn |
| Sep 2023 | Policy Brief | No 679 | The current Polycrisis versus the Global Financial Crisis | Marc-Olivier Strauss-Kahn |
| Aug 2023 | Policy Brief | No 667 | Fifty shades of QE: Robust evidence | Brian Fabo, Martina Jancokova, Elisabeth Kempf, Lubos Pastor |
| Aug 2023 | Policy Brief | No 665 | The Economics of Public Policy Leaks: New Evidence from Central Banking | Michael Ehrmann, Phillipp Gnan, Kilian Rieder |
| Aug 2023 | Policy Brief | No 660 | Central clearing in turbulent times: frontiers in regulation and oversight | Fabio Panetta |
| Jul 2023 | Policy Brief | No 646 | CBDC and business cycle dynamics in a New Monetarist New Keynesian model | Katrin Assenmacher, Lea Bitter, Annukka Ristiniemi |
| Jul 2023 | Policy Brief | No 637 | How the central bank collateral framework shapes the outcomes of liquidity stress test models | Angelo Cuzzola, Claudio Barbieri, Ulrich Bindseil |
| Jul 2023 | Policy Note | No 315 | Privatization Effects on Central and Eastern European Enterprises: An Empirical Framework from a Bibliometric Analysis | Margerita Topalli, Silvester Ivanaj |
| Jul 2023 | Policy Brief | No 634 | 2020s vs 1970s: echoes, not a replay | Monica Defend, Vincent Mortier |
| Jun 2023 | Policy Brief | No 624 | CCP initial margin models: A peek under the hood | Ismael Alexander Boudiaf, Martin Scheicher, Francesco Vacirca |
| Jun 2023 | Policy Brief | No 614 | After the crypto-winter, the spring of crypto-assets regulation and supervision | Denis Beau |
| Jun 2023 | Policy Brief | No 612 | Digital Euro: An assessment of the first two progress reports | Dirk Niepelt |
| 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 |
| May 2023 | Policy Brief | No 598 | Do hawks sit on stronger branches? Central banks’ equity and policy reactions | Marcel Barmeier, André Casalis |
| May 2023 | Policy Note | No 311 | Getting up from the floor | Claudio Borio |
| May 2023 | Policy Brief | No 588 | The digital euro: a precautionary device, not a deus-ex-machina | Ignazio Angeloni |
| May 2023 | Policy Brief | No 587 | CBDC Policies in Open Economies | Michael Kumhof, Marco Pinchetti, Phurichai Rungcharoenkitkul, Andrej Sokol |
| 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 Note | No 307 | Back to normal? Balance sheet size and interest rate control | Isabel Schnabel |
| 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 549 | CCPs United: the hidden dangers of shared clearing membership | Luitgard A. M. Veraart, Iñaki Aldasoro |
| Mar 2023 | Policy Brief | No 541 | Climate Risks in Albania and their Relevance to the Central Bank | Margerita Topalli, Pierre Monnin |
| Mar 2023 | Policy Note | No 304 | Should central banks raise inflation targets? | Ernest Gnan, Robert Holzmann |
| 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 527 | Central Bank digital currencies in Africa: catching up | Enrique Alberola, Ilaria Mattei |
| Feb 2023 | Policy Brief | No 524 | Highly Dispersed inflation rates challenge the ECB’s monetary policy strategy | Thomas Url |
| Jan 2023 | Policy Brief | No 511 | Eurozone Government Bond Spreads: A Tale of Different ECB Policy Regimes | Sylvester C W Eijffinger, Mary Pieterse-Bloem |
| Jan 2023 | Policy Brief | No 500 | The use of the Eurosystem’s monetary policy instruments and its monetary policy implementation framework in 2020 and 2021 | Marco Corsi, Yvo Mudde |
| 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 494 | Introducing Green Bank Equity to fund the low-carbon transition | Aaron Janowski |
| Dec 2022 | Policy Brief | No 481 | Should central banks be involved in historical research? | Ivo Maes |
| Dec 2022 | Policy Brief | No 480 | Quantitative forward guidance through interest rate projections | Boris Hofmann, Dora Xia |
| 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 460 | Demystifying wholesale central bank digital currency | Fabio Panetta |
| 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 |
| 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 439 | The potential of central bank digital currencies for cross-border payments | Anneke Kosse, Ilaria Mattei |
| Oct 2022 | Policy Brief | No 438 | Instinctive and reflective trust in the European Central Bank | Siria Angino, Stefania Secola |
| Sep 2022 | Policy Brief | No 430 | Central bank capital | Paul Wessels, Dirk Broeders |
| 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 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 Note | No 286 | The optimal quantity of CBDC in the euro area | Lorenzo Burlon, Carlos Montes-Galdón, Manuel A. Muñoz, Frank Smets |
| 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 377 | What lessons can we learn from the heterogeneity in inflation expectations among economic agents? | Camille Cornand, Paul Hubert |
| 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 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 |
| Jun 2022 | Policy Brief | No 363 | Stablecoins - DeFi, Libra and beyond | Heike Mai |
| Jun 2022 | Policy Brief | No 360 | On the psychology of inflation and its implications | Pascal Blanqué |
| 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 328 | Ideology and Monetary Policy: The role of political parties’ stances in the ECB’s parliamentary hearings | Nicolò Fraccaroli, Alessandro Giovannini, Jean-François Jamet, Eric Persson |
| 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 321 | Would a retail CBDC achieve its intended purpose? | Romain Baeriswyl, Samuel Reynard, Alexandre Swoboda |
| Mar 2022 | Policy Brief | No 296 | The political economy of reforms in central bank design | Davide Romelli |
| Mar 2022 | Policy Brief | No 295 | How do Asian central banks use big data? Insights from an Irving Fisher Committee survey | Giulio Cornelli, Sebastian Doerr, Leonardo Gambacorta, Bruno Tissot |
| Mar 2022 | Policy Brief | No 294 | Preparing for the Financial System of the Future | Lael Brainard |
| Mar 2022 | Policy Brief | No 290 | Should monetary finance remain taboo? | Itai Agur, Damien Capelle, Giovanni Dell’Ariccia, Damiano Sandri |
| 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 277 | Money and psychology of inflation: an investor view | Pascal Blanqué |
| Feb 2022 | Policy Brief | No 275 | The effectiveness of ECB euro liquidity lines: spillovers and spillbacks | Silvia Albrizio, Iván Kataryniuk, Luis Molina, Jan Schäfer |
| Feb 2022 | Policy Note | No 265 | Austrian conceptions of money and the rise of digital currency | Michael Peneder |
| Jan 2022 | Policy Brief | No 265 | Has the Impact of the ECB’s Asset Purchases Diminished Over Time? | Andrejs Zlobins |
| Jan 2022 | Policy Brief | No 264 | Why disinflation can be more costly in a small open economy than in a closed economy | Oleksandr Faryna, Magnus Jonsson, Nadiia Shapovalenko |
| Jan 2022 | Policy Note | No 263 | Monetary Policy in a World of Radical Uncertainty | Mervyn King |
| 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 |
| 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 222 | Central Bank Digital Currencies, Crypto Currencies, and Anonymity: Economics and Experiments | Emanuele Borgonovo, Stefano Caselli, Alessandra Cillo, Donato Masciandaro, Giovanni Rabitti |
| 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 205 | Mind the promotional gap! Climate-related financial policies and institutional dynamics | Moritz Baer, Emanuele Campiglio, Jérôme Deyris |
| Oct 2021 | Policy Brief | No 197 | How to Design a CBDC? Remuneration, Collateral Haircuts and Quantity Constraints | Katrin Assenmacher, Aleksander Berentsen, Claus Brand, Nora Lamersdorf |
| Sep 2021 | Policy Brief | No 183 | Central bank’s financial result and inter-sectoral transfers of benefits | Krzysztof Kruszewski, Mikołaj Szadkowski |
| Sep 2021 | Policy Note | No 255 | Navigating by r*: safe or hazardous? | Claudio Borio |
| Aug 2021 | Policy Brief | No 168 | Monetary Gold and Central Bank Capital | Kenneth Sullivan |
| Aug 2021 | Policy Brief | No 164 | Banks Fearing the Drought? Liquidity Hoarding as a Response to Idiosyncratic Interbank Funding Dry-Ups | Helge C.N. Littke, Matias Ossandon Busch |
| Aug 2021 | Policy Brief | No 153 | What’s the Message? Interpreting Monetary Policy Through Central Bankers’ Speeches | Martin Feldkircher, Paul Hofmarcher, Pierre Siklos |
| Aug 2021 | Policy Brief | No 149 | Regulation of crypto-assets is a must for governments and central banks | Daniel Daianu |
| 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 |
| Jul 2021 | Policy Brief | No 135 | Liquidity in the German corporate bond market: has the CSPP made a difference? | Kathi Schlepper |
| Jul 2021 | Policy Note | No 249 | Gender, women economic concerns and monetary policy decision-making | Sylvie Goulard |
| Jul 2021 | Policy Brief | No 127 | Women and Monetary Policy | Paola Profeta |
| Jun 2021 | Policy Brief | No 119 | Six ways to bring inflation (expectations) up | Ernest Gnan |
| 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 111 | A rising core lifts all baskets | Bruce Kasman, Joseph Lupton, Michael S Hanson |
| May 2021 | Policy Brief | No 95 | A digital euro to meet the expectations of Europeans | Fabio Panetta |
| May 2021 | Policy Note | No 239 | How to prevent a too restrictive fiscal policy in Europe? | Wim Boonstra |
| May 2021 | Policy Brief | No 85 | Navigating the Digital Transition, Maintaining a Stable Payment System | Denis Beau |
| Apr 2021 | Policy Brief | No 81 | How the Capital Markets Union can help Europe avoid a liquidity trap | Sylvain Broyer |
| Apr 2021 | Policy Brief | No 77 | Smoke and Mirrors: On cancelling public debts held by the Eurosystem | Jef Boeckx and Xavier Debrun |
| Apr 2021 | Policy Brief | No 67 | How do central banks use big data and machine learning? | Sebastian Doerr, Leonardo Gambacorta, Jose Maria Serena |
| Apr 2021 | Policy Brief | No 61 | A backstop liquidity facility for a greener economy | Eric Jondeau, Benoit Mojon, Cyril Monnet |
| Mar 2021 | Policy Brief | No 59 | Whatever it takes to save the planet? Central banks and unconventional green policy | Alessandro Ferrari, Valerio Nispi Landi |
| Mar 2021 | Policy Brief | No 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 Brief | No 55 | Debt cancellation by the ECB: Does it make a difference? | Paul de Grauwe |
| Feb 2021 | Policy Brief | No 52 | Pandemic Recession, Recovery Plan and Helicopter Money: A Tale from the Serenissima | Charles Goodhart, Donato Masciandaro, Stefano Ugolini |
| Feb 2021 | Policy Brief | No 50 | The rise of digital watchers | Till Ebner, Thomas Nellen, Jörn Tenhofen |
| Feb 2021 | Policy Note | No 222 | A pragmatic solution for the liquidity in resolution problem | Matthias Gruber, Stefan W. Schmitz |
| 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 |
| Dec 2020 | Policy Note | No 211 | Preparing for a higher inflation regime | Elga Bartsch, Jean Boivin, Philipp Hildebrand |
| Nov 2020 | Policy Note | No 205 | Retail CBDC Remuneration: The Sign Matters | Christian Pfister |
| Oct 2020 | Policy Note | No 202 | Policy revolution | Elga Bartsch, Jean Boivin, Stanley Fischer, Philipp Hildebrand |
| 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 Note | No 196 | The Eurosystem collateral framework in 2018 and 2019 | Marco Corsi, Benjamin Hartung, Viktoriya Gocheva |
| Sep 2020 | Policy Brief | No 29 | A Journey through the Monetary Cyber World | Christian Pfister |
| Sep 2020 | Policy Note | No 193 | Inclusive payments for the post-pandemic world | Raphael Auer, Jon Frost, Thomas Lammer, Tara Rice, Amber Wadsworth |
| Aug 2020 | Policy Note | No 190 | Finland and monetary policy through three crises | Tuomas Välimäki and Meri Obstbaum |
| Jul 2020 | Policy Note | No 183 | Retail Central Bank Digital Currencies: means of payment vs store of value | Santiago Fernández de Lis, Pablo Urbiola |
| Jul 2020 | Policy Note | No 182 | Europe’s answer to Libra – potential and prerequisites of a programmable euro | Andreas Krautscheid, Tobias Tenner, Siegfried Utzig |
| Jun 2020 | Policy 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 Brief | No 10 | German Constitutional Court vs ECB: Law, Economics and Politics | Donato Masciandaro |
| May 2020 | Policy Note | No 161 | Shh, don’t say it! ECB Helicopter Money: Economics and Politics | Donato Masciandaro |
| 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 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 |
| Feb 2020 | Policy Note | No 131 | Populism, Economic Policies and Central Banking: an Overview | Ernest Gnan, Donato Masciandaro |
| Jan 2020 | Policy Note | No 125 | Should central banks also be supervisors: a political economy perspective | Donato Masciandaro |
| Jan 2020 | Policy Note | No 121 | The quest for policy scope: Implications for monetary policy strategies | Klaas Knot |
| Dec 2019 | Policy Note | No 119 | Central bank independence and inflation | Ryszard Kokoszczyński, Joanna Mackiewicz-Łyziak |
| 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 114 | Central Banking in challenging times | Claudio Borio |
| 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 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 101 | Central bank digital currency: institutional issues | Wim Boonstra |
| Sep 2019 | Policy Note | No 95 | Controlling CBDC through tiered remuneration | Ulrich Bindseil |
| Aug 2019 | Policy Note | No 89 | Central banks still run money creation | Daniel Daianu |
| Jun 2019 | Policy Note | No 78 | Central banks are too risk averse as investors | Massimiliano Castelli, Stefan Gerlach |
| 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 |
| Sep 2018 | Policy Note | No 41 | Central banks should reflect climate risks in monetary policy operations | Pierre Monnin |
| Aug 2018 | Policy Note | No 40 | 21st century cash: Central banking, technological innovation and digital currencies | Fabio Panetta |
| Jun 2018 | Policy Note | No 38 | The future for central bank balance sheets and their potential use as a macroprudential tool | Paul Fisher |
| May 2018 | Policy Note | No 33 | Populism and Central Bank Independence | Donato Masciandaro, Francesco Passarelli |
| May 2018 | Policy Note | No 32 | Central Bank Accountability and Judicial Review | Charles Goodhart, Rosa Lastra |
| Aug 2017 | Policy Note | No 15 | Technological Change and the Future of Cash | François R. Velde |
| Jun 2017 | Policy Note | No 13 | The political economy of central banking in the digital age | Sir Paul Tucker |
| Dec 2016 | Policy Note | No 9 | Two turbulent centuries: Lessons from Austria’s monetary policy, 1816-2016 | Ernest Gnan, Clemens Jobst |
| Nov 2016 | Policy Note | No 8 | Doves, Hawks and Pigeons: Behavioral Monetary Policy Making | Donato Masciandaro |
