Research Bulletin

• Spring 2013
  Research Bulletin No. 18,  2.6 MB, en
  Topics:

  • Heterogeneous transmission mechanism and the credit channel in the euro area;
  • Firm's adjustment during times of crisis;
  • Macroeconomic effects of large-scale asset purchase programs
• Winter 2012
  Research Bulletin No. 17,  2.6 MB, en
  Topics:

  • The impact of the securities markets programme;
  • Conditional probabilities and contagion measures for euro area sovereign default risk;
  • Bank dependence and investment during the financial crisis
• Summer 2012
  Research Bulletin No. 16,  2.6 MB, en
  Topics:

  • Does regulation at home affect bank risk-taking abroad?;
  • Cyclical precautionary saving and monetary policy;
  • What drives the US personal saving rate? The role of wealth, credit and uncertainty
• Spring 2012
  Research Bulletin No. 15,  2.6 MB, en
  Topics:

  • Bubbles, banks and financial stability;
  • Monetary policy analysis and data revisions – vintage combination from a real-time dataset;
  • Credit risk and the zero lower bound on interest rates
• Autumn 2011
  Research Bulletin No. 14,  2.6 MB, en
  Topics:

  • The euro area sovereign crisis: monitoring spillovers and contagion;
  • Financial frictions, financial integration and the international propagation of shocks;
  • Revisiting the information content of core inflation
• Summer 2011
  Research Bulletin No. 13,  577 kb, en
  Topics:

  • Managing exchange rate misalignment and current account imbalances;
  • Technology, hours and factor substitution
• Spring 2011
  Research Bulletin No. 12,  632 kb, en
  Topics:

  • New methodologies for systemic risk measurement;
  • What can the Diamond-Mortensen-Pissarides model tell us about the conduct of monetary policy in the euro area?
  • Rational inattention
• November 2010
  Research Bulletin No. 11,  632 kb, en
  Topics:

  • Enhancing monetary analysis;
  • “Return-free risk”? Market pricing in credit risk markets;
  • Macroeconomic forecasting: can forecast combination help?
• June 2010
  Research Bulletin No. 10,  620 kb, en
  Topics:

  • Wage dynamics in Europe: some new findings;
  • When does fiscal stimulus work?
  • Risk, uncertainty and monetary policy
• March 2010
  Research Bulletin No. 9,  620 kb, en
  Topics:

  • The forgotten markets: how understanding money markets helps us to understand the financial crisis;
  • Bank lending standards and the origins and implications of the current banking crisis;
  • Financial conditions and monetary policy;
  • Incorporating financial frictions into new-generation macro models;
• March 2009
  Research Bulletin No. 8,  1.2 MB, en
  New design, for enhanced readability and a better presentation of our research work
  Topics:

  • Banks, credit and the transmission mechanism of monetary policy;
  • Business cycles in the euro area;
  • Global liquidity as an early warning indicator for asset price boom/bust cycles;
  • ECB Central Banking Conference;
  • International Research Forum on Monetary Policy;
  • Conference of the Eurosystem/ESCB Wage Dynamics Network
• June 2008
  Research Bulletin No. 7,  764 kb, en
  Topics:

  • A research perspective on the propagation of the credit market turmoil;
  • Financial innovation and the effect of housing wealth on consumption;
  • Regional inflation dynamics within and across euro area countries and a comparison with the United States;
  • Geneva Report on “International financial stability”
• June 2007
  Research Bulletin No. 6,  208 kb, en
  Topics:

  • Explaining financial market puzzles with learning;
  • Financial integration and capital flows in the new EU Member States;
  • Productivity growth in the euro area
• December 2006
  Research Bulletin No. 5,  208 kb, en
  Topics:

  • Central bank communication;
  • A real-time database for the euro area;
  • Implementing monetary policy using a corridor system

  
  Press release: en
• April 2006
  Research Bulletin No. 4 [Online only],  160 kb, en
  Topics:

  • How do VAT changes affect the economy? An illustration using the new area-wide model;
  • Global imbalances and "excess liquidity": is there a link?;
  • Cross-border banking and competition policy
• November 2005
  Research Bulletin No. 3 [Online only],  243 kb, en
  Topics:

  • Economic determinants of risk premia in the term structure of interest rates;
  • Is inflation a global phenomenon?;
  • The impact of higher wages on output and inflation
• April 2005
  Research Bulletin No. 2 [Online only],  1079 kb, en
  Topics:

  • Monetary policy and imperfect knowledge;
  • The central banker as a risk manager;
  • Securities settlement and financial integration: why do we care?
• November 2004
  Research Bulletin No. 1 [Online only],  135 kb, en
  Topics:

  • Financial contagion: myth or reality?;
  • Monetary policy in a low inflation environment;
  • Policy changes: macroeconomics and identification
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