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ECB - Working paper series

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Latest posts

Last updated 3 days ago

Monetary policy and growth-at-risk: the role of institutional quality

3 days ago

This paper analyses how country-specific institutional quality shapes the impact of monetary...

Climate capitalists

3 days ago

Firms’ perceived cost of green capital has decreased since the rise of...

Monetary and fiscal policy interactions: risks to price stability in times of high government debt

13 days ago

The change in macroeconomic conditions since the ECB’s strategy review in 2021...

Stablecoins, money market funds and monetary policy

14 days ago

Using a new series of crypto shocks, we document that money market...

Capital requirements in Pillar 1 or Pillar 2: does it matter for market discipline?

14 days ago

The results of this paper provide empirical evidence that regulatory capital ratios...

How income expectations adjust to inflation – a consumers’ expectations-revealed pass-through

19 days ago

We use inflation and income growth expectations from the ECB Consumer Expectations...

The inflationary consequences of prioritising central bank profits

20 days ago

This paper examines the impact of rising interest rates on central bank...

Unraveling the drivers of energy-saving technical change

20 days ago

We explore the increasing divergence between economic growth and energy consumption through...

Asymmetries in the transmission of monetary policy shocks over the business cycle: a Bayesian Quantile Factor Augmented VAR

27 days ago

This paper introduces a Bayesian Quantile Factor Augmented VAR (BQFAVAR) to examine...

Estimating the full effect of a partially anticipated event: a market-based approach applied to the case of TLTROIII

about 1 month ago

This paper presents an event-study methodology that combines market data and survey-based...

Tackling the volatility paradox: spillover persistence and systemic risk

about 1 month ago

Financial losses can have persistent effects on the financial system. This paper...

Digital euro demand: design, individuals’ payment preferences and socioeconomic factors

about 1 month ago

By applying a structural demand model to unique consumer-level survey data from...