Menu

Working paper series

In-depth studies for experts

Our Working Paper Series (WPS) disseminates economic research relevant to the various tasks and functions of the ECB, and provides a conceptual and empirical basis for policy-making. The Working Papers constitute “work in progress”. They are published to stimulate discussion and contribute to the advancement of our knowledge of economic matters. They are addressed to experts, so readers should be knowledgeable in economics.

Discussion papers

Discussion papers differ from standard working papers in that they are more broadly accessible and offer a more balanced perspective. While partly based on original research, they place the analysis in the wider context of the literature on the topic and also explicitly consider the policy perspective.

Availability: ECB Working Papers are available online only, get updated on latest Working Paper releases by RSS news feed.

No. 2020
10 Feb 2017
High frequency trading and fragility
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2019
10 Feb 2017
The impact of constrained monetary policy on fiscal multipliers on output and inflation
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2018
10 Feb 2017
Exchange rate prediction redux: new models, new data, new currencies
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2017
10 Feb 2017
Inside asset purchase programs: the effects of unconventional policy on banking competition
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2016
07 Feb 2017
Interactions between fiscal multipliers and sovereign risk premium during fiscal consolidation: model based assessment for the euro area
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2015
06 Feb 2017
Forecasting euro area inflation using targeted predictors: is money coming back?
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2014
06 Feb 2017
The drivers of revenue productivity: a new decomposition analysis with firm-level data
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2013
03 Feb 2017
Regular versus lump-sum payments in union contracts and household consumption
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2012
03 Feb 2017
Modeling euro area bond yields using a time-varying factor model
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2011
02 Feb 2017
Understanding sovereign rating movements in euro area countries
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2010
02 Feb 2017
The systemic implications of bail-in: a multi-layered network approach
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2009
01 Feb 2017
Securitization and credit quality
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2008
01 Feb 2017
Banks credit and productivity growth
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2007
31 Jan 2017
The rational inattention filter
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2006
25 Jan 2017
Demographics and inflation
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2005
25 Jan 2017
Low inflation and monetary policy in the euro area
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2004
25 Jan 2017
Mind the output gap: the disconnect of growth and inflation during recessions and convex Phillips curves in the euro area
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2003
25 Jan 2017
Exchange rate pass-through in the euro area
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2002
25 Jan 2017
Changing prices... changing times: evidence for Italy
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2001
25 Jan 2017
Will US inflation awake from the dead? The role of slack and non-linearities in the Phillips curve
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 2000
25 Jan 2017
Missing disinflation and missing inflation: the puzzles that aren't
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1999
25 Jan 2017
The long-term distribution of expected inflation in the euro area: what has changed since the great recession?
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1998
25 Jan 2017
Inflation anchoring in the euro area
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1997
25 Jan 2017
Tail co-movement in inflation expectations as an indicator of anchoring
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1996
25 Jan 2017
A new indicator of inflation expectations anchoring
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1995
25 Jan 2017
Unconventional monetary policy and the anchoring of inflation expectations
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1994
25 Jan 2017
Trust, but verify. De-anchoring of inflation expectations under learning and heterogeneity
Task force on low inflation (LIFT)
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1993
24 Jan 2017
Trade, finance or policies: what drives the cross-border spill-over of business cycles?
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1992
24 Jan 2017
Pricing of bonds and equity when the zero lower bound is relevant
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1991
23 Jan 2017
Below the zero lower bound: a shadow-rate term structure model for the euro area
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1990
20 Jan 2017
Financial inclusion: what’s it worth?
Abstract

JEL Classification

loading...

Abstract

loading...

No. 1989
20 Jan 2017
Revenue elasticities in euro area countries
Abstract

JEL Classification

loading...

Abstract

loading...

Disclaimer: Please keep in mind that the papers are published in the name of the author(s). Their views do not necessarily reflect those of the ECB.