Research Bulletin - Past issues

Winter 2016
Research Bulletin No. 23
  • Inflation and unemployment in Europe – insights from the ECB’s 2015 Sintra Forum;
  • The heterogeneous interpretation of forward guidance;
  • Shall we trust governments’ fiscal plans?
Summer 2015
Research Bulletin No. 22
  • Financial instability in macroeconomics: a set of new structural models;
  • The financial and macroeconomic effects of OMT announcements;
  • The impact of financial transaction taxes: new evidence
Spring 2014
Research Bulletin No. 21
  • Assessing competitiveness: initial results from the new Compnet micro-based database;
  • Dealing with a liquidity trap when government debt matters;
  • House prices and expectations
Winter 2013/14
Research Bulletin No. 20
  • The sovereign-bank nexus;
  • Choosing variables in macroeconomic modelling;
  • External and macroeconomic adjustment in Spain and Germany
Autumn 2013
Research Bulletin No. 19
  • Introducing systemic financial instability into macroeconomics: how to meet the challenge?;
  • Wealth heterogeneity and the response of consumption to shocks;
  • The Eurosystem household finance and consumption survey: an important resource for policy-makers and researchers
Spring 2013
Research Bulletin No. 18
  • 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
  • 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
  • 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
  • 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
  • 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
  • Managing exchange rate misalignment and current account imbalances;
  • Technology, hours and factor substitution
Spring 2011
Research Bulletin No. 12
  • 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
  • Enhancing monetary analysis;
  • “Return-free risk”? Market pricing in credit risk markets;
  • Macroeconomic forecasting: can forecast combination help?
June 2010
Research Bulletin No. 10
  • Wage dynamics in Europe: some new findings;
  • When does fiscal stimulus work?
  • Risk, uncertainty and monetary policy
March 2010
Research Bulletin No. 9
  • 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
  • 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
  • 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
  • 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
  • Central bank communication;
  • A real-time database for the euro area;
  • Implementing monetary policy using a corridor system
  • Press release: ENGLISH
April 2006
Research Bulletin No. 4
  • 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
  • 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
  • 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
  • Financial contagion: myth or reality?;
  • Monetary policy in a low inflation environment;
  • Policy changes: macroeconomics and identification