Research Bulletin

The Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience.

The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem.

The Research Bulletin also includes information about other recent ECB research activities, including publications by ECB economists in scientific journals and reviews. The contents are reviewed by an Editorial Board.

2016