Publications published in 2011
- 21/12/2011
-
Legal working paper no. 13:
Crisis management and bank resolution: Quo vadis, Europe?
- 20/12/2011
- Working paper no. 1411: Government bond risk premia and the cyclicality of fiscal policy
- 20/12/2011
- Working paper no. 1410: Profit dynamics across the largest euro area countries and sectors
- 20/12/2011
-
Working paper no. 1409:
Analysis of variance for bayesian inference
Published in: Econometric Reviews, 2012 (forthcoming)
- 20/12/2011
- Letter from the ECB President to Mr Nuno Melo, Member of the European Parliament
- 20/12/2011
- Letter from the ECB President to Mr Sven Giegold, Member of the European Parliament
- 19/12/2011
- Financial Stability Review Press release:
- 15/12/2011
- Statistics Pocket Book, December 2011
- 15/12/2011
- Monthly Bulletin, December 2011
- 15/12/2011
-
Focus:
Eurosystem staff macroeconomic projections for the euro area: technical assumptions about interest rates, exchange rates, commodity prices and fiscal policies
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Eurosystem staff macroeconomic projections for the euro area: forecasts by other institutions
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Fiscal devaluation - a tool for economic adjustment
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Stronger EU economic governance framework comes into force
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Recent sectoral productivity developments in the euro area and the United States
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Recent developments in the car industry in major euro area countries
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Output volatility in the euro area
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Revisions to forecasts in the ECB survey of professional forecasters: end-2011 compared with end-2008
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
The results of the "Survey on the access to finance of small and medium-sized enterprises in the euro area"
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Estimating real yields and break-even inflation rates following the recent intensification of the sovereign debt crisis
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Liquidity conditions and monetary policy operations in the period from 10 August to 8 November 2011
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Recent developments in the financial account of the euro area balance of payments
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Labour market mobility in the central and eastern European EU member states, compared with that of the euro area, Denmark and Sweden
Monthly Bulletin Issue 12, 2011
- 15/12/2011
-
Focus:
Additional non-standard monetary policy measures decided by the governing council on 8 December 2011
Monthly Bulletin Issue 12, 2011
- 13/12/2011
- Working paper no. 1408: Real-time data and fiscal policy analysis: a survey of the literature
- 13/12/2011
- Working paper no. 1407: Macroeconomic vulnerability and disagreement in expectations
- 13/12/2011
- Working paper no. 1406: The public sector pay gap in a selection of Euro area countries
- 13/12/2011
- Working paper no. 1405: Bond market co-movements, expected inflation and the equilibrium real exchange rate
- 13/12/2011
- Working paper no. 1404: A VAR analysis for the uncovered interest parity and the ex-ante purchasing power parity: the role of macroeconomic and financial information
- 13/12/2011
- Working paper no. 1403: Do EU structural funds promote regional employment? Evidence from dynamic panel data models
- 13/12/2011
- Working paper no. 1402: Monetary policy and the flow of funds in the euro area
- 09/12/2011
-
Letter from the ECB President to Ms Rodi Kratsa-Tsagaropoulou, Member of the European Parliament
[online only]
- 08/12/2011
-
Eurosystem staff macroeconomic projections for the euro area
ENGLISHOTHER LANGUAGES (20) +
[online only]
- 01/12/2011
-
Survey on the access to finance of SMEs in the euro area - April to September 2011
[online only]
Press release: - 28/11/2011
- Working paper no. 1401: Gravity chains: estimating bilateral trade flows when parts and components trade is important
- 28/11/2011
- Working paper no. 1400: Aggregation, the skill premium, and the two-level production function
- 28/11/2011
- Working paper no. 1399: Economic performance and government size
- 28/11/2011
- Working paper no. 1397: Macroeconomic effects of unconventional monetary policy in the euro area
- 28/11/2011
- Working paper no. 1396: Learning from experience in the stock market
- 18/11/2011
-
Standards for the use of central counterparties in Eurosystem foreign reserve management operations, November 2011
[online only]
- 17/11/2011
- Working paper no. 1395: On the importance of prior relationships in bank loans to retail customers
- 14/11/2011
- Oversight assessment of the euro system of the EBA CLEARING company (EURO1) against the CPSS core principles, November 2011 Press release:
- 10/11/2011
- Monthly Bulletin, November 2011
- 10/11/2011
- Statistics Pocket Book, November 2011
- 10/11/2011
-
Focus:
Updating measures of euro area foreign demand to account for changes in the geographical structure of euro area exports
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Focus:
Recent evidence on the uncertainty surrounding real-time estimates of the euro area output gap
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Focus:
Results of the ECB survey of professional forecasters for the fourth quarter of 2011
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Focus:
Recent house price developments in the euro area
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Focus:
Integrated euro area accounts for the second quarter of 2011
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Focus:
Recent developments in MFI loans to non-financial corporations broken down by economic sector
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Article:
Euro area markets for banks' long-term debt financing instruments: recent developments, state of integration and implications for monetary policy transmission
Monthly Bulletin Issue 11, 2011
- 10/11/2011
-
Article:
House price developments in the euro area and the United States
Monthly Bulletin Issue 11, 2011
- 04/11/2011
- Working paper no. 1394: Bank risk during the financial crisis: do business models matter?
- 04/11/2011
- Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments, 2011 update
- 04/11/2011
- The future of retail payments: opportunities and challenges
- 28/10/2011
- Working paper no. 1393: Marx vs. Weber: does religion affect politics and the economy?
- 28/10/2011
-
Working paper no. 1392:
China's dominance hypothesis and the emergence of a tri-polar global currency system
Published in: Economic Journal (forthcoming)
- 28/10/2011
-
Working paper no. 1391:
Interest rate expectations and uncertainty during ECB governing council days: evidence from intraday implied densities of 3-month Euribor
Published in: Journal of Banking & Finance, Vol 36 (10), October 2012: pp 2804-2823 and Journal of International Money and Finance, Vol 33, 2013: pp 118–145
- 28/10/2011
- Working paper no. 1390: Fraud, investments and liability regimes in payment platforms
- 28/10/2011
- Working paper no. 1389: Do newspaper articles on card fraud affect debit card usage?
- 28/10/2011
- Working paper no. 1388: To surcharge or not to surcharge? A two-sided market perspective of the no-surchage rule
- 28/10/2011
- Working paper no. 1387: Consumer credit and payment cards
- 28/10/2011
- Working paper no. 1386: How do you pay? The role of incentives at the point-of-sale
- 28/10/2011
- Working paper no. 1385: Using cash to monitor liquidity - implications for payments, currency demand and withdrawal behavior
- 28/10/2011
- Research Bulletin No. 14
- 20/10/2011
- Letter from the ECB President to Mr Mario Borghezio, Member of the European Parliament
- 19/10/2011
- Institutional provisions. Statute of the ESCB and of the ECB. Rules of procedure, September 2011
- 19/10/2011
- Letter from the ECB President to Mr Nikolaos Chountis, Member of the European Parliament
- 18/10/2011
- Occasional paper no. 132: The size and composition of government debt in the euro area
- 13/10/2011
- Statistics Pocket Book, October 2011
- 13/10/2011
- Monthly Bulletin, October 2011
- 13/10/2011
-
Focus:
The implications of external price pressures for euro area HICP inflation
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Focus:
Private sector involvement and its financial stability implications
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Focus:
TARGET2 balances of national central banks in the euro area
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Focus:
The results of the euro area bank lending survey for the third quarter of 2011
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Focus:
Recent developments in the exchange rate of the Swiss franc against the euro
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Focus:
Financialisation of commodities and cross-market returns
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Article:
The financial crisis in the light of the euro area accounts: a flow-of-funds pespective
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Article:
Structural features of the distributive trades sectors and their impact on euro area price developments
Monthly Bulletin Issue 10, 2011
- 13/10/2011
-
Article:
The supply of money - bank behaviour and the implications for monetary analysis
Monthly Bulletin Issue 10, 2011
- 07/10/2011
- Occasional paper no. 131: Interchange fees in card payments
- 07/10/2011
- Occasional paper no. 130: Some lessons from the financial crisis for the economic analysis
- 04/10/2011
-
Working paper no. 1384:
Trend-cycle decomposition of output and euro area inflation forecasts: a real-time approach based on model combination
Published in: Macroeconomic Dynamics (forthcoming)
- 04/10/2011
-
Working paper no. 1383:
An international comparison of voting by committees
Published in: International Journal of Central Banking, Vol 9 (3), September 2013: pp 150-197
- 04/10/2011
- Structural features of distributive trades and their impact on prices in the euro area
- 30/09/2011
- Occasional paper no. 128: Structural features of distributive trades and their impact on prices in the euro area
- 30/09/2011
-
Euro Money Market Survey 2011
[online only]
Press release: - 22/09/2011
- Occasional paper no. 129: The Stability and Growth Pact - crisis and reform
- 22/09/2011
- Occasional paper no. 127: Beyond the economics of the euro - analysing the institutional evolution of EMU 1999-2010
- 21/09/2011
-
Working paper no. 1382:
Mapping the state of financial stability
Published in: Journal of International Financial Markets, Institutions and Money, Vol 26, October 2013: pp 46-76
- 21/09/2011
-
The implementation of monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures
ENGLISHOTHER LANGUAGES (21) +
[online only]
Press release: - 15/09/2011
- Statistics Pocket Book, September 2011
- 15/09/2011
- Monthly Bulletin, September 2011
- 15/09/2011
-
Focus:
ECB staff macroeconomic projections for the euro area
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
Euro area dependence on international supply chains
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
Indicators of euro area private consumption - current situation and avenues to explore
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
The recent slowdown in economic growth in the euro area
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
Financial markets in early August 2011 and the ECB's monetary policy measures
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
The Eurosystem's balance sheet in times of financial market tension
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
Liquidity conditions and monetary policy operations in the period from 11 May to 9 August 2011
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
Recent developments in the financial account of the euro area balance of payments
Monthly Bulletin Issue 9, 2011
- 15/09/2011
-
Focus:
Driving forces behind recent money and loan dynamics
Monthly Bulletin Issue 9, 2011
- 12/09/2011
-
Working paper no. 1381:
Global crises and equity market contagion
Published in: Journal of Finance (forthcoming) as "The global crisis and equity market contagion"
- 12/09/2011
- Working paper no. 1380: Labour tax progressivity and output volatility: evidence from OECD countries
- 12/09/2011
- Working paper no. 1379: Forecasting economic growth in the euro area during the Great Moderation and the Great Recession
- 12/09/2011
- Working paper no. 1378: Wage setting in Hungary: evidence from a firm survey
- 08/09/2011
-
ECB staff macroeconomic projections for the euro area
ENGLISHOTHER LANGUAGES (20) +
[online only]
- 01/09/2011
- Working paper no. 1377: Ranking, risk-taking and effort: an analysis of the ECB's foreign reserves management
- 01/09/2011
- Working paper no. 1376: The price of liquidity: the effects of market conditions and bank characteristics
- 25/08/2011
- Working paper no. 1375: Precautionary price stickiness
- 25/08/2011
-
Working paper no. 1374:
The 2007 subprime market crisis through the lens of European Central Bank auctions for short-term funds
Published in: Econometrica, Vol 81 (4), July 2013: pp 1309-1345
- 22/08/2011
- Working paper no. 1373: Asset prices, collateral and unconventional monetary policy in a DSGE model
- 22/08/2011
- Working paper no. 1372: Downward wage rigidity in Hungary
- 22/08/2011
- Working paper no. 1371: What is driving oil futures prices? Fundamentals versus speculation
- 22/08/2011
-
Working paper no. 1370:
The global financial crisis: trying to understand the global trade downturn and recovery
Published in: The World Economy Journal, Vol 34 (5), 2011: pp 741-763.
- 22/08/2011
-
Working paper no. 1369:
Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?
Published in: Journal of Money Credit and Banking, Vol 45 (8), December 2013: pp 1547-1579
- 22/08/2011
- Working paper no. 1368: Output growth and fluctuation: the role of financial openness
- 18/08/2011
-
Working paper no. 1367:
Cyclical fluctuations in the Mediterranean basin
Published in: Journal of International Economics, Vol 88 (1), 2012: pp 162-175.
- 18/08/2011
-
Legal working paper no. 12:
Financial sector supervisors' accountability: a european perspective
- 15/08/2011
- Working paper no. 1366: Stock market firm-level information and real economic activity
- 11/08/2011
- Statistics Pocket Book, August 2011
- 11/08/2011
- Monthly Bulletin, August 2011
- 11/08/2011
-
Focus:
The current recovery from a historical perspective
Monthly Bulletin Issue 8, 2011
- 11/08/2011
-
Focus:
Results of the ECB Survey of Professional Forecasters for the third quarter of 2011
Monthly Bulletin Issue 8, 2011
- 11/08/2011
-
Focus:
Integrated euro area accounts for the first quarter of 2011
Monthly Bulletin Issue 8, 2011
- 11/08/2011
-
Focus:
The results of the July 2011 bank lending survey for the euro area
Monthly Bulletin Issue 8, 2011
- 11/08/2011
-
Focus:
Statement by the President of the ECB on 7 August 2011
Monthly Bulletin Issue 8, 2011
- 11/08/2011
-
Article:
Keeping the ECB's monetary and financial statistics fit for use
Monthly Bulletin Issue 8, 2011
- 10/08/2011
-
2011 update of the ECB’s environmental statement
[online only]
- 05/08/2011
-
Letter from the ECB President to Mr Ioannis A. Tsoukalas, Member of the European Parliament
[online only]
- 03/08/2011
-
Letter from the ECB President to Mr. Nuno Teixeira, Member of the European Parliament, regarding the exchange rate of the euro
[online only]
- 01/08/2011
- Working paper no. 1365: Understanding and forecasting aggregate and disaggregate price dynamics
- 27/07/2011
- Occasional paper no. 126: Euro area cross-border financial flows and the global financial crisis
- 22/07/2011
- The international role of the euro Press release:
- 20/07/2011
- Working paper no. 1364: Capital flows, push versus pull factors and the global financial crisis
- 20/07/2011
- Working paper no. 1363: Forecasting inflation with gradual regime shifts and exogenous information
- 20/07/2011
- Working paper no. 1362: Securitization and lending standards: evidence from the wholesale loan market
- 14/07/2011
- Statistics Pocket Book, July 2011
- 14/07/2011
- Monthly Bulletin, July 2011
- 14/07/2011
-
Focus:
Recent productivity developments in the euro area and the United States
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Focus:
Investment ratios in the euro area
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Focus:
Household spending, consumer confidence and durable consumption
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Focus:
Analysis of government debt sustainability under the EU/IMF adjustment programme for Greece
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Focus:
The impact of loan sales and securitisation activity on recent developments in MFI loans to non-financial corporations and households
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Focus:
Are recent wage increases in China putting upward pressure on euro area import prices?
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Article:
The new EU framework for financial crisis management and resolution
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Article:
The European stability mechanism
Monthly Bulletin Issue 7, 2011
- 14/07/2011
-
Article:
The ECB's non-standard measures - impact and phasing-out
Monthly Bulletin Issue 7, 2011
- 12/07/2011
- Working paper no. 1361: Identifying the effects of government spending shocks with and without expected reversal: an approach based on U.S. real-time data
- 12/07/2011
- Working paper no. 1360: How flexible are real wages in EU countries? A panel investigation
- 12/07/2011
-
Working paper no. 1359:
Does bargaining matter in the small firm's matching model?
Published in: Labour Economics, Vol 21, April 2013: pp 42-58
- 05/07/2011
-
Letter from the ECB President to Mr Andreas Mölzer, Member of the European Parliament, relating to monetary policy and questions on inflation
[online only]
- 05/07/2011
-
Eurosystem oversight policy framework
[online only]
- 24/06/2011
- Research Bulletin No. 13
- 22/06/2011
-
Working paper no. 1358:
Determinants of credit-less recoveries
Published in: Empirical Economics, Vol 49, 2015: pp 1245-1269 as "Key features and determinants of credit-less recoveries"
- 22/06/2011
- Working paper no. 1357: Assessing the sensitivity of inflation to economic activity
- 21/06/2011
-
Letter from the ECB President to Ms Marine Le Pen, Member of the European Parliament
[online only]
- 16/06/2011
- Monthly Bulletin, June 2011
- 16/06/2011
- Statistics Pocket Book, June 2011
- 16/06/2011
-
Focus:
Eurosystem staff macroeconomic projections for the euro area: forecasts by other institutions
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Eurosystem staff macroeconomic projections for the euro area: technical assumptions about interest rates, exchange rates, commodity prices and fiscal policies
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
The impact of the global financial and economic crisis on public finances in central and eastern
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Past experience of EU countries with sustaining large primary budget surpluses
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Back to Okun's Law? Recent developments in euro area output and unemployment
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Developments in the euro area balance of payments to March 2011
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
A cross-check of output gap estimates for the euro area with other cyclical indicators
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Liquidity conditions and monetary policy operations in the period from 9 February to 10 May 2011
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Euro area broad money growth and the unwinding of accumulated liquidity
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
The experience of macroeconomic adjustment in the Baltic States
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
Focus:
Inflation in the euro area and the United States: an assessment based on the Phillips curve
Monthly Bulletin Issue 6, 2011
- 16/06/2011
-
BIS triennial survey 2010 - euro area data
Assessment of foreign exchange and derivatives market activity [online only]
- 15/06/2011
- Financial Stability Review Press release:
- 14/06/2011
- Working paper no. 1356: The role of oil prices in the euro area economy since the 1970s
- 14/06/2011
- Working paper no. 1355: Household's portfolio structure in Germany - analysis of financial accounts data 1959-2009
- 14/06/2011
- Working paper no. 1354: Saudi Aramco and the oil market
- 14/06/2011
- Working paper no. 1353: Exchange rate anchoring - Is there still a de facto US dollar standard?
- 10/06/2011
- Working paper no. 1352: Systemic risk and financial development in a monetary model
- 10/06/2011
-
Letter from the ECB President to Mr Mário David, Member of the European Parliament
[online only]
- 10/06/2011
-
Letter from the ECB President to Mr Nuno Melo, Member of the European Parliament
[online only]
- 09/06/2011
-
Eurosystem staff macroeconomic projections for the euro area
[online only]
- 06/06/2011
- Working paper no. 1351: Potential output in DSGE models
- 06/06/2011
- Working paper no. 1350: The optimal width of the central bank standing facilities corridor and banks' day-to-day liquidity management
- 06/06/2011
- Working paper no. 1349: Consumer confidence as a predictor of consumption spending: evidence for the United States and the euro area
- 03/06/2011
- Approaches to monetary policy revisited – lessons from the crisis. Sixth ECB Central Banking Conference 18-19 November 2010 Press release:
- 01/06/2011
- Working paper no. 1348: Theoretical notes on bubbles and the current crisis
- 01/06/2011
-
Working paper no. 1347:
Sovereign credit ratings and financial markets linkages: application to European data
Published in: Journal of International Money and Finance, Vol 31 (3), 2012: pp 606-638.
- 01/06/2011
- Working paper no. 1346: Do financial investors destabilize the oil price?
- 01/06/2011
- Working paper no. 1345: Systemic risk-taking: amplification effects, externalities, and regulatory responses
- 01/06/2011
-
Letter to the Clearing and Intermediary Oversight, Commodity Futures Trading Commission and to the Trading and Markets, Securities and Exchange Commission
[online only]
- 31/05/2011
-
European Commission’s public consultation on the technical details of a possible EU framework for bank recovery and resolution – ESCB contribution
[online only]
European Commission: Consultation on technical details of a possible European crisis management framework - 27/05/2011
-
Working paper no. 1344:
Have euro area and EU economic governance worked? Just the facts
Published in: European Journal of Political Economy (forthcoming)
- 27/05/2011
- Working paper no. 1343: The predictive content of sectoral stock prices: a US-euro area comparison
- 27/05/2011
-
Working paper no. 1342:
Fiscal data revisions in Europe
Published in: Journal of Money, Credit and Banking, Vol 45 (6), 2013: pp 1187-1209
- 27/05/2011
-
Working paper no. 1341:
Exact likelihood computation for nonlinear DSGE models with heteroskedastic innovations
Published in: Journal of Economic Dynamics and Control, Vol 35, 2011: pp 2167â€2185.
- 19/05/2011
-
TARGET Annual Report 2010
[online only]
Press release: - 16/05/2011
- Working paper no. 1340: How wages respond to shocks: asymmetry in the speed of adjustment
- 12/05/2011
- Statistics Pocket Book, May 2011
- 12/05/2011
- Monthly Bulletin, May 2011
- 12/05/2011
-
Working paper no. 1339:
The stock market reaction to the 2005 non-tradable share reform in China
Published in: Pacific-Basin Finance Journal, Vol 20, 2012: pp 543–560.
- 12/05/2011
-
Focus:
Euro area trade in services: specialisation patterns and recent trends
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Focus:
The measurement and prediction of the euro area business cycle
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Focus:
Results of the ECB Survey of Professional Forecasters for the second quarter of 2011
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Focus:
Integrated euro area accounts for the fourth quarter of 2010
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Focus:
The results of the "Survey on the access to finance of small and medium-sized enterprises in the euro area"
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Focus:
The results of the April 2011 bank lending survey for the euro area
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Focus:
Global economic repercussions of the earthquake in Japan
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Article:
The external representation of the EU and EMU
Monthly Bulletin Issue 5, 2011
- 12/05/2011
-
Article:
Patterns of euro area and US macroeconomic cycles - what has been different this time?
Monthly Bulletin Issue 5, 2011
- 11/05/2011
-
Working paper no. 1338:
Financial frictions and optimal monetary policy in an open economy
Published in: International Journal of Central Banking, Vol 10 (1), 2014, pp43-94
- 06/05/2011
-
The monetary policy of the ECB (third edition)
ePub: en
Press release: - 03/05/2011
-
Letter from the ECB President to Mr Nikolaos Chountis, Member of the European Parliament
[online only]
- 02/05/2011
-
Annual Report 2010
ENGLISHOTHER LANGUAGES (20) +
- 02/05/2011
- Working paper no. 1337: Who invests in home equity to exempt wealth from bankruptcy?
- 02/05/2011
-
Working paper no. 1336:
A monetary policy strategy in good and bad times: lessons from the recent past
Published in: Economic Policy, Vol 28 (74), 2013: pp 243-288
- 02/05/2011
-
Working paper no. 1335:
The bank lending channel: lessons from the crisis
Published in: Economic Policy, Vol (26) 66, 2011: pp 137-182
- 02/05/2011
- Working paper no. 1334: On the importance of sectoral and regional shocks for price-setting
- 02/05/2011
- Financial integration in Europe Press release:
- 28/04/2011
-
Recovery and beyond: lessons for trade adjustment and competitiveness
[online only]
- 27/04/2011
-
Survey on the access to finance of SMEs in the euro area - September 2010 to February 2011
[online only]
Press release: - 20/04/2011
- Working paper no. 1333: Distributional dynamics under smoothly state-dependent pricing
- 20/04/2011
-
Working paper no. 1332:
Central bank communication on financial stability
Published in: Economic Journal (forthcoming)
- 20/04/2011
- Working paper no. 1331: Business cycle dynamics under rational inattention
- 20/04/2011
- Working paper no. 1330: Financial remoteness and the net external position
- 20/04/2011
-
Working paper no. 1329:
Securitization, bank lending and credit quality: the case of Spain
Published in: Journal of International Money and Finance, Vol 31, 2012: pp 80–101
- 20/04/2011
- Working paper no. 1328: The effectiveness of monetary policy in steering money market rates during the recent financial crisis
- 19/04/2011
-
Letter from the ECB President to Mr Nuno Teixeira, Member of the European Parliament
[online only]
- 19/04/2011
-
Letter from the ECB President to Ms Rodi Kratsa-Tsagaropoulou, Member of the European Parliament
[online only]
- 14/04/2011
- Statistics Pocket Book, April 2011
- 14/04/2011
- Monthly Bulletin, April 2011
- 14/04/2011
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Focus:
Sectoral developments in employment and hours worked in the euro area
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Focus:
Revisions to euro area GDP growth
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Focus:
Recent housing market developments in the euro area
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Focus:
Methodological changes in the compilation of the HICP and their impact on recent data
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Focus:
The use of trade credit by euro area non-financial corporations
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Focus:
Political tensions in the Middle East and North Africa: economic implications for the euro area
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Article:
The use of euro banknotes - results of two surveys among households and firms
Monthly Bulletin Issue 4, 2011
- 14/04/2011
-
Article:
Ensuring fiscal sustainability in the euro area
Monthly Bulletin Issue 4, 2011
- 13/04/2011
- Working paper no. 1327: Systemic risk diagnostics: coincident indicators and early warning signals
- 13/04/2011
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Working paper no. 1326:
Welfare costs of inflation and the circulation of US currency abroad
Published in: The B.E. Journal of Macroeconomics, Vol 11 (1), 2011: Article 12.
- 12/04/2011
-
Settlement fails - report on securities settlement systems (SSS) measures to ensure timely settlement
[online only]
- 08/04/2011
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Working paper no. 1325:
Wage structure effects of international trade: evidence from a small open economy
Published in: Review of World Economics, Vol 148 (2), June 2012: pp 297-331
- 08/04/2011
- Working paper no. 1324: Nowcasting inflation using high frequency data
- 08/04/2011
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Working paper no. 1323:
Structural reforms and macroeconomic performance in the euro area countries: a model-based assessment
Published in: International Finance, Vol 16 (1), Spring 2013: pp 23-44
- 08/04/2011
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Working paper no. 1322:
Business cycle synchronisation: disentangling trade and financial linkages
Published in: Open Economies Review, Vol 23 (4), 2012: pp 623-643
- 08/04/2011
- Working paper no. 1321: Macroeconomic implications of downward wage rigidities
- 08/04/2011
- Occasional paper no. 125: Household sector borrowing in the euro area - a micro data perspective
- 07/04/2011
- Working paper no. 1320: What lies beneath? A time-varying FAVAR model for the UK transmission mechanism
- 07/04/2011
- Working paper no. 1319: Fiscal developments and financial stress: a threshold VAR analysis
- 07/04/2011
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Working paper no. 1318:
Using the global dimension to identify shocks with sign restrictions
Published in: Staff Papers, Federal Reserve Bank of Dallas, issue Dec, as: "How the global perspective can help us identify structural shocks"
- 07/04/2011
- Working paper no. 1317: Financial imbalances and financial fragility
- 07/04/2011
- Working paper no. 1316: The ECB's New Multi-Country Model for the euro area: NMCM - with boundedly rational learning expectations
- 07/04/2011
- Working paper no. 1315: The ECB's New Multi-Country Model for the euro area: NMCM - simulated with rational expectations
- 01/04/2011
- Working paper no. 1314: Price and wage setting in Portugal: learning by asking
- 30/03/2011
-
Euro area monetary and financial statistics - 2010 quality report
[online only]
- 30/03/2011
-
Euro area balance of payments and international investment position statistics - 2010 quality report
[online only]
- 24/03/2011
- Working paper no. 1313: News and policy foresight in a macro-finance model of the US
- 24/03/2011
- Working paper no. 1312: A structural model of central bank operations and bank intermediation
- 24/03/2011
-
Working paper no. 1311:
Macro-financial vulnerabilities and future financial stress: assessing systemic risks and predicting systemic events
Published in: Journal of Banking & Finance, Vol 37 (7), July 2013: pp 2183-2195.
- 24/03/2011
- Working paper no. 1310: Is China climbing up the quality ladder? Estimating cross country differences in product quality using Eurostat's COMEXT trade database
- 18/03/2011
- Occasional paper no. 124: Who has been affected, how and why? The spillover of the global financial crisis to Sub-Saharan Africa and ways to recovery
- 15/03/2011
- Working paper no. 1309: Skills and wage inequality in Greece: evidence from matched employer-employee data, 1995-2002
- 11/03/2011
- Research Bulletin No. 12
- 10/03/2011
- Statistics Pocket Book, March 2011
- 10/03/2011
- Monthly Bulletin, March 2011
- 10/03/2011
-
Focus:
Government debt dynamics and primary budget balance developments in the EU Member States
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
ECB staff macroeconomic projections for the euro area
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Labour market mobility and transitions in labour market status in the euro area
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Recent developments in the euro area balance of payments
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Recent revisions to forecasts for activity growth
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Gauging the impact of indirect taxation on euro area HICP inflation
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Explaining the recent decoupling between growth in MFI loans for house purchase and consumer credit
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Liquidity conditions and monetary policy operations in the period from 10 November 2010 to 8 February 2011
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
Permanent and temporary factors in broad money growth
Monthly Bulletin Issue 3, 2011
- 10/03/2011
-
Focus:
The importance of the euro area as an export destination
Monthly Bulletin Issue 3, 2011
- 10/03/2011
- External evaluation of the Directorate General Research of the European Central Bank Press release:
- 10/03/2011
-
Article:
The reform of economic governance in the euro area - essential elements
Monthly Bulletin Issue 3, 2011
- 09/03/2011
- Working paper no. 1308: Myopic governments and welfare-enhancing debt limits
- 04/03/2011
-
Letter from the ECB President to Mr Andreas Mölzer, Member of the European Parliament, concerning questions on transfers to the European Central Bank
[online only]
- 03/03/2011
- Working paper no. 1307: The response of labour taxation to changes in government debt
- 03/03/2011
-
ECB staff macroeconomic projections for the euro area
ENGLISHOTHER LANGUAGES (20) +
[online only]
- 01/03/2011
- Working paper no. 1306: Why are some prices stickier than others? Firm-data evidence on price adjustment lags
- 01/03/2011
- Working paper no. 1305: Choosing between time and state dependence: micro evidence on firms' price-reviewing strategies
- 28/02/2011
- Working paper no. 1304: Subprime consumer credit demand: evidence from a lender's pricing experiment
- 28/02/2011
- Working paper no. 1303: Behavioural characteristics and financial distress
- 28/02/2011
- Working paper no. 1302: The immigrant/native wealth gap in Germany, Italy and Luxembourg
- 28/02/2011
- Working paper no. 1301: Wealth mobility and dynamics over entire individual working life cycles
- 28/02/2011
- Working paper no. 1300: Inheritances and the distribution of wealth or whatever happened to the great inheritance boom?
- 28/02/2011
- Working paper no. 1299: Who lost the most? Financial literacy, cognitive abilities, and the financial crisis
- 28/02/2011
- Working paper no. 1298: Check in the mail or more in the paycheck: does the effectiveness of fiscal stimulus depend on how it is delivered?
- 28/02/2011
- Working paper no. 1297: Consumption and initial mortgage conditions: evidence from survey data
- 28/02/2011
- Working paper no. 1296: Financial advice and stock market participation
- 28/02/2011
- Working paper no. 1295: Which households use banks? Evidence from the transition economies
- 23/02/2011
- European Commission’s public consultation on the review of the MiFID– Eurosystem contribution
- 23/02/2011
- European Commission’s public consultation on credit rating agencies – Eurosystem reply
- 21/02/2011
-
Recent developments in securitisation
[online only]
- 17/02/2011
- Letter from the ECB President to Mr Nuno Melo, Member of the European Parliament, regarding questions on the international monetary system
- 16/02/2011
-
Working paper no. 1294:
The normalized CES production function: theory and empirics
Published in: Journal of Economic Surveys, Vol 26 (5), 2012: pp 769-799
- 14/02/2011
-
Contribution of the Eurosystem to the public consultation of the European Commission on the communication "Towards a Single Market Act"
[online only]
European Commission, Single Market Act (on ec.europa.eu) - 10/02/2011
- Statistics Pocket Book, February 2011
- 10/02/2011
- Monthly Bulletin, February 2011
- 10/02/2011
- Working paper no. 1293: Financing obstacles among euro area firms: Who suffers the most?
- 10/02/2011
-
Focus:
Investment outlook in the euro area: an assessment based on survey and capacity utilisation data
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
The current euro area recovery across expenditure components from a historical perspective
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
Results of the ECB survey of professional forecasters for the first quarter of 2011
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
Recent and prospective movements in HICP inflation: the role of base effects
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
Integrated euro area accounts for the third quarter of 2010
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
Developments in the international investment position of the euro area in 2008 and 2009
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
The results of the January 2011 bank lending survey for the euro area
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Focus:
The Estonian MFI sector and its impact on monetary statistics for the euro area
Monthly Bulletin Issue 2, 2011
- 10/02/2011
- Letter from the ECB President to Mr Sven Giegold, Member of the European Parliament, regarding questions on the position of the European Central Bank regarding the Balz report in the European Parliament on the ECB’s Annual Report 2009
- 10/02/2011
-
Article:
The information content of option prices during the financial crisis
Monthly Bulletin Issue 2, 2011
- 10/02/2011
-
Article:
Inflation expectations in the euro area: a review of recent developments
Monthly Bulletin Issue 2, 2011
- 09/02/2011
-
Working paper no. 1292:
Does the euro make a difference? Spatio-temporal transmission of global shocks to real effective exchange rates in an infinite VAR
Published in: B.E. Journal of Macroeconomics, Vol 13(1), 2013: pp 1-48 as "How have global shocks impacted the real effective exchange rates of individual euro area countries since the euro's creation?"
- 09/02/2011
- Working paper no. 1291: Liquidity requirements and payment delays - participant type dependent preferences
- 09/02/2011
- Occasional paper no. 123: The international monetary system after the financial crisis
- 04/02/2011
-
The implementation of monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures
[online only]
Press release: - 02/02/2011
- Central bank statistics: what did the financial crisis change? Fifth ECB Conference on Statistics on 19 and 20 October 2010 Press release:
- 21/01/2011
-
Letter from the ECB President to Mr Sven Giegold, Member of the European Parliament, regarding questions on the public debt of Member States of the European Union
[online only]
- 20/01/2011
- Statistics Pocket Book, January 2011
- 20/01/2011
- Monthly Bulletin, January 2011
- 20/01/2011
-
Focus:
The forecasting performance of expert surveys
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Focus:
Determinants of inflation differentials in the euro area
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Focus:
Revisiting the impact of asset transfers to “bad banks” on MFI credit to the euro area private sector
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Focus:
Estonia adopts the euro
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Focus:
Recent developments in food commodity prices
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Article:
The financial crisis and the strengthening of global policy cooperation
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Article:
Trends in potential output
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Article:
Recent developments in loans to the private sector
Monthly Bulletin Issue 1, 2011
- 20/01/2011
-
Correspondent central banking model (CCBM) - Procedure for Eurosystem counterparties
ENGLISHOTHER LANGUAGES (14) +
- 19/01/2011
-
Letter from the ECB President to Mr Nikolaos Chountis, Member of the European Parliament, regarding questions relating to a repayment extension for loans to Greece
[online only]
- 19/01/2011
-
Letter from the ECB President to Mr Diogo Feio, Member of the European Parliament, regarding questions on the visit of a European Central Bank official to Portugal
[online only]
- 17/01/2011
-
Price stability: why is it important for you? (2011 update)
ENGLISHOTHER LANGUAGES (21) +
[online only]
- 17/01/2011
-
Information brochure: The European Central Bank, the Eurosystem, the European System of Central Banks (2011 update)
ENGLISHOTHER LANGUAGES (21) +
[online only]
- 17/01/2011
-
Eurosystem reply to consultation on countercyclical capital buffer
[online only]
- 17/01/2011
-
Letter from the ECB President to Mr Nick Griffin, Member of the European Parliament, regarding questions on the printing of former currencies by euro area countries
[online only]
- 14/01/2011
-
Working paper no. 1290:
Non-standard monetary policy measures and monetary developments
Published in: Interest Rates, Prices and Liquidity - Lessons from the Financial Crisis, Jagjit S. Chadha, Sean Holly (eds.), Cambridge University Press, 2011: pp 195-221.
- 14/01/2011
- Occasional paper no. 122: The impact of the Eurosystem's covered bond purchase programme on the primary and secondary markets
- 14/01/2011
-
Letter from the ECB President to Mr Nuno Melo, Member of the European Parliament, regarding a question on the assumption by the Portuguese state of the financial liabilities of Banco Português de Negócios
[online only]
- 12/01/2011
-
Working paper no. 1289:
Bayesian prior elicitation in DSGE models: macro- vs micro-priors
Published in: Journal of Economic Dynamics and Control, Vol 36, 2012: pp 294-313
- 11/01/2011
-
Working paper no. 1288:
Getting beyond carry trade: what makes a safe haven currency?
Published in: Journal of International Economics, Vol 87 (1), May 2012: pp 50–64
- 11/01/2011
- Working paper no. 1287: Are universal banks better underwriters? Evidence from the last days of the Glass-Steagall Act
- 10/01/2011
- Working paper no. 1286: Corporate bond spreads and real activity in the euro area - Least Angle Regression forecasting and the probability of the recession
- 10/01/2011
-
Working paper no. 1285:
Identifying the global transmission of the 2007-09 financial crisis in a GVAR Model
Published in: European Economic Review, Vol 55 (3), April 2011, pp 325-339.
- 05/01/2011
- Working paper no. 1284: Euro area labour markets: different reaction to shocks?