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ECB - Working paper series

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Latest posts

Last updated 2 days ago

Green asset pricing

2 days ago

This paper demonstrates that empirically grounding the discount factor significantly influences the...

Real effects of credit supply shocks: evidence from Danish banks, firms, and workers

8 days ago

Contractions in credit supply can lead firms to reduce their level of...

Banks and non-banks stressed: liquidity shocks and the mitigating role of insurance companies

8 days ago

This paper documents the extension of the system-wide stress testing framework of...

For whom the bill tolls: redistributive consequences of a monetary-fiscal stimulus

14 days ago

During the COVID-19 pandemic, governments in the euro area sharply increased spending...

Financial returns, sentiment and market volatility. A dynamic assessment.

14 days ago

In 1936, John Maynard Keynes proposed that emotions and instincts are pivotal...

Time-varying agglomeration economies and aggregate wage growth

15 days ago

We examine how agglomeration economies have influenced labour earnings in France over...

Fiscal policy and inflation: accounting for non-linearities in government debt

15 days ago

This paper investigates the interplay between discretionary fiscal policy and inflation in...

Asymmetric monetary policy spillovers: the role of supply chains, credit networks and fear of floating

24 days ago

This paper examines the asymmetry in global spillovers from Fed policy across...

A statistical approach to identifying ECB monetary policy

about 1 month ago

We construct monetary policy indicators from high-frequency asset price changes following policy...

Government-guaranteed credit and populism

about 1 month ago

The phenomenon of political populism and its financial determinants have proved elusive...

Variational inference for Bayesian panel VAR models

about 1 month ago

We study the application of approximate mean field variational inference algorithms to...

Inputs in distress: geoeconomic fragmentation and firms’ sourcing

about 1 month ago

We study how disruptions to the supply of foreign critical inputs (FCIs)...