ECB - European Central Bank

The path to the reformed EU fiscal framework: a monetary policy perspective

about 1 year ago

This paper reviews the main arguments underpinning the reform of the EU’s...

TARGET2-Securities Annual Report 2023

about 1 year ago

The globalization of climate change: amplification of climate-related physical risks through input-output linkages

about 1 year ago

While global supply chains have recently gained attention in the context of...

Private markets, public risk? Financial stability implications of alternative funding sources

about 1 year ago

Euro area private markets have grown significantly in recent years, providing alternative...

Financial Stability Review, May 2024

about 1 year ago

Stress testing with multiple scenarios: a tale on tails and reverse stress scenarios

about 1 year ago

This paper proposes an operational approach to stress testing, allowing one to...

The rise of artificial intelligence: benefits and risks for financial stability

about 1 year ago

The emergence of generative artificial intelligence (AI) tools represents a significant technological...

Advancements in stress-testing methodologies for financial stability applications

about 1 year ago

This paper provides an overview of stress-testing methodologies in Europe, with a...

Household inflation expectations: an overview of recent insights for monetary policy

about 1 year ago

This paper discusses the recent wave of research that has emphasized the...

Turbulent times: geopolitical risk and its impact on euro area financial stability

about 1 year ago

Geopolitical risk can be a threat to financial stability and the global...

The quantity theory of money, 1870-2020

about 1 year ago

This study re-assesses the validity of the quantity theory of money (QTM)...

The macroeconomics of liquidity in financial intermediation

about 1 year ago

In financial crises, the premium on liquid assets such as US Treasuries...