ECB - European Central Bank

Survey on the Access to Finance of Enterprises in the euro area - Third quarter of 2025

about 20 hours ago

Fiscal announcements and households’ beliefs: evidence from the euro area

8 days ago

This paper studies the effects of fiscal policy announcements on household expectations...

Letter from the ECB President to Mr Engin Eroglu, MEP, on the digital euro

11 days ago

Decomposing US economic fluctuations: a trend-cycle approach

14 days ago

This paper proposes a unified framework to study the permanent and transitory...

Inflation and monetary policy in medium-sized New Keynesian DSGE models

15 days ago

This chapter of the Research Handbook of Inflation (2025) reviews the evolution...

Letter from Piero Cipollone to Aurore Lalucq, ECON Chair, on technical data on financial stability impact of digital euro and assessment of bank investments costs

18 days ago

Fiscal drag in theory and in practice: a European perspective

19 days ago

This paper presents a comprehensive characterization of “fiscal drag”—the increase in tax...

Capital requirements: a pillar or a burden for bank competitiveness?

19 days ago

This paper examines the relationship between capital requirements, capital ratios and bank...

Decoding climate-related risks in sovereign bond pricing: a global perspective

20 days ago

Climate change poses a significant risk to financial stability by impacting sovereign...

A comparative review of worldwide on-site banking supervision trends through the lens of IMF/World Bank FSAP

20 days ago

The IMF working paper, “Good Supervision: lessons from the field,” examines the...

The slope of the euro area price Phillips curve: evidence from regional data

21 days ago

This paper contributes to the literature on the price Phillips curve by...

A study on the interaction of capital, liquidity and bank stability

21 days ago

The purpose of this paper is to empirically examine the effects of...