ECB - European Central Bank

Can satellites predict oil demand?

2 days ago

We investigate whether satellite observations of nitrogen dioxide (NO₂) – a short-lived...

The great redistribution that wasn’t: a HANK-OLG perspective on monetary policy

2 days ago

We study the distributional consequences of the recent inflationary surge and the...

Annual Accounts 2025

3 days ago

Consolidated balance sheet of the Eurosystem as at 31 December 2025

3 days ago

Bond funds’ risk taking and monetary policy

3 days ago

Using granular security-level data from bond funds domiciled in the US and...

Stabilizing credit when nonperforming loans surge: the role of asset management companies

4 days ago

When default losses elevate borrowing costs, expanding credit cannot stabilize the economy...

Homeowners insurance and the transmission of monetary policy

4 days ago

We document a novel transmission channel of monetary policy through the homeowners...

Macroeconomic effects of carbon-intensive energy price changes: a model comparison

5 days ago

This paper presents a novel model comparison to examine the challenges posed...

Looser, tighter, clearer: a new Financial Conditions Index for the euro area

5 days ago

Financial Conditions Indices (FCIs) are a widely used tool for assessing the...

How do macroprudential measures affect mortgage lending standards? Evidence from the ECB’s Bank Lending Survey

6 days ago

Using information from the ECB’s Bank Lending Survey, we examine how the...

A least-squares filter for sequence-space models

6 days ago

Sequence-space models are becoming increasingly popular in macroeconomics, especially in the heterogeneous-agent...

Letter from the ECB President to Mr Fabio de Masi and Mr Dick Erixon, MEPs, on institutional matters

9 days ago