ECB - European Central Bank

Fiscal policy transmission through production networks with heterogeneous households

3 days ago

We study how sector-specific fiscal policy propagates in an economy with heterogeneous...

Herding in the foreign exchange market

3 days ago

Using a recent and comprehensive data set covering nine of the most...

Investment composition and growth: the role of intangible and tangible ICT capital in the EU and other economies

4 days ago

This paper examines whether differences in the composition of investment help explain...

The international role of the euro. June 2026

4 days ago

The rise of China in academic research

5 days ago

Analyzing more than 300,000 articles across 40 top-tier journals between 2000 and...

Letter from the ECB President to Mr Fabio de Masi, MEP, on institutional matters

7 days ago

Firm level heterogeneity and the impact of monetary policy on labour demand

9 days ago

Monetary policy asymmetrically affects the response of firms’ employment to an output...

Stockholding in Europe: Evidence from the Consumer Expectations Survey

10 days ago

We examine recent changes in stock market participation using newly available survey...

Identifying relationship-level effects using covariance restrictions

10 days ago

We propose a new model in which relationship-specific effects or shocks are...

Financial Stability Review, May 2026

10 days ago

From dictionaries to AI: a new era in sentiment analysis for financial stability

10 days ago

Financial stability communication is challenging because its task is not to forecast...

House price booms and policy choices: insights from a meta-regression analysis

10 days ago

This special feature examines policy-assignment dilemmas facing macroprudential authorities when housing markets...