ECB - European Central Bank

Monetary policy, agent heterogeneity and inequality: insights from a three-agent New Keynesian model

3 days ago

In this paper I develop a New Keynesian dynamic stochastic general equilibrium...

Bank balance sheet constraints and bond liquidity

3 days ago

We explore the ties between bonds and individual dealers formed through home...

The impact of supply bottlenecks on trade

3 days ago

This box documents recent transport and input-related bottlenecks in global trade and...

Economic Bulletin, Issue 6 2021

3 days ago

EU emissions allowance prices in the context of the ECB’s climate change action plan

3 days ago

In its climate change action plan, the ECB committed to accelerating the...

Eurosystem contribution to the EU Commission targeted consultation on the functioning of the securitisation framework

4 days ago

Demand for central bank reserves and monetary policy implementation frameworks: the case of the Eurosystem

4 days ago

This paper discusses commercial banks’ demand for central bank reserves under two...

ECB’s economy-wide climate stress test

4 days ago

Climate change is one of the greatest challenges facing humankind this century...

Non-financial corporate health during the pandemic

4 days ago

This box assesses the health of the euro area non-financial corporate sector...

Evolution of the ECB’s analytical framework

5 days ago

This paper discusses the role of economic and monetary analysis in the...

The need for an inflation buffer in the ECB’s price stability objective – the role of nominal rigidities and inflation differentials

5 days ago

The existence of nominal rigidities and inflation differentials between countries offers two...

Assessing the efficacy, efficiency and potential side effects of the ECB’s monetary policy instruments since 2014

5 days ago

This paper summarises the work done by Eurosystem staff in the context...