ECB - European Central Bank

Fiscal policy transmission through production networks with heterogeneous households

6 days ago

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

Herding in the foreign exchange market

6 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

7 days ago

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

The international role of the euro. June 2026

7 days ago

The rise of China in academic research

8 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

10 days ago

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

12 days ago

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

Stockholding in Europe: Evidence from the Consumer Expectations Survey

13 days ago

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

Identifying relationship-level effects using covariance restrictions

13 days ago

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

Financial Stability Review, May 2026

13 days ago

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

13 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

13 days ago

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