ECB - European Central Bank

When firms do not take the money and run: evidence from corporate loan moratoria

about 24 hours ago

Suspending loan repayments is a widely used policy tool to provide liquidity...

Endogenous monetary policy effectiveness

2 days ago

How does the effectiveness of monetary policy vary over the policy cycle...

DeFi-ying the Fed? Monetary policy transmission to stablecoin deposit rates

3 days ago

Does the Federal Reserve’s monetary policy influence the rates on USD-pegged stablecoins...

Fiscal policy and sectoral spillovers in open-economy HANK

3 days ago

Government spending falls disproportionately on non-tradable services. We show empirically that government...

ECB staff macroeconomic projections for the euro area, September 2026

7 days ago

Environmental policy uncertainty and cleantech FDI

17 days ago

This paper examines whether environmental policy uncertainty undermines clean-technology investment in the...

When the Crowd Speaks: AI-based retail investor sentiment indicator with Reddit data

24 days ago

Retail investors increasingly discuss markets in real time on social media, yet...

Learning probability of default and stress testing

24 days ago

We analyze the Probability of Default (PD) of non-financial corporations in Europe...

Hidden in the aggregate: the cyclicality of EU labour force participation

28 days ago

We estimate the cyclical response of labour force participation to growth shocks...

Banks’ funding structures and pass-through in the euro area

28 days ago

This paper investigates the interest rate pass-through of monetary policy in the...

Domestic and cyclical inflation in the euro area

28 days ago

The ECB’s inflation target is formulated in terms of headline inflation. However...

Consumer attitudes towards a central bank digital currency

about 1 month ago

We field a series of experiments in a survey of European consumers...