ECB - European Central Bank

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

about 22 hours ago

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

Homeowners insurance and the transmission of monetary policy

about 22 hours ago

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

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

2 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

2 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

3 days ago

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

A least-squares filter for sequence-space models

3 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

6 days ago

Consumption and saving amid uncertainty: recent insights from the CES

7 days ago

This box examines how economic uncertainty influences the consumption and saving behaviour...

Estimating the time-varying reserve elasticity of money market rates in the euro area

7 days ago

This box presents a new approach to estimating the time-varying elasticity of...

Economic Bulletin Issue 1, 2026

7 days ago

Global trade redirection: tracking the role of trade diversion from US tariffs in Chinese export developments

8 days ago

Global trade flows experienced significant shifts in 2025 following new US tariffs...

The fundamental drivers of recent developments in euro area housing investment

9 days ago

Euro area housing investment has declined steadily in recent years but appears...