Central Bank Research Hub - Series: European Central Bank Working papers 2009

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Title	Author(s)
What explains the surge in euro area sovereign spreads during the financial crisis of 2007-09?, Paper: 1131, 18.12.2009	Maria-Grazia Attinasi Christiane Nickel Cristina Checherita
EMU and the adjustment to asymmetric shocks: the case of Italy, Paper: 1128, 18.12.2009	Livio Stracca Nicola Giammarioli Gianni Amisano
Monetary policy and potential output uncertainty: a quantitative assessment, Paper: 1130, 18.12.2009	Simona Delle Chiaie
Would the Bundesbank Have Prevented the Great Inflation in the United States?, Paper: 1134, 11.12.2009 JEL: E32, E47, E52, E58	Luca Benati
A quarterly fiscal database for the euro area based on intra-annual fiscal information, Paper: 1132, 11.12.2009 JEL: C53, E6, H6	Diego J. Pedregal Joan Paredes Javier J. Pérez
Fiscal policy shocks in the euro area and the US: an empirical assessment, Paper: 1133, 11.12.2009 JEL: E62, H30	Joan Paredes Daniel Garrote Esther Gordo Francisco de Castro Fernández Javier J. Pérez Pablo Burriel-Llombart
Liquidity Hoarding and Interbank Market Spreads: The Role of Counterparty Risk, Paper: 1126, 11.12.2009 JEL: D82, G01, G21	Marie Hoerova Florian Heider Cornelia Holthausen
The Janus-Headed Salvation: Sovereign and Bank Credit Risk Premia during 2008-09, Paper: 1127, 11.12.2009 JEL: G15, G21	Wolfgang Lemke Jacob W. Ejsing
Leading indicators in a globalised world, Paper: 1125, 09.12.2009 JEL: C53, E32, E37, F47	Rasmus Rüffer Bernd Schnatz Ferdinand Fichtner
Monetary Policy Shocks and Portfolio Choice, Paper: 1122, 09.12.2009 JEL: E52, F32, F4, G1	Christian Saborowski Roland Straub Marcel Fratzscher
Exchange Rate Pass-through in Central and Eastern European Member States, Paper: 1120, 08.12.2009 JEL: E31, F31	Martin Bijsterbosch John Beirne
Monetary Policy and the Financing of Firms, Paper: 1123, 08.12.2009 JEL: E20, E44, E52	Oreste Tristani Pedro Teles Fiorella De Fiore
Balance Sheet Interlinkages and Macro-Financial Risk Analysis in the Euro Area, Paper: 1124, 07.12.2009	Olli Castrén Ilja Kristian Kavonius
Does Finance Bolster Superstar Companies? Banks, Venture Capital, and Firm Size in Local U.S. Markets, Paper: 1121, 04.12.2009 JEL: G24, J24, L11	Alexander Popov
Nonparametric Hybrid Phillips Curves Based on Subjective Expectations: Estimates for the Euro Area, Paper: 1119, 02.12.2009	Marco Buchmann
Explaining government revenue windfalls and shortfalls: an analysis for selected EU countries, Paper: 1114, 02.12.2009	Christophe Schalck Suzanne Linehan Steven Jonk Jana Kremer Maria Rosaria Marino Olegs Tkacevs Richard Morris Francisco de Castro Fernández
Discretionary Fiscal Policies over the Cycle: New Evidence based on the ESCB Disaggregated Approach Paper: 1118, 25.11.2009	Jacopo Cimadomo Luca Agnello
Putting the New Keynesian DSGE model to the real-time forecasting test Paper: 1110, 25.11.2009	Pawel Skrzypczynski Marcin Kolasa Michal Rubaszek
The role of financial variables in predicting economic activity Paper: 1108, 24.11.2009	Marco J. Lombardi Raphael Espinoza Fabio Fornari
What Drives Personal Consumption? The Role of Housing and Financial Wealth Paper: 1117, 17.11.2009	Jirí Slacálek
Risk spillover among hedge funds: The role of redemptions and fund failures Paper: 1112, 17.11.2009	Bronka Rzepkowski Benjamin Klaus
Estimation and forecasting in large datasets with conditionally heteroskedastic dynamic common factors Paper: 1115, 17.11.2009	Lucia Alessi Marco Capasso Matteo Barigozzi
Volatility spillovers and contagion from mature to emerging stock markets Paper: 1113, 13.11.2009	Nicola Spagnolo John Beirne Guglielmo Maria Caporale Marianne Schulze-Ghattas
A Stable Model for Euro Area Money Demand: Revisiting the Role of Wealth Paper: 1111, 12.11.2009	Andreas Beyer
The Margins of Labour Cost Adjustment: Survey Evidence from European Firms Paper: 1106, 12.11.2009	Theodora Theodora Philip Du Caju Tairi Rõõm Julián Messina Jan Babecký Martina Lawless
Downward Nominal and Real Wage Rigidity: Survey Evidence from European Firms Paper: 1105, 12.11.2009	Philip Du Caju Theodora Kosma Tairi Rõõm Julián Messina Jan Babecký Martina Lawless
What Triggers Prolonged Inflation Regimes? A Historical Analysis Paper: 1109, 11.11.2009	Isabel Vansteenkiste
Sectorial Border Effects in the European Single Market: an Explanation through Industrial Concentration Paper: 1116, 11.11.2009	Gianluca Cafiso
Interbank lending, credit risk premia and collateral Paper: 1107, 11.11.2009	Marie Hoerova Florian Heider
Pass-through of external shocks along the pricing chain: A panel estimation approach for the euro area Paper: 1104, 11.11.2009	Bettina Landau Frauke Skudelny
Wage-setting behavior in France: additional evidence from an ad-hoc survey Paper: 1102, 30.10.2009 JEL: D4, E3, L11	Jacques-Bernard Sauner-Leroy Jérémi Montornès
Fiscal variables and bond spreads: evidence from Eastern European countries and Turkey Paper: 1101, 28.10.2009 JEL: C33, E43, E62, H62	Philipp Rother Jan C. Rülke Christiane Nickel
Inter-industry Wage Differentials: How Much Does Rent Sharing Matter? Paper: 1103, 21.10.2009	François Rycx Philip Du Caju Ilan Tojerow
Gauging the effectiveness of quantitative forward guidance: evidence from three inflation targeters Paper: 1098, 19.10.2009 JEL: E40, E43, E52	Magnus Andersson Boris Hofmann
The determinants of bank capital structure Paper: 1096, 19.10.2009 JEL: G21, G32	Reint Gropp Florian Heider
Weak and strong cross section dependence and estimation of large panels Paper: 1100, 16.10.2009 JEL: C10, C31, C33	Alexander Chudik Elisa Tosetti M. Hashem Pesaran
Monetary and fiscal policy aspects of indirect tax changes in a monetary union Paper: 1097, 14.10.2009 JEL: E61, E63, F42	Anna Lipinska Leopold von Thadden
Public and private sector wages interactions in a general equilibrium model Paper: 1099, 14.10.2009 JEL: C32, E62, E63, H50, J30, J51, J52	Javier J. Pérez José L. Torres Gonzalo Fernández-de-Córdoba
Money talks Paper: 1091, 13.10.2009 JEL: D80, E40, E52	Marie Hoerova Cyril Monnet Ted Temzelides
The effects of monetary policy on unemployment dynamics under model uncertainty: evidence from the US and the euro area Paper: 1089, 05.10.2009 JEL: C11, E24, E52, E58	Matteo Ciccarelli Carlo Altavilla
Determinants of government bond spreads in new EU countries Paper: 1093, 05.10.2009 JEL: E62, G12, H60	Ioana Alexopoulou Annalisa Ferrando Irina Bunda
New Keynesian versus old Keynesian government spending multipliers Paper: 1090, 05.10.2009 JEL: C52, E62	Volker Wieland Tobias Cwik John F. Cogan John B. Taylor
Inflation perceptions and expectations in the euro area: the role of news Paper: 1088, 05.10.2009 JEL: D12, D84, E31	Marco Buchmann Cristian Badarinza
Modelling global trade flows: results from a GVAR model Paper: 1087, 05.10.2009 JEL: C33, F10, F17, F32	Alexander Chudik Matthieu Bussière Giulia Sestieri
Euro area money demand: empirical evidence on the role of equity and labour markets Paper: 1086, 05.10.2009 JEL: C32, E41, G11	Gabe de Bondt
EMU and European government bond market integration Paper: 1079, 05.10.2009 JEL: E44, F36, G15	Marta Gómez-Puig Helena Chuliá Pilar Abad
Disagreement among forecasters in G7 countries Paper: 1082, 05.10.2009 JEL: C53, E31, E32, E37, E52	Jonas Dovern Ulrich Fritsche Jirí Slacálek
How are firms’ wages and prices linked: survey evidence in Europe Paper: 1084, 05.10.2009 JEL: D21, E30, J31	Fernando Martins Ana Lamo Gabor Kezdi Martine Druant Roberto Sabbatini Silvia Fabiani
Liquidity premia in German government bonds Paper: 1081, 05.10.2009 JEL: E43, G12, H63	Jacob Ejsing Jukka Sihvonen
Productivity and job flows: heterogeneity of new hires and continuing jobs in the business cycle Paper: 1080, 05.10.2009 JEL: E24, E32, J64	Juuso Vanhala Juha Kilponen

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