EU - Central bank research hub

Optimal monetary policy with imperfect common knowledge

by Klaus Adam

European Central Bank Working Papers (Paper: 0223, 23.06.2003)

JEL: D82, E31, E52
Estimating risk premia in money market rates

by Alain Durré

European Central Bank Working Papers (Paper: 0221, 23.06.2003)

JEL: C32, E43
Swiss monetary policy targeting 1974-1996: the role of internal policy analysis

by Georg Rich

European Central Bank Working Papers (Paper: 0236, 23.06.2003)

JEL: E31, E32, E41, E52, E58
Unemployment

by Miguel León-Ledesma and Peter McAdam

European Central Bank Working Papers (Paper: 0234, 23.06.2003)

JEL: C22, C23, E24
Describing the Fed's conduct with Taylor rules: is interest rate smoothing important?

by Efrem Castelnuovo

European Central Bank Working Papers (Paper: 0232, 23.06.2003)

JEL: E4, E5
The euro area financial system: structure

by Philipp Hartmann

European Central Bank Working Papers (Paper: 0230, 23.06.2003)

JEL: F36, G00
Monetary policy shocks - a nonfundamental look at the data

by Matt Klaeffing

European Central Bank Working Papers (Paper: 0228, 23.06.2003)

JEL: C12, E52
The central bank as a risk manager: quantifying and forecasting inflation risks

by Lutz Kilian and Simone Manganelli

European Central Bank Working Papers (Paper: 0226, 23.06.2003)

JEL: C22, E31, E37, E52, E58
Inflation dynamics and subjective expectations in the United States

by Mario Padula and Klaus Adam

European Central Bank Working Papers (Paper: 0222, 23.06.2003)

JEL: E31
Real exchange rate in an inter-temporal n-country-model with incomplete markets

by Benoît Mercereau

European Central Bank Working Papers (Paper: 0205, 02.04.2003)

JEL: F30, F31, F32, F41
The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan

by Volker Wieland and Günter Coenen

European Central Bank Working Papers (Paper: 0218, 02.04.2003)

JEL: E31, E52, E58, E61
Myopic loss aversion

by Livio Stracca and David Fielding

European Central Bank Working Papers (Paper: 0203, 02.04.2003)

The admission of accession countries to an enlarged monetary union: a tentative assessment

by Roberto De Santis and Michele Ca' Zorzi

European Central Bank Working Papers (Paper: 0216, 02.04.2003)

JEL: E52, E58, F33, F40
On the selection of forecasting models

by Lutz Kilian and Atsushi Inoue

European Central Bank Working Papers (Paper: 0214, 02.04.2003)

Modelling the implied probability of stock market movements

by Ernst Glatzer and Martin Scheicher

European Central Bank Working Papers (Paper: 0212, 02.04.2003)

JEL: C22, C51, G13, G15
Anticipated Ramsey reforms and the uniform taxation principle: the role of international financial markets

by Stephanie Schmitt-Grohé and Martín Uribe

European Central Bank Working Papers (Paper: 0210, 02.04.2003)

JEL: E52, E61, E63, F41
Do demographic changes affect risk premiums? Evidence from international data

by Angela Maddaloni and Andrew Ang

European Central Bank Working Papers (Paper: 0208, 02.04.2003)

Empirical estimates of reaction functions for the euro area

by Dieter Gerdesmeier and Barbara Roffia

European Central Bank Working Papers (Paper: 0206, 02.04.2003)

Asymmetric dynamics in the correlations of global equity and bond returns

by Lorenzo Cappiello

European Central Bank Working Papers (Paper: 0204, 02.04.2003)

JEL: C5, F3, G1
Extra-euro area manufacturing import prices and exchange rate pass-through

by Bob Anderton

European Central Bank Working Papers (Paper: 0219, 02.04.2003)

JEL: D40, E30, F10, F31
The role of product market regulations in the process of structural change

by Julián Messina

European Central Bank Working Papers (Paper: 0217, 02.04.2003)

JEL: L5, O11, O41
Aggregate loans to the euro area private sector

by Alessandro Calza

European Central Bank Working Papers (Paper: 0202, 02.04.2003)

JEL: C32, C51
Budget institutions and fiscal performance in Central and Eastern European countries

by Holger Gleich

European Central Bank Working Papers (Paper: 0215, 02.04.2003)

JEL: D70, E60, H61, P20, P30
Aggregation and euro area Phillips curves

by Julian Morgan and Silvia Fabiani

European Central Bank Working Papers (Paper: 0213, 02.04.2003)

JEL: C52, C53, E24, J30
Self-control and savings

by Jean-Pierre Vidal and Philippe Michel

European Central Bank Working Papers (Paper: 0211, 02.04.2003)

A framework for collateral risk control determination

by Didier Cossin

European Central Bank Working Papers (Paper: 0209, 02.04.2003)

JEL: E50, E58, G10, G21
A comprehensive model on the euro overnight rate

by Flemming Reinhardt Würtz

European Central Bank Working Papers (Paper: 0207, 02.04.2003)

JEL: C32, E43, E52
Competition and stability: what's special about banking?

by Philipp Hartmann and Elena Carletti

European Central Bank Working Papers (Paper: 0146, 02.04.2003)

JEL: G21, G28, G34, K21, L4
Rent indices for housing in West Germany 1985 to 1998

by Claudia Kurz and J. Hoffmann

European Central Bank Working Papers (Paper: 0116, 02.04.2003)

Macroeconomics of international price discrimination

by Luca Dedola and Giancarlo Corsetti

European Central Bank Working Papers (Paper: 0176, 02.04.2003)

Optimal public money

by Cyril Monnet

European Central Bank Working Papers (Paper: 0159, 02.04.2003)

Non-standard central bank loss functions

by Livio Stracca and Ali al-Nowaihi

European Central Bank Working Papers (Paper: 0129, 02.04.2003)

Debt reduction and automatic stabilisation

by Paul Hiebert

European Central Bank Working Papers (Paper: 0189, 02.04.2003)

JEL: E63, H31, H63
International monetary policy coordination and financial market integration

by Alan Sutherland

European Central Bank Working Papers (Paper: 0174, 02.04.2003)

JEL: E52, E58, F42
A failure in the measurement of inflation: results from a hedonic and matched experiment using scanner data

by Mick Silver and Saeed Heravi

European Central Bank Working Papers (Paper: 0144, 02.04.2003)

JEL: C43, E43, O47
Financial frictions and the monetary transmission mechanism: theory

by Charles Bean , Jens Larsen and Kalin Nikolov

European Central Bank Working Papers (Paper: 0113, 02.04.2003)

A fiscal theory of sovereign risk

by Martín Uribe

European Central Bank Working Papers (Paper: 0187, 02.04.2003)

JEL: E6, F4
Bidding and performance in repo auctions: evidence from ECB open market operations

by Kjell G. Nyborg

European Central Bank Working Papers (Paper: 0157, 02.04.2003)

Performance of monetary policy with internal central bank forecasting

by Kaushik Mitra and Seppo Honkapohja

European Central Bank Working Papers (Paper: 0127, 02.04.2003)

Constructing quality-adjusted price indices: a comparison of hedonic and discrete choice models

by Nicole Jonker

European Central Bank Working Papers (Paper: 0172, 02.04.2003)

JEL: C25, C43, D11, D21
Modelling the daily banknotes in circulation in the context of the liquidity management of the European Central Bank

by Alberto Cabrero

European Central Bank Working Papers (Paper: 0142, 02.04.2003)

JEL: C22, C51, C53, C59
European integration: what lessons for other regions? The case of Latin America

by Ettore Dorrucci

European Central Bank Working Papers (Paper: 0185, 02.04.2003)

JEL: E42, F15, F33, F41
Youth unemployment in the OECD: demographic shifts

by Diego Rodriguez-Palenzuela and Juan F. Jimeno

European Central Bank Working Papers (Paper: 0155, 02.04.2003)

Duration

by Simone Manganelli

European Central Bank Working Papers (Paper: 0125, 02.04.2003)

JEL: C32, G14
Euro area inflation persistence

by Nicoletta Batini

European Central Bank Working Papers (Paper: 0201, 02.04.2003)

JEL: E4, E5
What measure of inflation should a central bank target?

by Gregory Mankiw and Ricardo Reis

European Central Bank Working Papers (Paper: 0170, 02.04.2003)

JEL: E42, E52, E58
Price setting and the steady-state effects of inflation

by Miguel Casares

European Central Bank Working Papers (Paper: 0140, 02.04.2003)

JEL: E13, E31, E50
Monetary policy in a world with different financial systems

by Ester Faia

European Central Bank Working Papers (Paper: 0183, 02.04.2003)

JEL: E3, E42, E44, E52
Euro area production function and potential output: a supply side system approach

by Alpo Willman

European Central Bank Working Papers (Paper: 0153, 02.04.2003)

JEL: E23, E25
Time variation in the tail behaviour of bunds futures returns

by Thomas Werner and Christian Upper

European Central Bank Working Papers (Paper: 0199, 02.04.2003)

JEL: C14, G13