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Content
2004
- 382 Longer-term effects of monetary growth on real and nominal variables, major industrial countries, 1880-2001
by Dewald, William G. & Haug, Alfred A.
- 381 Fiscal rules and sustainability of public finances in an endogenous growth model
by Giammarioli, Nicola & Annicchiarico, Barbara
- 380 Optimal monetary policy under discretion with a zero bound on nominal interest rates
by Adam, Klaus & Billi, Roberto M.
- 379 Do financial market variables show (symmetric) indicator properties relative to exchange rate returns?
by Castrén, Olli
- 378 Liquidity, information, and the overnight rate
by Cassola, Nuno & Ejerskov, Steen & Ewerhart, Christian & Valla, Natacha
- 377 Optimal monetary policy under commitment with a zero bound on nominal interest rates
by Adam, Klaus & Billi, Roberto M.
- 376 Raising rival's costs in the securities settlement industry
by Holthausen, Cornelia & Tapking, Jens
- 375 Guess what: it's the settlements!
by Monnet, Cyril & Koeppl, Thorsten Volker
- 374 To aggregate or not to aggregate? Euro area inflation forecasting
by Roma, Moreno & Skudelny, Frauke & Benalal, Nicholai & Diaz del Hoyo, Juan Luis & Landau, Bettina
- 373 Technology shocks and robust sign restrictions in a euro area SVAR
by Peersman, Gert & Straub, Roland
- 372 The operational target of monetary policy and the rise and fall of reserve position doctrine
by Bindseil, Ulrich
- 371 Inflation persistence: facts or artefacts?
by Robalo Marques, Carlos
- 370 Inflation persistence during periods of structural change: an assessment using Greek data
by Hondroyiannis, George & Lazaretou, Sophia
- 369 Sovereign risk premia in the European government bond market
by Schuknecht, Ludger & von Hagen, Jürgen & Bernoth, Kerstin
- 368 Capital quality improvement and the sources of growth in the euro area
by Sakellaris, Plutarchos & Vijselaar, Focco
- 367 Factor substitution and factor augmenting technical progress in the US: a normalized supply-side system approach
by Klump, Rainer & McAdam, Peter & Willman, Alpo
- 366 The informational content of over-the-counter currency options
by Christoffersen, Peter & Mazzotta, Stefano
- 365 Exchange rates and fundamentals: new evidence from real-time data
by Ehrmann, Michael & Fratzscher, Marcel
- 364 Asset price booms and monetary policy
by Detken, Carsten & Smets, Frank
- 363 Communication and exchange rate policy
by Fratzscher, Marcel
- 362 Oil price shocks and real GDP growth: empirical evidence for some OECD countries
by Jiménez-Rodríguez, Rebeca & Sánchez, Marcelo
- 361 Excess reserves and implementation of monetary policy of the ECB
by Bindseil, Ulrich & Camba-Méndez, Gonzalo & Hirsch, Astrid & Weller, Benedict
- 360 Optimal monetary policy rules for the euro area: an analysis using the area wide model
by Dieppe, Alistair & Kuester, Keith & McAdam, Peter
- 359 The longer term refinancing operations of the ECB
by Linzert, Tobias & Nautz, Dieter & Bindseil, Ulrich
- 358 Did the pattern of aggregate employment growth change in the euro area in the late 1990s?
by Mourre, Gilles
- 357 Seasonal adjustment and the detection of business cycle phases
by Matas Mir, Antonio & Osborn, Denise R
- 356 Developing a euro area accounting matrix: issues and applications
by McAdam, Peter & Jellema, Tjeerd & Keuning, Steven & Mink, Reimund
- 355 Production interdependence and welfare
by Huang, Kevin X. D. & Liu, Zheng
- 354 Taking stock: monetary policy transmission to equity markets
by Ehrmann, Michael & Fratzscher, Marcel
- 353 Towards the estimation of equilibrium exchange rates for CEE acceding countries: methodological issues and a panel cointegration perspective
by Maeso-Fernandez, Francisco & Osbat, Chiara & Schnatz, Bernd
- 352 Forecasting inflation with thick models and neural networks
by McAdam, Peter & McNelis, Paul
- 351 Interest rate determination in the interbank market
by Gaspar, Vítor & Pérez Quirós, Gabriel & Rodríguez Mendizábal, Hugo
- 350 Exchange-rate policy and the zero bound on nominal interest rates
by Coenen, Günter & Wieland, Volker
- 349 Estimating the rank of the spectral density matrix
by Camba-Méndez, Gonzalo & Kapetanios, George
- 348 Financial openness and growth: short-run gain, long-run pain?
by Fratzscher, Marcel & Bussière, Matthieu
- 347 Firms' investment decisions in response to demand and price uncertainty
by Fuss, Catherine & Vermeulen, Philip
- 346 Perpetual youth and endogenous labour supply: a problem and a possible solution
by Ascari, Guido & Rankin, Neil
- 345 Optimal monetary and fiscal policy: a linear-quadratic approach
by Benigno, Pierpaolo & Woodford, Michael
- 344 Ramsey monetary policy and international relative prices
by Faia, Ester & Monacelli, Tommaso
- 343 Monetary discretion, pricing complementarity and dynamic multiple equilibria
by King, Robert G. & Wolman, Alexander L.
- 342 Equal size, equal role? Interdependence between the euro area and the United States
by Ehrmann, Michael & Fratzscher, Marcel
- 341 Benefits and spillovers of greater competition in Europe: a macroeconomic assessment
by Bayoumi, Tamim & Laxton, Douglas & Pesenti, Paolo
- 340 Indeterminacy with inflation-forecast-based rules in a two-bloc model
by Batini, Nicoletta & Levine, Paul & Pearlman, Joseph G.
- 339 Understanding the effects of government spending on consumption
by Galí, Jordi & López-Salido, David & Vallés, Javier
- 338 The optimal degree of discretion in monetary policy
by Athey, Susan & Atkeson, Andrew & Kehoe, Patrick J.
- 337 The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations
by Orphanides, Athanasios & Williams, John C.
- 336 The great inflation of the 1970s
by Collard, Fabrice & Dellas, Harris
- 335 Has euro-area inflation persistence changed over time?
by O'Reilly, Gerard & Whelan, Karl
- 334 Is inflation persistence intrinsic in industrial economies?
by Levin, Andrew T. & Piger, Jeremy M.
- 333 The pricing behaviour of Italian firms: new survey evidence on price stickiness
by Fabiani, Silvia & Gattulli, Angela & Sabbatini, Roberto
- 332 Stylised features of price setting behaviour in Portugal: 1992-2001
by Dias, Mónica & Dias, Daniel & Neves, Pedro D.
- 331 How frequently do prices change? Evidence based on the micro data underlying the Belgian CPI
by Aucremanne, Luc & Dhyne, Emmanuel
- 330 The demand for euro area currencies: past, present and future
by Fischer, Björn & Köhler-Ulbrich, Petra & Seitz, Franz
- 329 On the determinants of euro area FDI to the United States: the knowledge- capital-Tobin's Q framework
by Anderton, Robert & Hijzen, Alexander & De Santis, Roberto A.
- 328 Non-fundamental exchange rate volatility and welfare
by Straub, Roland & Tchakarov, Ivan
- 327 Diversification in euro area stock markets: country versus industry
by Moerman, Gerard
- 326 The Great Depression and the Friedman-Schwartz hypothesis
by Christiano, Lawrence & Motto, Roberto & Rostagno, Massimo
- 325 What are the spill-overs from fiscal shocks in Europe? An empirical analysis
by Giuliodori, Massimo & Beetsma, Roel
- 324 Fundamentals and joint currency crises
by Hartmann, Philipp & Straetmans, Stefan & de Vries, Casper
- 323 On the indeterminacy of new-Keynesian economics
by Beyer, Andreas & Farmer, Roger E. A.
- 322 Modelling inflation in the euro area
by Jansen, Eilev S.
- 321 Frequency domain principal components estimation of fractionally cointegrated processes
by Morana, Claudio
- 320 Institutions and service employment: a panel study for OECD countries
by Messina, Julián
- 319 Risk sharing through financial markets with endogenous enforcement of trades
by Koeppl, Thorsten Volker
- 318 Gross job flows and institutions in Europe
by Gomez-Salvador, Ramon & Messina, Julián & Vallanti, Giovanna
- 317 Fiscal policy and inflation volatility
by Backé, Peter
- 316 Cooperation in international banking supervision
by Holthausen, Cornelia & Rønde, Thomas
- 315 Option-implied asymmetries in bond market expectations around monetary policy actions of the ECB
by Vähämaa, Sami
- 314 Exchange rate risks and asset prices in a small open economy
by Derviz, Alexis
- 313 The high-yield segment of the corporate bond market: a diffusion modelling approach for the United States, the United Kingdom and the euro area
by de Bondt, Gabe & Marqués-Ibáñez, David
- 312 Similarities and convergence in G-7 cycles
by Canova, Fabio & Ciccarelli, Matteo & Ortega, Eva
- 311 Current accounts dynamics in OECD and EU acceding countries - an intertemporal approach
by Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu
- 310 International equity flows and returns: a quantative equilibrium approach
by Albuquerque, Rui & Bauer, Gregory H. & Schneider, Martin
- 309 Monetary policy shocks in the euro area and global liquidity spillovers
by Sousa, João & Zaghini, Andrea
- 308 International risk-sharing and the transmission of productivity shocks
by Corsetti, Giancarlo & Dedola, Luca & Leduc, Sylvain
- 307 Budgetary forecasts in Europe - the track record of stability and convergence programmes
by Strauch, Rolf & Hallerberg, Mark & von Hagen, Jürgen
- 306 A markup model of inflation for the euro area
by Bowdler, Christopher & Jansen, Eilev S.
- 305 A structural common factor approach to core inflation estimation and forecasting
by Morana, Claudio
- 304 Equilibrium unemployment, job flows and inflation dynamics
by Trigari, Antonella
- 303 Fiscal policy events and interest rate swap spreads: evidence from the EU
by Strauch, Rolf & Afonso, António
- 302 Deposit insurance, moral hazard and market monitoring
by Gropp, Reint & Vesala, Jukka
- 301 Inflation and relative price asymmetry
by Ratfai, Attila
- 300 Developing statistical indicators of the integration of the euro area banking system
by Manna, Michele
- 299 Import prices and pricing-to-market effects in the euro area
by Warmedinger, Thomas
2003
- 298 The lender of last resort: a 21st century approach
by Freixas, Xavier & Rochet, Jean-Charles & Parigi, Bruno M.
- 297 Measurement of contagion in banks' equity prices
by Gropp, Reint & Moerman, Gerard
- 296 Monetary policy analysis in a small open economy using Bayesian cointegrated structural VARs
by Warne, Anders & Villani, Mattias
- 295 Optimal allotment policy in the Eurosystem's main refinancing operations
by Cassola, Nuno & Ejerskov, Steen & Ewerhart, Christian & Valla, Natacha
- 294 Does the yield spread predict recessions in the euro area?
by Moneta, Fabio
- 293 Committees and special interests
by Grüner, Hans Peter & Felgenhauer, Mike
- 292 Bank mergers, competition and liquidity
by Carletti, Elena & Hartmann, Philipp & Spagnolo, Giancarlo
- 291 Measuring the time-inconsistency of US monetary policy
by Surico, Paolo
- 290 Inflation persistence and robust monetary policy design
by Coenen, Günter
- 289 Monetary and fiscal interactions in open economies
by Sutherland, Alan & Lombardo, Giovanni
- 288 Implementing optimal control in cointegrated I(1) structural VAR models
by Monti, Francesca V.
- 287 Consumer inflation expectations in Poland
by Łyziak, Tomasz
- 286 Country and sector-specific spillover effects in the euro area, the United States and Japan
by Kaltenhaeuser, Bernd
- 285 Government deficits, wealth effects and the price level in an optimizing model
by Annicchiarico, Barbara
- 284 The credibility of the monetary policy "free lunch"
by Yetman, James
- 283 US, Japan and the euro area: comparing business-cycle features
by McAdam, Peter
- 282 Optimal dynamic risk sharing when enforcement is a decision variable
by Koeppl, Thorsten Volker
- 281 Identifying fiscal shocks and policy regimes in OECD countries
by de Arcangelis, Giuseppe & Lamartina, Serena
- 280 Inflation, factor substitution and growth
by Klump, Rainer
- 279 Designing targeting rules for international monetary policy cooperation
by Benigno, Gianluca & Benigno, Pierpaolo
- 278 Relevant economic issues concerning the optimal rate of inflation
by Camba-Méndez, Gonzalo & García, Juan Angel & Rodriguez-Palenzuela, Diego
- 277 On the indeterminacy of determinacy and indeterminacy
by Beyer, Andreas & Farmer, Roger E. A.
- 276 Short-term estimates of euro area real GDP by means of monthly data
by Rünstler, Gerhard & Sédillot, Franck
- 275 Identifying the monetary transmission mechanism using structural breaks
by Beyer, Andreas & Farmer, Roger E. A.
- 274 Interpreting implied risk-neutral densities: the role of risk premia
by Vestin, David & Hördahl, Peter
- 273 Definition of price stability, range and point inflation targets: the anchoring of long-term inflation expectations
by Castelnuovo, Efrem & Rodriguez-Palenzuela, Diego & Nicoletti Altimari, Sergio
- 272 Inflation targets and the liquidity trap
by Klaeffling, Matt & López Pérez, Víctor
- 271 Indeterminacy and search theory
by Giammarioli, Nicola
- 270 Downward nominal wage rigidity and the long-run Philips Curve: simulation-based evidence for the euro area
by Coenen, Günter
- 269 Zero lower bound: is it a problem in the euro area?
by Coenen, Günter
- 268 The output composition puzzle: a difference in the monetary transmission mechanism in the euro area and U.S
by Angeloni, Ignazio & Kashyap, Anil K. & Mojon, Benoît & Terlizzese, Daniele
- 267 Comparing economic dynamics in the EU and CEE accession countries
by Süppel, Ralph
- 266 Finance and growth in the EU: new evidence from the liberalisation and harmonisation of the banking industry
by De Ãvila, Diego Romero
- 265 New Keynesian Phillips Curves: a reassessment using euro-area data
by McAdam, Peter & Willman, Alpo
- 264 A monthly monetary model with banking intermediation for the euro area
by Bruggeman, Annick & Donnay, Marie
- 263 Measuring contagion with a Bayesian, time-varying coefficient model
by Ciccarelli, Matteo & Rebucci, Alessandro
- 262 Indeterminacy of rational expectations equilibria in sequential financial markets
by Donati, Paola
- 261 Why has broad money demand been more stable in the euro area than in other economies? A literature review
by Calza, Alessandro & Sousa, João
- 260 Aggregation-theoretic monetary aggregation over the euro area, when countries are heterogeneous
by Barnett, William A.
- 259 Implicit tax co-ordination under repeated policy interactions
by Catenaro, Marco & Vidal, Jean-Pierre
- 258 Interest rate reaction functions and the Taylor rule in the euro area
by Gerlach-Kristen, Petra
- 257 Macroeconomic modelling of monetary policy
by Klaeffling, Matt
- 256 Information acquisition and decision making in committees: a survey
by Gerling, Kerstin & Grüner, Hans Peter & Kiel, Alexandra & Schulte, Elisabeth
- 255 Is the demand for euro area M3 stable?
by Bruggeman, Annick & Donati, Paola & Warne, Anders
- 254 Forecasting real GDP: what role for narrow money?
by Brand, Claus & Reimers, Hans-Eggert & Seitz, Franz
- 253 Bond market inflation expectations and longer-term trends in broad monetary growth and inflation in industrial countries, 1880-2001
by Dewald, William G.
- 252 Interpolation and backdating with a large information set
by Angelini, Elena & Henry, Jérôme & Marcellino, Massimiliano
- 251 Consumption, habit persistence, imperfect information and the lifetime budget constraint
by Willman, Alpo
- 250 Persistence, the transmission mechanism and robust monetary policy
by Backé, Peter & Smets, Frank & Coenen, Günter
- 249 Trade advantages and specialisation dynamics in acceding countries
by Zaghini, Andrea
- 248 Exchange rates and fundamentals
by Engel, Charles & West, Kenneth D.
- 247 Forecasting euro area inflation: Does aggregating forecasts by HICP component improve forecast accuracy?
by Hubrich, Kirstin
- 246 Public finances and long-term growth in Europe - evidence from a panel data analysis
by De Ãvila, Diego Romero & Strauch, Rolf
- 245 Money and payments: a modern perspective
by Holthausen, Cornelia & Monnet, Cyril
- 244 How does the ECB allot liquidity in its weekly main refinancing operations? A look at the empirical evidence
by Ejerskov, Steen & Martin Moss, Clara & Stracca, Livio
- 243 Pass-through of external shocks to euro area inflation
by Hahn, Elke
- 242 Public sector efficiency: an international comparison
by Schuknecht, Ludger & Tanzi, Vito & Afonso, António
- 241 Maintaining price stability under free-floating: a fearless way out of the corner?
by Detken, Carsten & Gaspar, Vítor
- 240 Monetary policy transmission in the euro area: any changes after EMU?
by Ehrmann, Michael & Backé, Peter
- 239 Temporary shocks and unavoidable transitions to a high-unemployment regime
by Den Haan, Wouter J.
- 238 The impact of monetary union on trade prices
by Taglioni, Daria & Anderton, Robert & Baldwin, Richard E.
- 237 Growth expectations, capital flows and international risk sharing
by Miller, Marcus & Stiegert, Roger & Castrén, Olli
- 236 Swiss monetary policy targeting 1974-1996: the role of internal policy analysis
by Rich, Georg
- 235 Volatility of interest rates in the euro area: evidence from high frequency data
by Cassola, Nuno & Morana, Claudio
- 234 Unemployment, hysteresis and transition
by León-Ledesma, Miguel A. & McAdam, Peter
- 233 The natural real rate of interest in the euro area
by Giammarioli, Nicola & Valla, Natacha
- 232 Describing the Fed's conduct with Taylor rules: is interest rate smoothing important?
by Castelnuovo, Efrem
- 231 Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero
by Orphanides, Athanasios & Wieland, Volker & Coenen, Günter
- 230 The euro area financial system: structure, integration and policy initiatives
by Hartmann, Philipp & Maddaloni, Angela & Manganelli, Simone
- 229 How does the ECB target inflation?
by Surico, Paolo
- 228 Monetary policy shocks - a nonfundamental look at the data
by Klaeffling, Matt
- 227 Monetary policy in a low pass-through environment
by Monacelli, Tommaso
- 226 The central bank as a risk manager: quantifying and forecasting inflation risks
by Kilian, Lutz & Manganelli, Simone
- 225 Productivity and the ('synthetic') euro-dollar exchange rate
by Osbat, Chiara & Schnatz, Bernd & Vijselaar, Focco
- 224 The rise of the yen vis-a-vis the "synthetic" euro: is it supported by economic fundamentals?
by Osbat, Chiara & Rüffer, Rasmus & Schnatz, Bernd
- 223 Optimal monetary policy with imperfect common knowledge
by Backé, Peter
- 222 Inflation dynamics and subjective expectations in the United States
by Padula, Mario & Backé, Peter
- 221 Estimating risk premia in money market rates
by Durré, Alain & Evjen, Snorre & Pilegaard, Rasmus
- 220 The allocation of competencies in an international union: a positive analysis
by Ruta, Michele
- 219 Extra-euro area manufacturing import prices and exchange rate pass-through
by Anderton, Robert
- 218 The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan
by Wieland, Volker & Coenen, Günter
- 217 The role of product market regulations in the process of structural change
by Messina, Julián
- 216 The admission of accession countries to an enlarged monetary union: a tentative assessment
by Ca' Zorzi, Michele & De Santis, Roberto A.
- 215 Budget institutions and fiscal performance in Central and Eastern European countries
by Gleich, Holger
- 214 On the selection of forecasting models
by Inoue, Atsushi & Kilian, Lutz
- 213 Aggregation and euro area Phillips curves
by Fabiani, Silvia & Morgan, Julian
- 212 Modelling the implied probability of stock market movements
by Glatzer, Ernst & Scheicher, Martin
- 211 Self-control and savings
by Michel, Philippe & Vidal, Jean-Pierre
- 210 Anticipated Ramsey reforms and the uniform taxation principle: the role of international financial markets
by Schmitt-Grohé, Stephanie & Uribe, Martín
- 209 A framework for collateral risk control determination
by Cossin, Didier & González, Fernando & Huang, Zhijiang & Backé, Peter
- 208 Do demographic changes affect risk premiums? Evidence from international data
by Ang, Andrew & Maddaloni, Angela
- 207 A comprehensive model on the euro overnight rate
by Würtz, Flemming Reinhardt
- 206 Empirical estimates of reaction functions for the euro area
by Gerdesmeier, Dieter & Roffia, Barbara
- 205 Real exchange rate in an inter-temporal n-country-model with incomplete markets
by Mercereau, Benoît
- 204 Asymmetric dynamics in the correlations of global equity and bond returns
by Cappiello, Lorenzo & Engle, Robert F. & Sheppard, Kevin
- 203 Myopic loss aversion, disappointment aversion, and the equity premium puzzle
by Stracca, Livio & Fielding, David
- 202 Aggregate loans to the euro area private sector
by Calza, Alessandro & Sousa, João & Manrique, Marta
2002
- 201 Euro area inflation persistence
by Batini, Nicoletta
- 200 Interdependence between the euro area and the US: what role for EMU?
by Ehrmann, Michael & Fratzscher, Marcel
- 199 Time variation in the tail behaviour of bunds futures returns
by Upper, Christian & Werner, Thomas
- 198 Extracting risk neutral probability densities by fitting implied volatility smiles: some methodological points and an application to the 3M Euribor futures option prices
by Bødskov Andersen, Allan & Wagener, Tom
- 197 A model of the Eurosystem's operational framework for monetary policy implementation
by Ewerhart, Christian
- 196 Bootstrapping autoregressions with conditional heteroskedasticity of unknown form
by Gonçalves, Sílvia & Kilian, Lutz
- 195 In-sample or out-of-sample tests of predictability: which one should we use?
by Inoue, Atsushi & Kilian, Lutz
- 194 Sensitivity analysis of volatility: a new tool for risk management
by Ceci, Vladimiro & Manganelli, Simone & Vecchiato, Walter
- 193 Sustainability of public finances and automatic stabilisation under a rule of budgetary discipline
by Marín, José M.
- 192 Is the European Central Bank (and the United States Federal Reserve) predictable?
by Pérez Quirós, Gabriel & Sicilia, Jorge
- 191 The fiscal costs of financial instability revisited
by Eschenbach, Felix & Schuknecht, Ludger
- 190 Monetary policy and the zero bound to interest rates: a review
by Yates, Tony
- 189 Debt reduction and automatic stabilisation
by Hiebert, Paul & Rostagno, Massimo & Pérez, Javier J.
- 188 Should central banks really be flexible?
by Grüner, Hans Peter
- 187 A fiscal theory of sovereign risk
by Uribe, Martín
- 186 Using money market rates to assess the alternatives of fixed vs. variable rate tenders: the lesson from 1989-1998 data for Germany
by Manna, Michele
- 185 European integration: what lessons for other regions? The case of Latin America
by Dorrucci, Ettore & Fratzscher, Marcel & Mongelli, Francesco Paolo & Firpo, Stefano