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Series handle: RePEc:ecb:ecbwps
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Content
2003
- 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
- 184 Efficient pricing of large value interbank payment systems
by Holthausen, Cornelia & Rochet, Jean-Charles
- 183 Monetary policy in a world with different financial systems
by Faia, Ester
- 182 The information content of real-time output gap estimates, an application to the euro area
by Rünstler, Gerhard
- 181 Inflation dynamics and international linkages: a model of the United States, the euro area and Japan
by Wieland, Volker & Coenen, Günter
- 180 Regional inflation in a currency union: fiscal policy vs. fundamentals
by Duarte, Margarida & Wolman, Alexander L.
- 179 Optimal monetary policy with durable and non-durable goods
by Erceg, Christopher J. & Levin, Andrew T.
- 178 Inflation persistence and optimal monetary policy in the euro area
by Benigno, Pierpaolo & López-Salido, David
- 177 A theory of the currency denomination of international trade
by Van Wincoop, Eric & Backé, Peter
- 176 Macroeconomics of international price discrimination
by Corsetti, Giancarlo & Dedola, Luca
- 175 Monetary policy and the financial accelerator in a monetary union
by Gilchrist, Simon & Hairault, Jean-Olivier & Kempf, Hubert
- 174 International monetary policy coordination and financial market integration
by Sutherland, Alan
- 173 Openness and equilibrium determinacy under interest rate rules
by De Fiore, Fiorella & Liu, Zheng
- 172 Constructing quality-adjusted price indices: a comparison of hedonic and discrete choice models
by Jonker, Nicole
- 171 An estimated stochastic dynamic general equilibrium model of the euro area
by Smets, Frank & Wouters, Raf
- 170 What measure of inflation should a central bank target?
by Mankiw, N. Gregory & Reis, Ricardo
- 169 Modeling model uncertainty
by Onatski, Alexei & Williams, Noah
- 168 Estimating the effects of fiscal policy in OECD countries
by Perotti, Roberto
- 167 Identifying the effects of monetary policy shocks on exchange rates using high frequency data
by Faust, Jon & Rogers, John H. & Swanson, Eric & Wright, Jonathan H.
- 166 Monetary and fiscal policy interactions in a micro-founded model of a monetary union
by Jensen, Henrik & Beetsma, Roel
- 165 The industry effects of monetary policy in the euro area
by Peersman, Gert & Smets, Frank
- 164 Euro area corporate debt securities market: first empirical evidence
by de Bondt, Gabe
- 163 The rationality of consumers' inflation expectations: survey-based evidence for the euro area
by Forsells, Magnus & Kenny, Geoff
- 162 Public debt asymmetries: the effect on taxes and spending in the European Union
by Krogstrup, Signe
- 161 The optimal allocation of risks under prospect theory
by Stracca, Livio
- 160 Model uncertainty and the equilibrium value of the real effective euro exchange rate
by Detken, Carsten & Henry, Jérôme & Smets, Frank & Dieppe, Alistair & Marin, Carmen
- 159 Optimal public money
by Monnet, Cyril
- 158 Quantifying embodied technological change
by Sakellaris, Plutarchos & Wilson, Daniel J.
- 157 Bidding and performance in repo auctions: evidence from ECB open market operations
by Bindseil, Ulrich & Nyborg, Kjell G. & Strebulaev, Ilya A.
- 156 Identifying endogenous fiscal policy rules for macroeconomic models
by Hiebert, Paul & Pérez, Javier J.
- 155 Youth unemployment in the OECD: demographic shifts, labour market institutions, and macroeconomic shocks
by Jimeno, Juan F. & Rodriguez-Palenzuela, Diego
- 154 The Euro bloc, the Dollar bloc and the Yen bloc: how much monetary policy independence can exchange rate flexibility buy in an interdependent world?
by Fratzscher, Marcel
- 153 Euro area production function and potential output: a supply side system approach
by Willman, Alpo
- 152 Short-term monitoring of fiscal policy discipline
by Camba-Méndez, Gonzalo & Lamo, Ana
- 151 G-7 Inflation forecasts
by Canova, Fabio
- 150 Equity and bond market signals as leading indicators of bank fragility
by Vesala, Jukka & Vulpes, Giuseppe & Gropp, Reint
- 149 The Spanish block of the ESCB-multi-country model
by Estrada, Ángel & Willman, Alpo
- 148 The functional form of yield curves
by Brousseau, Vincent
- 147 Time-to-build approach in a sticky price, sticky wage optimizing monetary model
by Casares, Miguel
- 146 Competition and stability: what's special about banking?
by Carletti, Elena & Hartmann, Philipp
- 145 Towards a new early warning system of financial crises
by Fratzscher, Marcel & Bussière, Matthieu
- 144 A failure in the measurement of inflation: results from a hedonic and matched experiment using scanner data
by Heravi, Saeed & Silver, Mick
- 143 A nonparametric method for valuing new goods
by Blow, Laura & Crawford, Ian
- 142 Modelling the daily banknotes in circulation in the context of the liquidity management of the European Central Bank
by Cabrero, Alberto & Camba-Méndez, Gonzalo & Hirsch, Astrid & Nieto, Fernando
- 141 Asset prices and fiscal balances
by Eschenbach, Felix & Schuknecht, Ludger
- 140 Price setting and the steady-state effects of inflation
by Casares, Miguel
- 139 On currency crises and contagion
by Fratzscher, Marcel
- 138 "New" views on the optimum currency area theory: what is EMU telling us?
by Mongelli, Francesco Paolo
- 137 Equilibrium bidding in the Eurosystem's open market operations
by Bindseil, Ulrich
- 136 Retail bank interest rate pass-through: new evidence at the euro area level
by de Bondt, Gabe
- 135 The optimal mix of taxes on money, consumption and income
by De Fiore, Fiorella & Teles, Pedro
- 134 The cost of private transportation in the Netherlands, 1992-1999
by Bode, Ben & Van Dalen, Jan
- 133 Can confidence indicators be useful to predict short term real GDP growth?
by Mourougane, Annabelle & Roma, Moreno
- 132 Inflation dynamics and dual inflation in accession countries: a 'New Keynesian' perspective
by Rodriguez-Palenzuela, Diego & Thimann, Christian & Backé, Peter
- 131 Measurement bias in the HICP: what do we know, and what do we need to know?
by Rodriguez-Palenzuela, Diego & Wynne, Mark A.
- 130 Harmonized indexes of consumer prices: their conceptual foundations
by Diewert, Erwin
- 129 Non-standard central bank loss functions, skewed risks, and certainty equivalence
by Backé, Peter & Stracca, Livio
- 128 Openness, imperfect exchange rate pass-through and monetary policy
by Smets, Frank & Wouters, Raf
- 127 Performance of monetary policy with internal central bank forecasting
by Honkapohja, Seppo & Mitra, Kaushik
- 126 Optimal contracts in a dynamic costly state verification model
by Monnet, Cyril & Quintin, Erwan
- 125 Duration, volume and volatility impact of trades
by Manganelli, Simone
- 124 Monetary policy, expectations and commitment
by Evans, George W. & Honkapohja, Seppo
- 123 Analysing and combining multiple credit assessments of financial institutions
by Tabakis, Evangelos & Vinci, Anna
- 122 New technologies and productivity growth in the euro area
by Vijselaar, Focco & Backé, Peter
- 121 Natural rate doubts
by Beyer, Andreas & Farmer, Roger E. A.
- 120 Learning stability in economics with heterogeneous agents
by Honkapohja, Seppo & Mitra, Kaushik
- 119 Monetary policy and the stock market in the euro area
by Cassola, Nuno & Morana, Claudio
- 118 Durable goods, price indexes and quality change: an application to automobile prices in Italy, 1988-1998
by Tomat, Gian Maria
- 117 Hedonic house prices without characteristics: the case of new multiunit housing
by Bover, Olympia & Velilla, Pilar
- 116 Rent indices for housing in West Germany 1985 to 1998
by Hoffmann, Johannes & Kurz, Claudia
- 115 Monetary policy rules, macroeconomic stability and inflation: a view from the trenches
by Orphanides, Athanasios
- 114 Monetary Transmission in the Euro Area : Where Do We Stand?
by Kashyap, Anil K. & Mojon, Benoît & Terlizzese, Daniele & Backé, Peter
- 113 Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications
by Bean, Charles & Larsen, Jens D. J. & Nikolov, Kalin
2001
- 112 Firm investment and monetary transmission in the euro area
by Chatelain, Jean-Bernard & Generale, Andrea & Hernando, Ignacio & Vermeulen, Philip & Von Kalckreuth, Ulf
- 111 Monetary transmission: empirical evidence from Luxembourg firm level data
by Lünnemann, Patrick & Mathä, Thomas Y.
- 110 Does monetary policy have asymmetric effects? A look at the investment decisions of Italian firms
by Gaiotti, Eugenio & Generale, Andrea
- 109 Monetary transmission in Germany: new perspectives on financial constraints and investment spending
by Von Kalckreuth, Ulf
- 108 Credit channel and investment behaviour in Austria: a micro-econometric approach
by Valderrama, Maria Teresa
- 107 The interest rate and credit channel in Belgium: an investigation with micro-level firm data
by Butzen, Paul & Fuss, Catherine & Vermeulen, Philip
- 106 Investment, the cost of capital, and monetary policy in the nineties in France: a panel data investigation
by Chatelain, Jean-Bernard & Tiomo, André
- 105 Financial systems and the role of banks in monetary policy transmission in the euro area
by Ehrmann, Michael & Gambacorta, Leonardo & Martínez Pagés, Jorge & Sevestre, Patrick & Worms, Andreas
- 104 Is there a bank lending channel of monetary policy in Greece? Evidence from bank level data
by Brissimis, Sophocles N. & Kamberoglou, Nicos C. & Simigiannis, George T.
- 103 Bank-specific characteristics and monetary policy transmission: the case of Italy
by Gambacorta, Leonardo
- 102 The bank lending channel of monetary policy: identification and estimation using Portuguese micro bank data
by Farinha, Luísa & Robalo Marques, Carlos
- 101 Monetary policy and bank lending in France: are there asymmetries?
by Loupias, Claire & Savignac, Frédérique & Sevestre, Patrick
- 100 Transmission of monetary policy shocks in Finland: evidence from bank level data on loans
by Topi, Jukka & Vilmunen, Jouko
- 99 Is there a bank lending channel of monetary policy in Spain?
by Hernando, Ignacio & Martínez Pagés, Jorge
- 98 The credit channel in the Netherlands: evidence from bank balance sheets
by de Haan, Leo
- 97 Asymmetries in bank lending behaviour. Austria during the 1990s
by Kaufmann, Sylvia
- 96 The reaction of bank lending to monetary policy measures in Germany
by Worms, Andreas
- 95 Some stylised facts on the euro area business cycle
by Mojon, Benoît & Agresti, Anna Maria
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