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642: Financing constraints and firms’ cash policy in the euro area Downloads
Rozália Pál and Annalisa Ferrando
641: A factor risk model with reference returns for the US dollar and Japanese yen bond markets Downloads
Carlos Bernadell, Joachim Coche and Ken Nyholm
640: Employment stickiness in small manufacturing firms Downloads
Philip Vermeulen
639: Optimal monetary policy with uncertainty about financial frictions Downloads
Richhild Moessner
638: Detecting and predicting forecast breakdowns Downloads
Raffaella Giacomini and Barbara Rossi
637: Transparency, expectations, and forecasts Downloads
Andrew Bauer, Robert Eisenbeis, Daniel Waggoner and Tao Zha
636: Exchange rate stabilization in developed and underdeveloped capital markets Downloads
Viera Chmelarova and Gunther Schnabl
635: Identifying the role of labor markets for monetary policy in an estimated DSGE model Downloads
Kai Christoffel, Keith Kuester and Tobias Linzert
634: Expenditure reform in industrialised countries: a case study approach Downloads
Sebastian Hauptmeier, Martin Heipertz and Ludger Schuknecht
633: Nowcasting GDP and inflation: the real-time informational content of macroeconomic data releases Downloads
Domenico Giannone, Lucrezia Reichlin and David H. Small
632: Does information help recovering structural shocks from past observations? Downloads
Domenico Giannone and Lucrezia Reichlin
631: Which news moves the euro area bond market? Downloads
Magnus Andersson, Lars Jul Hansen and Szabolcs Sebestyén
630: Implications of monetary union for catching-up member states Downloads
Marcelo Sánchez
629: A market microstructure analysis of foreign exchange intervention Downloads
Paolo Vitale
628: Long-run money demand in the new EU Member States with exchange rate effects Downloads
Christian Dreger, Hans-Eggert Reimers and Barbara Roffia
627: Euro area banking sector integration: using hierarchical cluster analysis techniques Downloads
Christoffer Kok and Josep Maria Puigvert Gutiérrez
626: Financial integration, international portfolio choice and the European Monetary Union Downloads
Roberto De Santis and Bruno Gérard
625: Sectoral explanations of employment in Europe: the role of services Downloads
D’Agostino, Antonello, Roberta Serafini and Melanie Ward-Warmedinger
624: Foreign reserves management subject to a policy objective Downloads
Joachim Coche, Matti Koivu, Ken Nyholm and Vesa Poikonen
623: Human capital, the structure of production, and growth Downloads
Antonio Ciccone and Elias Papaioannou
622: Short-term forecasts of euro area real GDP growth: an assessment of real-time performance based on vintage data Downloads
Marie Diron
621: Assessing predetermined expectations in the standard sticky-price model: a Bayesian approach Downloads
Peter Welz
620: Does fiscal policy matter for the trade account? A panel cointegration study Downloads
Katja Funke and Christiane Nickel
619: Cyclical inflation divergence and different labor market institutions in the EMU Downloads
Alessia Campolmi and Ester Faia
618: The patterns and determinants of price setting in the Belgian industry Downloads
David Cornille and Maarten Dossche
617: New survey evidence on the pricing behaviour of Luxembourg firms Downloads
Patrick Lünnemann and Thomas Mathä
616: Global financial transmission of monetary policy shocks Downloads
Michael Ehrmann and Marcel Fratzscher
615: Quantitative goals for monetary policy Downloads
Antonio Fatas, Ilian Mihov and Andrew Rose
614: Expenditure switching vs. real exchange rate stabilization: competing objectives for exchange rate policy Downloads
Michael Devereux and Charles Engel
613: Welfare-based monetary policy rules in an estimated DSGE model of the US economy Downloads
Michel Juillard, Philippe Karam, Douglas Laxton and Paolo Pesenti
612: Optimal fiscal and monetary policy in a medium-scale macroeconomic model Downloads
Stephanie Schmitt-Grohé and Martín Uribe
611: Monetary policy, determinacy, and learnability in the open economy Downloads
James Bullard and Eric Schaling
610: Real-time model uncertainty in the United States: the Fed from 1996-2003 Downloads
Robert Tetlow and Brian Ironside
609: The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation Downloads
Willem Buiter
608: How does information affect the comovement between interest rates and exchange rates? Downloads
Marcelo Sánchez
607: Price setting behaviour in the Netherlands: results of a survey Downloads
Ad Stokman and Marco Hoeberichts
606: Measuring the importance of the uniform nonsynchronization hypothesis Downloads
Daniel Dias, Carlos Marques and João Santos Silva
605: (Un)Predictability and macroeconomic stability Downloads
D’Agostino, Antonello, Domenico Giannone and Paolo Surico
604: A dynamic model of settlement Downloads
Thorsten Koeppl, Cyril Monnet and Ted Temzelides
603: Estimating multi-country VAR models Downloads
Fabio Canova and Matteo Ciccarelli
602: Job flow dynamics and firing restrictions: evidence from Europe Downloads
Julian Messina and Giovanna Vallanti
601: Excess burden and the cost of inefficiency in public services provision Downloads
Antonio Afonso and Vítor Gaspar
600: A speed limit monetary policy rule for the euro area Downloads
Livio Stracca
599: What effects is EMU having on the euro area and its member countries? An overview Downloads
Francesco Mongelli and Juan Luis Vega
598: The impact of the euro on financial markets Downloads
Lorenzo Cappiello, Peter Hördahl, Arjan Kadareja and Simone Manganelli
597: Price setting and inflation persistence: did EMU matter? Downloads
Ignazio Angeloni, Luc Aucremanne and Matteo Ciccarelli
596: The effects of EMU on structural reforms in labour and product markets Downloads
Romain Duval and Jørgen Elmeskov
595: Trends and cycles in the euro area: how much heterogeneity and should we worry about it? Downloads
Domenico Giannone and Lucrezia Reichlin
594: The euro’s trade effects Downloads
Richard Baldwin
593: Robustifying learnability Downloads
Robert Tetlow and Peter von zur Muehlen
592: Non-linear dynamics in the euro area demand for M1 Downloads
Alessandro Calza and Andrea Zaghini
591: Cointegration in panel data with breaks and cross-section dependence Downloads
Anindya Banerjee and Josep Carrion-i-Silvestre
590: The pecking order of cross-border investment Downloads
Christian Daude and Marcel Fratzscher
589: Forecasting economic aggregates by disaggregates Downloads
David Hendry and Kirstin Hubrich
588: Rational inattention, inflation developments and perceptions after the euro cash changeover Downloads
Michael Ehrmann
587: Determinants of business cycle synchronisation across euro area countries Downloads
Uwe Böwer and Catherine Guillemineau
586: A method to generate structural impulse-responses for measuring the effects of shocks in structural macro models Downloads
Andreas Beyer and Roger Farmer
585: Are specific skills an obstacle to labor market adjustment? Theory and an application to the EU enlargement Downloads
Ana Lamo, Julian Messina and Etienne Wasmer
584: A new theory of forecasting Downloads
Simone Manganelli
583: Back to square one: identification issues in DSGE models Downloads
Fabio Canova and Luca Sala
582: What accounts for the changes in U.S. fiscal policy transmission? Downloads
Florin Bilbiie, Andre Meier and Gernot Müller
581: Public sector efficiency: evidence for new EU member states and emerging markets Downloads
Antonio Afonso, Ludger Schuknecht and Vito Tanzi
580: Bank interest rate pass-through in the euro area: a cross country comparison Downloads
Christoffer Kok and Thomas Werner
579: A disaggregated framework for the analysis of structural developments in public finances Downloads
Jana Kremer, Cláudia Rodrigues Braz, Teunis Brosens, Geert Langenus, Sandro Momigliano and Mikko Spolander
578: Forecasting ECB monetary policy: accuracy is (still) a matter of geography Downloads
Helge Berger, Michael Ehrmann and Marcel Fratzscher
577: Distortionary taxation, debt, and the price level Downloads
Andreas Schabert and Leopold von Thadden
576: Debt stabilizing fiscal rules Downloads
Philippe Michel, Leopold von Thadden and Jean-Pierre Vidal
575: Growth in euro area labour quality Downloads
Guido Schwerdt and Jarkko Turunen
574: Inflation convergence and divergence within the European Monetary Union Downloads
Fabio Busetti, Lorenzo Forni, Andrew Harvey and Fabrizio Venditti
573: Credit chains and the propagation of financial distress Downloads
Frédéric Boissay
572: Information, habits, and consumption behavior: evidence from micro data Downloads
Mika Kuismanen and Luigi Pistaferri
571: Are emerging market currency crises predictable? A test Downloads
Tuomas A. Peltonen
570: Household debt sustainability: what explains household non-performing loans? An empirical analysis Downloads
Laura Rinaldi and Alicia Sanchis-Arellano
569: Towards European monetary integration: the evolution of currency risk premium as a measure for monetary convergence prior to the implementation of currency unions Downloads
Fernando González and Simo Launonen
568: Exploring the international linkages of the euro area: a global VAR analysis Downloads
Stephane Dees, Filippo di Mauro, M Pesaran and L. Vanessa Smith
567: Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation Downloads
Marcelo Sánchez
566: Real versus financial frictions to capital investment Downloads
Nihal Bayraktar, Plutarchos Sakellaris and Philip Vermeulen
565: The timing of central bank communication Downloads
Michael Ehrmann and Marcel Fratzscher
564: Forecasting the central bank’s inflation objective is a good rule of thumb Downloads
Marie Diron and Benoit Mojon
563: Sticky prices in the euro area: a summary of new micro evidence Downloads
Luis Alvarez, Emmanuel Dhyne, Marco Hoeberichts, Claudia Kwapil, Hervé Le Bihan, Patrick Lünnemann, Fernando Martins, Roberto Sabbatini, Harald Stahl, Philip Vermeulen and Jouko Vilmunen
562: The price setting behaviour of Portuguese firms: evidence from survey data Downloads
Fernando Martins
561: Price setting in German manufacturing: new evidence from new survey data Downloads
Harald Stahl
560: The determinants of ‘domestic’ original sin in emerging market economies Downloads
Arnaud Mehl and Julien Reynaud
559: When did unsystematic monetary policy have an effect on inflation? Downloads
Benoit Mojon
558: Ricardian fiscal regimes in the European Union Downloads
Antonio Afonso
557: How should central banks communicate? Downloads
Michael Ehrmann and Marcel Fratzscher
556: The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics Downloads
Kai Christoffel and Tobias Linzert
555: Near-rational exuberance Downloads
James Bullard, George Evans and Seppo Honkapohja
554: Equilibrium and inefficiency in fixed rate tenders Downloads
Christian Ewerhart, Nuno Cassola and Natacha Valla
553: Global bond portfolios and EMU Downloads
Philip Lane
552: European Union enlargement and equity markets in accession countries Downloads
Tomas Dvorak and Richard Podpiera
551: Technological diversification Downloads
Miklós Koren and Silvana Tenreyro
550: Underwriter competition and gross spreads in the eurobond market Downloads
Michael G. Kollo
549: Eigenvalue filtering in VAR models with application to the Czech business cycle Downloads
Jaromír Beneš and David Vavra
548: The link between interest rates and exchange rates: do contractionary depreciations make a difference? Downloads
Marcelo Sánchez
547: Bank finance versus bond finance: what explains the differences between US and Europe? Downloads
Fiorella De Fiore and Harald Uhlig
546: The natural real interest rate and the output gap in the euro area: a joint estimation Downloads
Julien Garnier and Bjørn-Roger Wilhelmsen
545: Trade integration of Central and Eastern European countries: lessons from a gravity model Downloads
Matthieu Bussiere, Jarko Fidrmuc and Bernd Schnatz
544: Forecasting the yield curve in a data-rich environment: a no-arbitrage factor-augmented VAR approach Downloads
Emanuel Mönch
543: Lending booms in the new EU Member States: will euro adoption matter? Downloads
Michal Brzoza-Brzezina
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