Working Paper Series

From European Central Bank
60640 Frankfurt am Main, Germany.
Contact information at EDIRC.
Bibliographic data for series maintained by Official Publications ().

Access Statistics for this working paper series.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

20161899: Monetary policy according to HANK

Greg Kaplan, Benjamin Moll and Giovanni L. Violante

20161898: Credit risk spillover between financials and sovereigns in the euro area during 2007-2015

Olivier Vergote

20161897: Restoring rational choice: The challenge of consumer financial regulation

John Campbell

20161896: Dynamic balance sheet model with liquidity risk

Grzegorz Halaj

20161895: Credit, asset prices and business cycles at the global level

Stephane Dees

20161894: Sovereign risk and bank risk-taking

Anil Ari

20161893: On the design of data sets for forecasting with dynamic factor models

Gerhard Rünstler

20161892: A lost generation? Education decisions and employment outcomes during the U.S. housing boom-bust cycle of the 2000s

Alexander Popov and Luc Laeven

20161891: Parsing financial fragmentation in the euro area: a multi-country DSGE perspective

Matthieu Darracq Paries, Pascal Jacquinot and Niki Papadopoulou

20161890: Does slack influence public and private labor market interactions?

Ana Lamo, Javier Pérez and Enrique Moral-Benito

20161889: Cables, Sharks and Servers: Technology and the Geography of the Foreign Exchange Market

Arnaud Mehl, Barry Eichengreen and Romain Lafarguette

20161888: The impact of bank capital on economic activity - evidence from a mixed-cross-section GVAR model

Christoffer Kok, Marco Gross and Dawid Żochowski

20161887: Network Dependence in the Euro Area Money Market

Gerhard Rünstler

20161886: Lending-of-last-resort is as lending-of-last-resort does: central bank liquidity provision and interbank market functioning in the euro area

Simone Manganelli, Florian Heider, Marie Hoerova and Carlos Garcia-de-Andoain

20161885: Advances in multivariate back-testing for credit risk underestimation

Stephan Sauer, François Coppens, Manuel Mayer, Laurent Millischer, Florian Resch and Klaas Schulze

20161884: Lenders on the storm of wholesale funding shocks: Saved by the central bank?

Leo de Haan, Philip Vermeulen and Jan Willem End

20161883: Is fiscal consolidation self-defeating? A Panel-VAR analysis for the Euro area countries

Maria Grazia Attinasi and Luca Metelli

20161882: Is the intrinsic value of macroeconomic news announcements related to their asset price impact?

Thomas Gilbert, Chiara Scotti, Georg Strasser and Clara Vega

20161881: Assessing the efficacy of borrower-based macroprudential policy using an integrated micro-macro model for European households

Marco Gross and Francisco Javier Población García

20161880: Reserve accumulation, inflation and moral hazard: Evidence from a natural experiment

Livia Chitu

20161879: Taking gravity online: the role of virtual proximity in international finance

Martin Schmitz and Christiane Hellmanzik

20161878: Sovereign to corporate risk spillovers

Patrick Augustin, Hamid Boustanifar, Johannes Breckenfelder and Jan Schnitzler

20161877: Credit subsidies

Isabel Correia, Fiorella De Fiore, Pedro Teles and Oreste Tristani

20161876: Bank networks from text: interrelations, centrality and determinants

Peter Sarlin and Samuel Rönnqvist

20161875: The information in systemic risk rankings

Bernd Schwaab, Siem Jan Koopman, Andre Lucas and Federico Calogero Nucera

20161874: Cash management and payment choices: a simulation model with international comparisons

Carlos Alberto Arango, David Bounie, Yassine Bouhdaoui, Martina Eschelbach and Lola Hernandez

20151873: Dating systemic financial stress episodes in the EU countries

Tuomas Peltonen, Benjamin Klaus and Thibaut Duprey

20151872: Fiscal rules, fiscal space and procyclical fiscal policy

Carolin Nerlich and Wolf Heinrich Reuter

20151871: How do speed and security influence consumers' payment behavior?

Scott Schuh and Joanna Stavins

20151870: Regional dynamics of economic performance in the EU: To what extent spatial spillovers matter?

Stephane Dees and Selin Özyurt

20151869: Spillovers from the ECB's non-standard monetary policies on non-euro area EU countries: evidence from an event-study analysis

Peter McQuade, Matteo Falagiarda and Marcel Tirpák

20151868: To bi, or not to bi? Differences in spillover estimates from bilateral and multilateral multi-country models

Georgios Georgiadis

20151867: A note on implementing the Durbin and Koopman simulation smoother

Marek Jarociński

20151866: Interconnectedness of the banking sector as a vulnerability to crises

Tuomas Peltonen, Peter Sarlin and Michela Rancan

20151865: Inflation forecasts: Are market-based and survey-based measures informative?

Aidan Meyler and Magdalena Grothe

20151864: Asset purchase programmes and financial markets: lessons from the euro area

Roberto Motto, Carlo Altavilla and Giacomo Carboni

20151863: Fiscal multipliers during consolidation: evidence from the European Union

Philipp Rother and Alessandro Cugnasca

20151862: Worker flows in the European Union during the Great Recession

Juan F Jimeno, Jose Casado and Cristina Fernandez

20151861: Loan supply, credit markets and the euro area financial crisis

Carlo Altavilla, Matthieu Darracq Paries and Giulio Nicoletti

20151860: What drives forbearance - evidence from the ECB Comprehensive Assessment

Carmelo Salleo, Timotej Homar and Heinrich Kick

20151859: Corporate investment and bank-dependent borrowers during the recent financial crisis

Philip Vermeulen and Andra Buca

20151858: Fiscal policy adjustments in the euro area stressed countries: new evidence from non-linear models with state-varying thresholds

Roberto De Santis, Gabriella Legrenzi and Costas Milas

20151857: International spillovers in inflation expectations

Matteo Ciccarelli and Juan Angel García

20151856: Combining time-variation and mixed-frequencies: an analysis of government spending multipliers in Italy

Antonello D'Agostino and Jacopo Cimadomo

20151855: Quantitative effects of the shale oil revolution

Galo Nuño Barrau and Cristiana Manescu

20151854: Determinants of global spillovers from US monetary policy

Georgios Georgiadis

20151853: Price level changes and the redistribution of nominal wealth across the euro area

Klaus Adam and Junyi Zhu

20151852: Financial literacy and savings account returns

Dimitris Georgarakos, Roman Inderst and Florian Deuflhard

20151851: A rotated Dynamic Nelson-Siegel model with macro-financial applications

Ken Nyholm

20151850: Jagged cliffs and stumbling blocks: interest rate pass-through fragmentation during the Euro area crisis

Sarah Holton and d’Acri, Costanza Rodriguez

20151849: Drivers of banks' cost of debt and long-term benefits of regulation - an empirical analysis based on EU banks

Laurent Maurin and Artus Galiay

20151848: Systemic risk rankings and network centrality in the European banking sector

Valerie De Bruyckere

20151847: Private wealth across European countries: the role of income, inheritance and the welfare state

Pirmin Fessler and Martin Schürz

20151846: Characterising the financial cycle: a multivariate and time-varying approach

Paul Hiebert, Tuomas Peltonen and Yves Schüler

20151845: A false sense of security in applying handpicked equations for stress test purposes

Marco Gross and Francisco Javier Población García

20151844: Domestic and multilateral effects of capital controls in emerging markets

Martin Bijsterbosch, Matteo Falagiarda, Gurnain Pasricha and Joshua Aizenman

20151843: Debt overhang and deleveraging in the US household sector: gauging the impact on consumption

Bruno Albuquerque and Georgi Krustev

20151842: The real effects of credit constraints: evidence from discouraged borrowers in the euro area

Annalisa Ferrando and Klaas Mulier

20151841: Inattention to rare events

Bartosz Maćkowiak and Mirko Wiederholt

20151840: Sovereign risk, interbank freezes, and aggregate fluctuations

Philipp Engler and Christoph Grosse Steffen

20151839: The geography of the great rebalancing in euro area bond markets during the sovereign debt crisis

Roland Beck, Georgios Georgiadis and Johannes Gräb

20151838: Estimation of linear dynamic panel data models with time-invariant regressors

Claudia Schwarz and Sebastian Kripfganz

20151837: Modeling financial sector joint tail risk in the euro area

Bernd Schwaab, Andre Lucas and Xin Zhang

20151836: Assessing the financial and financing conditions of firms in Europe: the financial module in CompNet

Annalisa Ferrando, Carlo Altomonte, Sven Blank, Philipp Meinen, Matteo Iudice, Marie-Helene Felt, Katja Neugebauer and Iulia Siedschlag

20151835: Between capture and discretion - The determinants of distressed bank treatment and expected government support

Magdalena Ignatowski, Josef Korte and Charlotte Werger

20151834: Fiscal targets. A guide to forecasters?

Gabriel Perez Quiros, Javier Pérez and Joan Paredes

20151833: The great collapse in value added trade

Robert Stehrer and Arne Nagengast

20151832: Long-lasting consequences of the European crisis

Juan F Jimeno

20151831: Credit ratings and cross-border bond market spillovers

Benjamin Böninghausen and Michael Zabel

20151830: Optimal capital requirements over the business and financial cycles

Frederic Malherbe

20151829: Creditor protection, judicial enforcement and credit access

Annalisa Ferrando, Andrea Moro and Daniela Maresch

20151828: Network linkages to predict bank distress

Tuomas Peltonen, Peter Sarlin and Andreea Piloiu

20151827: Capital regulation in a macroeconomic model with three layers of default

Kalin Nikolov, Livio Stracca, Alexis Derviz, Caterina Mendicino, Stéphane Moyen, Laurent Clerc, Javier Suarez and Alexandros P. Vardoulakis

20151826: Virtual proximity and audiovisual services trade

Martin Schmitz and Christiane Hellmanzik

20151825: Uncertainty shocks, banking frictions and economic activity

Dario Bonciani and Björn van Roye

20151824: Shoe-leather costs in the euro area and the foreign demand for euro banknotes

Alessandro Calza and Andrea Zaghini

20151823: Financial constraints and productivity: evidence from euro area companies

Annalisa Ferrando and Alessandro Ruggieri

20151822: Gender bias and credit access

Steven Ongena and Alexander Popov

20151821: Financing constraints, employment, and labor compensation: evidence from the subprime mortgage crisis

Alexander Popov and Jörg Rocholl

20151820: Sovereign stress, unconventional monetary policy, and SME access to finance

Annalisa Ferrando, Alexander Popov and Gregory Udell

20151819: Euro area business cycles in turbulent times: convergence or decoupling?

Benjamin Klaus and Filippo Ferroni

20151818: An alternative view of exchange market pressure episodes in emerging Europe: an analysis using Extreme Value Theory (EVT)

Frigyes Ferdinand Heinz and Desislava Rusinova

20151817: Wealth effects on consumption across the wealth distribution: empirical evidence

Frédérique Savignac, Luc Arrondel and Pierre Lamarche

20151816: Conservatism and liquidity traps

Sebastian Schmidt and Taisuke Nakata

20151815: Spillovers and euroscepticism

Demosthenes Ioannou, Jean-Francois Jamet and Johannes Kleibl

20151814: VAR for VaR: measuring tail dependence using multivariate regression quantiles

Simone Manganelli, Halbert White and Tae-Hwan Kim

20151813: A new identification of fiscal shocks based on the information flow

Giovanni Ricco

20151812: The relationship between structural and cyclical features of the EU financial sector

Hanno Stremmel and Balázs Zsámboki

20151811: Capturing the financial cycle in Europe

Hanno Stremmel

20151810: Banking and currency crises: differential diagnostics for developed countries

Katerina Smidkova, Mark Joy, Marek Rusnák and Bořek Vašíček

20151809: Do banks’ overnight borrowing rates lead their CDS Price? Evidence from the Eurosystem

Esa Jokivuolle, Eero Tölö and Matti Virén

20151808: Has the publication of minutes helped markets to predict the monetary policy decisions of the Bank of England's MPC?

Alexander Jung and Makram El-Shagi

20151807: Does uncertainty affect participation in the European Central Bank's Survey of Professional Forecasters?

Víctor López Pérez

20151806: Will the true labor share stand up?

Peter McAdam, Jakub Mućk and Jakub Growiec

20151805: Credit market disequilibrium in Greece (2003-2011) - a Bayesian approach

Angelos Vouldis

20151804: Bank bailouts and competition - Did TARP distort competition among sound banks?

Michael Koetter and Felix Noth

20151803: The information content of money and credit for US activity

Franz Seitz, Ursel Baumann and Bruno Albuquerque

20151802: What has driven inflation dynamics in the Euro area, the United Kingdom and the United States

Marko Melolinna

20151801: The exchange rate, asymmetric shocks and asymmetric distributions

Filippo di Mauro and Calin-Vlad Demian

20151800: Unraveling the skill premium

Peter McAdam and Alpo Willman