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.

20141698: Margin regulation and volatility

Johannes Brumm, Felix Kubler, Michael Grill and Karl Schmedders

20141697: The growth impact of discretionary fiscal policy measures

Maria Grazia Attinasi and Alexander Klemm

20141696: A theory of pruning

Giovanni Lombardo and Harald Uhlig

20141695: Collateral imbalances in intra-european trade? Accounting for the difference between gross and value added trade balances

Robert Stehrer and Arne Nagengast

20141694: Term premia implications of macroeconomic regime changes

Giacomo Carboni

20141693: Logit price dynamics

James Costain and Anton Nakov

20141692: How fat is the top tail of the wealth distribution?

Philip Vermeulen

20141691: Crisis-proof services: Why trade in services did not suffer during the 2008-2009 collapse

Andrea Ariu

20141690: Household wealth in the euro area: the importance of intergenerational transfers, homeownership and house price dynamics

Thomas Mathä, Michael Ziegelmeyer and Alessandro Porpiglia

20141689: Oil prices, exchange rates and asset prices

Daniel Schneider, Ine Van Robays and Marcel Fratzscher

20141688: Central bank macroeconomic forecasting during the global financial crisis: the European Central Bank and Federal Reserve Bank of New York experiences

Luca Onorante, Lucia Alessi, Eric Ghysels, Simon Potter and Richard Peach

20141687: Banks' financial distress, lending supply and consumption expenditure

Reint Gropp, Evren Damar and Adi Mordel

20141686: Mutual assistance between Federal Reserve Banks, 1913-1960 as prolegomena to the TARGET2 debate

Arnaud Mehl, Barry Eichengreen, Livia Chitu and Gary Richardson

20141685: Consumer cash usage: a cross-country comparison with payment diary survey data

Tobias Schmidt, Helmut Stix, Kim Huynh, Anneke Kosse, Scott Schuh, John Bagnall and David Bounie

20141684: This is what's in your wallet... and how you use it

Tamás Briglevics and Scott Schuh

20141683: Migrants' choice of remittance channel: Do general payment habits play a role?

Anneke Kosse and Robert Vermeulen

20141682: Paying for payments: free payments and optimal interchange fees

Søren Korsgaard

20141681: Euro area external imbalances and the burden of adjustment

Filippo di Mauro and Francesco Pappadà

20141680: Verti-zontal differentiation in export markets

Francesco Di Comite, Jacques Thisse and Hylke Vandenbussche

20141679: Density characteristics and density forecast performance: a panel analysis

Geoff Kenny, Thomas Kostka and Federico Masera

20141678: Competition and bank risk: the effect of securitization and bank capital

Yener Altunbas, Michiel Van Leuvensteijn and David Marques-Ibanez

20141677: Mapping global value chains

Koen De Backer and Sébastien Miroudot

20141676: Does a leverage ratio requirement increase bank stability?

Ilkka Kiema and Esa Jokivuolle

20141675: The VIX, the variance premium and stock market volatility

Marie Hoerova and Geert Bekaert

20141674: ECB monetary policy surprises: identification through cojumps in interest rates

Tobias Linzert, Lars Winkelmann and Markus Bibinger

20141673: Micro and macro data: a comparison of the Household Finance and Consumption Survey with financial accounts in Austria

Peter Lindner and Michael Andreasch

20141672: Wealth differences across borders and the effect of real estate price dynamics: evidence from two household surveys

Thomas Mathä, Michael Ziegelmeyer and Alessandro Porpiglia

20141671: Economic surprises and inflation expectations: Has anchoring of expectations survived the crisis?

Magdalena Grothe and Søren Lejsgaard Autrup

20141670: Identifying hubs and spokes in global supply chains using redirected trade in value added

Arjan Lejour, Hugo Rojas-Romagosa and Paul Veenendaal

20141669: The international dimension of confidence shocks

Stephane Dees and Jochen Güntner

20141668: The effect of G20 summits on global financial markets

Livio Stracca and Marco Lo Duca

20141667: Rollover risk, liquidity, and macro-prudential regulation

Toni Ahnert

20141666: Measuring bilateral spillover and testing contagion on sovereign bond markets in Europe

Peter Claeys and Bořek Vašíček

20141665: Optimal level of government debt - matching wealth inequality and the fiscal sector

Edgar Vogel

20141664: Tax deferral and mutual fund inflows - evidence from a quasi-natural experiment

Pietro Tommasino, Giuseppe Cappelletti and Giovanni Guazzarotti

20141663: Net wealth across the euro area - why household structure matters and how to control for it

Pirmin Fessler, Peter Lindner and Esther Segalla

20141662: Wealth shocks, credit-supply shocks, and asset allocation: evidence from household and firm portfolios

Klaus Schaeck, Thomas Kick, Enrico Onali and Benedikt Ruprecht

20141661: Cross-border commuting and consuming: an empirical investigation

Thomas Mathä, Michael Ziegelmeyer and Alessandro Porpiglia

20141660: U.S. consumer demand for cash in the era of low interest rates and electronic payments

Scott Schuh and Tamás Briglevics

20141659: Wishful thinking or effective threat? tightening bank resolution regimes and bank risk-taking

Magdalena Ignatowski and Josef Korte

20141658: Commonality in hedge fund returns: driving factors and implications

Matthieu Bussiere, Marie Hoerova and Benjamin Klaus

20141657: The costs and beliefs impliedby direct stock ownership

Daniel Barth

20141656: Consumption inequality and family labor supply

Luigi Pistaferri, Richard Blundell and Itay Saporta-Eksten

20141655: The distribution of wealth and the marginal propensity to consume

Christopher Carroll, Jiri Slacalek and Kiichi Tokuoka

20141654: Sovereign credit ratings, market volatility, and financial gains

Antonio Afonso, Pedro Gomes and Abderrahim Taamouti

20141653: Fiscal activism and the zero nominal interest rate bound

Sebastian Schmidt

20141652: Macroeconomic experiences and risk taking of euro area households

Michael Ehrmann and Miguel Ampudia Fraile

20141651: Network effects, homogeneous goods and international currency choice: new evidence on oil markets from an older era

Arnaud Mehl, Barry Eichengreen and Livia Chitu

20141650: The euro plus pact: cost competitiveness and external capital flows in the EU countries

Hubert Gabrisch and Karsten Staehr

20141649: Global corporate bond issuance: what role for US quantitative easing?

Marco Lo Duca, Giulio Nicoletti and Ariadna Vidal Martinez

20141648: The Distribution of wealth and the MPC: implications of new European data

Christopher Carroll, Jiri Slacalek and Kiichi Tokuoka

20141647: External and macroeconomic adjustment in the larger euro area countries

Elena Angelini, Michele Ca' Zorzi and Katrin Forster

20141646: Modeling emergence of the interbank networks

Christoffer Kok and Grzegorz Halaj

20141645: Forward-looking reaction to bank regulation

Risto Herrala

20141644: Financial conditions index and credit supply shocks for the euro area

Matthieu Darracq Paries, Laurent Maurin and Diego Moccero

20141643: Has US household deleveraging ended? a model-based estimate of equilibrium debt

Ursel Baumann, Bruno Albuquerque and Georgi Krustev

20141642: A high frequency assessment of the ECB securities markets programme

Simone Manganelli, Julien Idier, Olivier Vergote and Eric Ghysels

20141641: Rational blinders: strategic selection of risk models and bank capital regulation

Jean-Edouard Colliard

20141640: What drives the market share changes? price versus non-price factors

Julia Wörz and Konstantins Benkovskis

20141639: The distribution of debt across euro area countries: the role of individual characteristics, institutions and credit conditions

Olympia Bover, Philip Du Caju, Panagiota Tzamourani, Ernesto Villanueva, Eva Sierminska, Yvonne McCarthy, Jose Casado, Sónia Costa and Tibor Zavadil

20141638: Central clearing and collateral demand

Martin Scheicher, Guillaume Vuillemey and Darrell Duffie

20141637: Characterizing very high uncertainty episodes

Martin Bijsterbosch and Pierre Guérin

20141636: The impact of monetary policy and exchange rate shocks in Poland: evidence from a time-varying VAR

Olga Arratibel and Henrike Michaelis

20141635: Does the federal reserve staff still beat private forecasters?

Alexander Jung, Makram El-Shagi and Sebastian Giesen

20141634: Micro-based evidence of EU competitiveness: the CompNet database

Emmanuel Dhyne, Davide Zurlo, Charlotte Sandoz-dit-Bragard, Bogdan Chiriacescu, Ana-Maria Cazacu, Tibor Lalinsky, Elena Biewen, Sven Blank, Philipp Meinen, Jan Hagemejer, Patry Tello, Antonio Rodríguez-Caloca, Urška Čede, Jaanika Meriküll, Stefania Rossetti, Emanuele Forlani, Filippo di Mauro, Antoine Berthou, Kamil Galuscak, Carlo Altomonte, Luca David Opromolla, João Amador, Ana Cristina Soares, Paloma Lopez-Garcia, Nicola Benatti, Chiara Angeloni, Matteo Bugamelli, D’Aurizio, Leandro, Giorgio Barba Navaretti and Péter Harasztosi

20141633: Buffer-stock saving in a Krusell-Smith world

Christopher Carroll, Jiri Slacalek and Kiichi Tokuoka

20141632: Anchoring the yield curve using survey expectations

Raffaella Giacomini, Carlo Altavilla and Giuseppe Ragusa

20141631: Household risk management and actual mortgage choice in the euro area

Michael Ehrmann and Michael Ziegelmeyer

20141630: Financial flexibility across the euro area and the UK

Annalisa Ferrando, Maria-Teresa Marchica and Roberto Mura

20141629: The impact of news and the SMP on realized (co)variances in the eurozone sovereign debt market

Massimo Giuliodori, Roel Beetsma, Frank de Jong and Daniel Widijanto

20141628: Cross-border production chains and business cycle co-movement between Central and Eastern European countries and euro area member states

Plamen Iossifov

20141627: Spatial dependence in commercial property prices: micro evidence from the Netherlands

Selin Özyurt

20131626: Observation driven mixed-measurement dynamic factor models with an application to credit risk

Bernd Schwaab, Siem Jan Koopman, Andre Lucas and Drew Creal

20131625: The pricing of sovereign risk and contagion during the European sovereign debt crisis

Marcel Fratzscher and John Beirne

20131624: Trade, productivity improvements and welfare: an endogenous market structure framework

Letizia Montinari

20131623: Market pricing of credit rating signals

Magdalena Grothe

20131622: Dealing with a liquidity trap when government debt matters: optimal time-consistent monetary and fiscal policy

Matthias Burgert and Sebastian Schmidt

20131621: Conditional and joint credit risk

Bernd Schwaab, Andre Lucas and Xin Zhang

20131620: The rise of China and India: blessing or curse for the advanced countries?

Livio Stracca

20131619: Micro and macro analysis on household income, wealth and saving in the euro area

Ilja Kristian Kavonius and Juha Honkkila

20131618: Growth, real exchange rates and trade protectionism since the financial crisis

Georgios Georgiadis and Johannes Gräb

20131617: Crowding-out or co-existence? the competitive position of EU members and China in global merchandise trade

Julia Wörz, Konstantins Benkovskis, Maria Silgoner and Katharina Steiner

20131616: Firms' export dynamics: experience vs. size

Antoine Berthou and Vincent Vicard

20131615: Fragmentation, incomes and jobs: an analysis of European competitiveness

Marcel Timmer, Bart Los, Robert Stehrer and Gaaitzen de Vries

20131614: On the measurement of foreign direct investment and its relationship to activities of multinational corporations

Konstantin Wacker

20131613: House price cycles in Europe

Alessandro Fontana and Stefano Corradin

20131612: Non-price competitiveness of exports from emerging countries

Julia Wörz and Konstantins Benkovskis

20131611: Bank reactions after capital shortfalls

Christoffer Kok and Glenn Schepens

20131610: Central bank collateral, asset fire sales, regulation and liquidity

Ulrich Bindseil

20131609: Foreign investors and risk shocks: seeking a safe haven or running for the exit?

Livio Stracca and Maurizio Michael Habib

20131608: Optimal control with heterogeneous agents in continuous time

Galo Nuño

20131607: Central bank refinancing, interbank markets and the hypothesis of liquidity hoarding: evidence from a euro-area banking system

Massimiliano Affinito

20131606: Credit constraints and investment in human capital: training evidence from transition economies

Alexander Popov

20131605: Is quantity theory still alive?

Pedro Teles and Harald Uhlig

20131604: Setting countercyclical capital buffers based on early warning models: would it work?

Carsten Detken, Tuomas Peltonen, Willem Schudel and Markus Behn

20131603: Competition in the Portuguese economy: insights from a profit elasticity approach

João Amador and Ana Cristina Soares

20131602: High frequency trading and price discovery

Jonathan Brogaard, Terrence Hendershott and Ryan Riordan

20131601: How do firms in Argentina get financing to export?

Tomás Castagnino, D’Amato, Laura and Máximo Sangiácomo

20131600: Granger-causal-priority and choice of variables in vector autoregressions

Marek Jarociński and Bartosz Maćkowiak

20131599: Disentangling the bond-CDS nexus: a stress test model of the CDS market

Tuomas Peltonen and Guillaume Vuillemey