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.

2008940: The effect of durable goods and ICT on euro area productivity growth?

Jukka Jalava and Ilja Kristian Kavonius

2008939: An application of index numbers theory to interest rates

Javier Huerga and Lucia Steklacova

2008938: Channels of international risk-sharing: capital gains versus income flows

Thierry Bracke and Martin Schmitz

2008937: Should quarterly government finance statistics be used for fiscal surveillane in Europe?

Javier Pérez and Diego J. Pedregal

2008936: Sparse and stable Markowitz portfolios

Domenico Giannone, Christine De Mol, Joshua Brodie, Ingrid Daubechies and Ignace Loris

2008935: Fiscal policies, the current account and Ricardian equivalence

Isabel Vansteenkiste and Christiane Nickel

2008934: Bank mergers and lending relationships

Judit Montoriol-Garriga

2008933: Import price dynamics in major advanced economies and heterogeneity in exchange rate pass-through

Stephane Dees, Matthias Burgert and Nicolas Parent

2008932: How does competition affect efficiency and soundness in banking? New empirical evidence

Klaus Schaeck and Martin Cihak

2008931: International stock return comovements

Geert Bekaert, Robert J. Hodrick and Xiaoyan Zhang

2008930: Sticky information Phillips curves: European evidence

Jiri Slacalek, Jörg Döpke, Jonas Dovern and Ulrich Fritsche

2008929: Real convergence in Central and Eastern European EU Member States: which role for exchange rate volatility?

Olga Arratibel, Reiner Martin and Davide Furceri

2008928: Corporate tax competition and the decline of public investment

Pedro Gomes and Francois Pouget

2008927: Monetary stabilisation in a currency union of small open economies

Marcelo Sánchez

2008926: Euro area money demand and international portfolio allocation: a contribution to assessing risks to price stability

Roberto De Santis, Carlo Favero and Barbara Roffia

2008925: Flow of conjunctural information and forecast of euro area economic activity

Laurent Maurin and Katja Drechsel

2008924: Government spending volatility and the size of nations

Davide Furceri and Marcos Poplawski Ribeiro

2008923: Resuscitating the wage channel in models with unemployment fluctuations

Kai Christoffel and Keith Kuester

2008922: A review of nonfundamentalness and identification in structural VAR models

Lucia Alessi, Matteo Barigozzi and Marco Capasso

2008921: Foreign direct investment and environmental taxes

Roberto De Santis and Frank Stähler

2008920: An investigation on the effect of real exchange rate movements on OECD bilateral exports

Antoine Berthou

2008919: Fiscal policy in real time

Jacopo Cimadomo

2008918: Imports and profitability in the euro area manufacturing sector: the role of emerging market economies

Tuomas Peltonen, Martin Skala, Alvaro Santos Rivera and Gabor Pula

2008917: Modelling and Forecasting the Yield Curve under Model uncertainty

Paola Donati and Francesco Donati

2008916: Optimal reserve composition in the presence of sudden stops: the euro and the dollar as safe haven currencies

Roland Beck and Ebrahim Rahbari

2008915: Medium run redux: technical change, factor shares and frictions in the euro area

Peter McAdam and Alpo Willman

2008914: Evolution and sources of manufacturing productivity growth: evidence from a panel of European countries

Silvia Giannangeli and Ramón Gómez-Salvador

2008913: Country and industry equity risk premia in the euro area: an intertemporal approach

Lorenzo Cappiello, Angela Maddaloni and Marco Lo Duca

2008912: Labour cost and employment across euro area countries and sectors

Beatrice Pierluigi and Moreno Roma

2008911: Global liquidity glut or global savings glut? A structural VAR approach

Michael Fidora and Thierry Bracke

2008910: How has CDO market pricing changed during the turmoil? Evidence from CDS index tranches

Martin Scheicher

2008909: Repo markets, counterparty risk and the 2007/2008 liquidity crisis

Christian Ewerhart and Jens Tapking

2008908: 3-step analysis of public finances sustainability: the case of the European Union

Antonio Afonso and Christophe Rault

2008907: Globalisation and the euro area: simulation based analysis using the New Area Wide Model

Roland Straub and Pascal Jacquinot

2008906: The impact of the euro on equity markets: a country and sector decomposition

Lorenzo Cappiello, Simone Manganelli and Arjan Kadareja

2008905: A persistence-weighted measure of core inflation in the euro area

Livio Stracca and Laurent Bilke

2008904: Does money matter in the IS curve? The case of the UK

Barry Jones and Livio Stracca

2008903: A robust criterion for determining the number of static factors in approximate factor models

Lucia Alessi, Matteo Barigozzi and Marco Capasso

2008902: Fiscal consolidation in the euro area: long-run benefits and short-run costs

Matthias Mohr, Roland Straub and Günter Coenen

2008901: The usefulness of infra-annual government cash budgetary data for fiscal forecasting in the euro area

Luca Onorante, Diego J. Pedregal, Javier Pérez and Sara Signorini

2008900: Forecasting inflation and tracking monetary policy in the euro area: does national information help?

Fabrizio Venditti, Riccardo Cristadoro and Giuseppe Saporito

2008899: Robust monetary rules under unstructured and structured model uncertainty

Paul Levine

2008898: Central Bank communication and monetary policy: a survey of theory and evidence

Alan Blinder, Michael Ehrmann, Marcel Fratzscher, Jakob de Haan and David-Jan Jansen

2008897: DSGE-Modelling: when agents are imperfectly informed

Paul De Grauwe

2008896: The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries

Anna Lipinska

2008895: On the empirical evidence of the intertemporal current account model for the euro area countries

Michele Ca' Zorzi and Michał Rubaszek

2008894: The role of country-specific trade and survey data in forecasting euro area manufacturing production: perspective from large panel factor models

Matthieu Darracq Paries and Laurent Maurin

2008893: Sticky wages: evidence from quarterly microeconomic data

Thomas Heckel, Hervé Le Bihan and Jérémi Montornes

2008892: Identification of new Keynesian Phillips Curves from a global perspective

Stephane Dees, Mohammad Pesaran, Vanessa Smith and Ron P. Smith

2008891: House Prices and the stance of Monetary Policy

Frank Smets and Marek Jarociński

2008890: Globalisation, domestic inflation and global output gaps: Evidence from the euro area

Alessandro Calza

2008889: Credit and the natural rate of interest

Fiorella De Fiore and Oreste Tristani

2008888: House Prices, Money, Credit and the Macroeconomy

Charles Goodhart and Boris Hofmann

2008887: Labor supply after transition: evidence from the Czech Republic

Alena Bičáková, Jiri Slacalek and Michal Slavík

2008886: International evidence on sticky consumption growth

Christopher Carroll, Jiri Slacalek and Martin Sommer

2008885: Impact of bank competition on the interest rate pass-through in the euro area

Michiel Van Leuvensteijn, Christoffer Kok, Jacob Bikker and Adrian Rixtel

2008884: A quantitative perspective on optimal monetary policy cooperation between the US and the euro area

Stéphane Adjemian, Matthieu Darracq Paries and Frank Smets

2008883: Assessing the benefits of international portfolio diversification in bonds and stocks

Roberto De Santis and Lucio Sarno

2008882: Forecasting world trade: direct versus "bottom-up" approaches

Stephane Dees and Matthias Burgert

2008881: Imperfect predictability and mutual fund dynamics. How managers use predictors in changing systematic risk

Gianni Amisano and Roberto Savona

2008880: On policy interactions among nations: when do cooperation and commitment matter?

Hubert Kempf and Leopold von Thadden

2008879: Government risk premiums in the bond market: EMU and Canada

Ludger Schuknecht, Juergen von Hagen and Guido Wolswijk

2008878: Nominal and real interest rates during an optimal disinflation in New Keynesian models

Marcus Hagedorn

2008877: What are the effects of fiscal policy shocks? A VAR-based comparative analysis

Dario Caldara and Christophe Kamps

2008876: Are sectoral stock prices useful for predicting euro area GDP?

Magnus Andersson and Antonello D'Agostino

2008875: Global macro-financial shocks and expected default frequencies in the euro area

Olli Castrén, Stephane Dees and Fadi Zaher

2008874: How arbitrage-free is the Nelson-Siegel Model?

Laura Coroneo, Ken Nyholm and Rositsa Vidova-Koleva

2008873: The Feldstein-Horioka fact

Domenico Giannone and Michele Lenza

2008872: Why do Europeans work part-time? A cross-country panel analysis

Hielke Buddelmeyer, Gilles Mourre and Melanie Ward-Warmedinger

2008871: The impact of capital flows on domestic investment in transition economies

Elitza Mileva

2008870: Risk Management in Action. Robust monetary policy rules under structured uncertainty

Paul Levine, Peter McAdam, Richard Pierse and Joseph Pearlman

2008869: The reserve fulfilment path of euro area commercial banks: empirical testing using panel data

Nuno Cassola

2008868: Purdah: on the rationale for central bank silence around policy meetings

Michael Ehrmann and Marcel Fratzscher

2008867: Do monetary indicators lead euro area inflation?

Boris Hofmann

2008866: VAR analysis and the Great Moderation

Luca Benati and Paolo Surico

2008865: Explaining the Great Moderation: it is not the shocks

Domenico Giannone, Michele Lenza and Lucrezia Reichlin

2008864: Macroeconomic rates of return of public and private investment: crowding-in and crowding-out effects

Antonio Afonso and Miguel Aubyn

2008863: Population ageing and public pension reforms in a small open economy

Christiane Nickel, Philipp Rother and Angeliki Theophilopoulou

2008862: Stock market volatility and learning

Klaus Adam, Albert Marcet and Juan Pablo Nicolini

2008861: Income distribution determinants and public spending efficiency

Antonio Afonso, Ludger Schuknecht and Vito Tanzi

2008860: Oil shocks and endogenous markups: results from an estimated euro area DSGE model

Marcelo Sánchez

2008859: Assessing the compensation for volatility risk implicit in interest rate derivatives

Fabio Fornari

2008858: International transmission and monetary policy cooperation

Günter Coenen, Giovanni Lombardo, Frank Smets and Roland Straub

2008857: Housing and equity wealth effects of Italian households

Tuomas Peltonen and Charles Grant

2008856: Markups in the euro area and the US over the period 1981-2004: a comparison of 50 sectors

Rebekka Christopoulou and Philip Vermeulen

2008855: Assessing the factors behind oil price changes

Stephane Dees, Audrey Gasteuil, Robert Kaufmann and Michael Mann

2008854: How do firms adjust their wage bill in Belgium? A decomposition along the intensive and extensive margins

Catherine Fuss

2008853: The cyclical behavior of equilibrium unemployment and vacancies revisited

Marcus Hagedorn and Iourii Manovskii

2008852: Determinants of economic growth: will data tell?

Antonio Ciccone and Marek Jarociński

2008851: Investigating inflation persistence across monetary regimes

Luca Benati

2008850: Statistical tests and estimators of the rank of a matrix and their applications in econometric modelling

Gonzalo Camba-Mendez and George Kapetanios

2008849: Government size, composition, volatility and economic growth

Antonio Afonso and Davide Furceri

2008848: Economic growth and budgetary components: a panel assessment for the EU

Antonio Afonso and Juan González Alegre

2007847: Deeper, wider and more competitive? Monetary integration, Eastern enlargement and competitiveness in the European Union

Gianmarco Ottaviano, Daria Taglioni and Filippo di Mauro

2007846: Information combination and forecast (st)ability evidence from vintages of time-series data

Matteo Ciccarelli and Carlo Altavilla

2007845: Run-prone banking and asset markets

Marie Hoerova

2007844: Business cycle synchronization and insurance mechanisms in the EU

Antonio Afonso and Davide Furceri

2007843: Fiscal forecasting: lessons from the literature and challenges

Teresa Leal, Javier Pérez, Mika Tujula and Jean-Pierre Vidal

2007842: Saving behaviour and global imbalances: the role of emerging market economies

Gianluigi Ferrucci and Cesar Miralles

2007841: Should we take inside money seriously?

Livio Stracca