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.

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

2007840: Downward wage rigidity for different workers and firms: an evaluation for Belgium using the IWFP procedure

Catherine Fuss, Ladislav Wintr and Philip Du Caju

2007839: Are there oil currencies? The real exchange rate of oil exporting countries

Maurizio Michael Habib and Margarita Manolova Kalamova

2007838: Securitisation and the bank lending channel

Yener Altunbas, Leonardo Gambacorta and David Marques-Ibanez

2007837: Monetary policy and core inflation

Michele Lenza

2007836: Reporting biases and survey results: evidence from European professional forecasters

Andrés Manzanares and Garcí­a, Juan Angel

2007835: US shocks and global exchange rate configurations

Marcel Fratzscher

2007834: International frictions and optimal monetary policy cooperation: analytical solutions

Matthieu Darracq Paries

2007833: Explaining and forecasting euro area exports: which competitiveness indicator performs best?

Michele Ca' Zorzi and Bernd Schnatz

2007832: The yield curve and macroeconomic dynamics

Peter Hördahl, Oreste Tristani and David Vestin

2007831: Hierarchical Markov normal mixture models with applications to financial asset returns

Gianni Amisano and John Geweke

2007830: The term structure of euro area break-even inflation rates: the impact of seasonality

Jacob Ejsing, Garcí­a, Juan Angel and Thomas Werner

2007829: Modelling inflation in China - a regional perspective

Aaron Mehrotra, Tuomas Peltonen and Alvaro Santos Rivera

2007828: Potential output growth in several industrialised countries: a comparison

Christophe Cahn and Arthur Saint Guilhem

2007827: How is real convergence driving nominal convergence in the new EU Member States?

Sarah Lein, Carolin Nerlich and Miguel Leon-Ledesma

2007826: Risk sharing, finance and institutions in international portfolios

Marcel Fratzscher and Jean Imbs

2007825: What can probability forecasts tell us about inflation risks?

Garcí­a, Juan Angel and Andrés Manzanares

2007824: Evolving U.S. monetary policy and the decline of inflation predictability

Paolo Surico and Luca Benati

2007823: Modelling Ireland’s exchange rates: from EMS to EMU

Derek Bond, Michael J. Harrison and O’Brien, Edward

2007822: Exchange rate pass-through to trade prices: the role of non-linearities and asymmetries

Matthieu Bussiere

2007821: Social value of public information: testing the limits to transparency

Michael Ehrmann and Marcel Fratzscher

2007820: What do we really know about fiscal sustainability in the EU? A panel data diagnostic

Antonio Afonso and Christophe Rault

2007819: Proximity and linkages among coalition participants: a new voting power measure applied to the International Monetary Fund

Christian Thimann, Julien Reynaud and Lukasz Gatarek

2007818: Is time ripe for price level path stability?

Frank Smets, David Vestin and Gaspar, Ví­tor

2007817: Convergence and anchoring of yield curves in the euro area

Michael Ehrmann, Marcel Fratzscher, Eric Swanson and Refet Gürkaynak

2007816: The role of credit aggregates and asset prices in the transmission mechanism: a comparison between the euro area and the US

Sylvia Kaufmann and Maria Valderrama

2007815: Do international portfolio investors follow firms' foreign investment decisions?

Roberto De Santis and Paul Ehling

2007814: Choice of currency in bond issuance and the international role of currencies

Nikolaus Siegfried, Emilia Simeonova and Cristina Vespro

2007813: The role of the exchange rate for adjustment in boom and bust episodes

Ludger Schuknecht, Reiner Martin and Isabel Vansteenkiste

2007812: The uncovered return parity condition

Lorenzo Cappiello and Roberto De Santis

2007811: Instability and nonlinearity in the euro area Phillips curve

Livio Stracca, Alberto Musso and Dick van Dijk

2007810: Inflation persistence: euro area and new EU Member States

Michal Franta, Branislav Saxa and Katerina Smidkova

2007809: Is the New Keynesian Phillips curve flat?

Gernot Müller, Keith Kuester and Sarah Stölting

2007808: Model misspecification, the equilibrium natural interest rate and the equity premium

Oreste Tristani

2007807: Cross-border lending contagion in multinational banks

Alexis Derviz and Jiri Podpiera

2007806: State-dependency and firm-level optimization: a contribution to Calvo price staggering

Peter McAdam and Alpo Willman

2007805: The pricing of risk in European credit and corporate bond markets

Antje Berndt and Iulian Obreja

2007804: Growth accounting for the euro area: a structural approach

Alberto Musso and Tommaso Proietti

2007803: Optimal monetary policy in an estimated DSGE for the euro area

Stéphane Adjemian, Matthieu Darracq Paries and Stéphane Moyen

2007802: Investigating time-variation in the marginal predictive power of the yield spread

Luca Benati and Charles Goodhart

2007801: Uncovered interest parity at distant horizons: evidence on emerging economies & nonlinearities

Lorenzo Cappiello and Arnaud Mehl

2007800: Is the corporate bond market forward looking?

Jens Hilscher