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.

2006699: The behaviour of producer prices: some evidence from the French PPI micro data

Erwan Gautier

2006698: Optimal monetary policy rules with labor market frictions

Ester Faia

2006697: How wages change: micro evidence from the International Wage Flexibility Project

William T. Dickens, Lorenz Götte, Erica Groshen, Steinar Holden, Julian Messina, Mark Schweitzer, Jarkko Turunen and Melanie Ward-Warmedinger

2006696: What is global excess liquidity, and does it matter?

Rasmus Rüffer and Livio Stracca

2006695: Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy?

Helge Berger, Michael Ehrmann and Marcel Fratzscher

2006694: Optimal currency shares in international reserves: the impact of the euro and the prospects for the dollar

Elias Papaioannou, Richard Portes and Gregorios Siourounis

2006693: Evaluating China’s integration in world trade with a gravity model based benchmark

Bernd Schnatz and Matthieu Bussiere

2006692: Bayesian inference in cointegrated VAR models: with applications to the demand for euro area M3

Anders Warne

2006691: The yield curve as a predictor and emerging economies

Arnaud Mehl

2006690: Optimal simple monetary policy rules and non-atomistic wage setters in a New-Keynesian framework

Stefano Gnocchi

2006689: The effect of financial development on the investment cash flow relationship: cross-country evidence from Europe

Bo Becker and Jagadeesh Sivadasan

2006688: Determinants of workers' remittances: evidence from the European Neighbouring Region

Nikolaus Siegfried and Ioana Schiopu

2006687: Credit growth in Central and Eastern Europe: new (over)shooting stars?

Balázs Égert, Peter Backé and Tina Zumer

2006686: Stale information, shocks and volatility

Reint Gropp and Arjan Kadareja

2006685: Home bias in global bond and equity markets: the role of real exchange rate volatility

Michael Fidora, Marcel Fratzscher and Christian Thimann

2006684: Inflation dynamics and regime shifts

Julia Lendvai

2006683: Financial integration of new EU Member States

Lorenzo Cappiello, Bruno Gérard, Arjan Kadareja and Simone Manganelli

2006682: Is reversion to PPP in euro exchange rates non-linear?

Bernd Schnatz

2006681: Regional inflation dynamics within and across euro area countries and a comparison with the US

Kirstin Hubrich, Massimiliano Marcellino and Guenter Beck

2006680: Comparing alternative predictors based on large-panel factor models

Antonello D'Agostino and Domenico Giannone

2006679: Monetary policy in the media

Helge Berger, Michael Ehrmann and Marcel Fratzscher

2006678: The geography of international portfolio flows, international CAPM and the role of monetary policy frameworks

Roberto De Santis

2006677: What drives EU banks' stock returns? Bank-level evidence using the dynamic dividend-discount model

Olli Castrén, Trevor Fitzpatrick and Matthias Sydow

2006676: The distribution of contract durations across firms: a unified framework for understanding and comparing dynamic wage and price setting models

Huw Dixon

2006675: Expansionary fiscal consolidations in Europe: new evidence

Antonio Afonso

2006674: A quasi maximum likelihood approach for large approximate dynamic factor models

Catherine Doz, Domenico Giannone and Lucrezia Reichlin

2006673: Optimal monetary policy in the generalized Taylor economy

Engin Kara

2006672: Understanding inflation persistence: a comparison of different models

Huw Dixon and Engin Kara

2006671: Business cycle synchronisation in East Asia

Fabio Moneta and Rasmus Rüffer

2006670: The importance of being mature: the effect of demographic maturation on global per-capita GDP

Pablo Hernández de Cos and Rafael Gomez

2006669: Regular adjustment: theory and evidence

Fabio Rumler and Jerzy Konieczny

2006668: Declining valuations and equilibrium bidding in central bank refinancing operations

Christian Ewerhart, Nuno Cassola and Natacha Valla

2006667: The behaviour of the real exchange rate: evidence from regression quantiles

Kleopatra Nikolaou

2006666: Quantifying the impact of structural reforms

Ekkehard Ernst, Gang Gong, Willi Semmler and Lina Bukeviciute

2006665: The euro as invoicing currency in international trade

Annette Kamps

2006664: Fiscal convergence before entering the EMU

Luca Onorante

2006663: Monetary conservatism and fiscal policy

Klaus Adam and Roberto Billi

2006662: Cross-border bank contagion in Europe

Jukka Vesala, Reint Gropp and Marco Lo Duca

2006661: Fiscal policy in a monetary economy with capital and finite lifetime

Nicola Giammarioli, Barbara Annicchiarico and Alessandro Piergallini

2006660: The Italian block of the ESCB multi-country model

Elena Angelini, Peter McAdam and Antonello D'Agostino

2006659: Monetary policy rules in the pre-EMU era: Is there a common rule?

Dieter Gerdesmeier, Barbara Roffia and Maria Eleftheriou

2006658: The response of firms‘ investment and financing to adverse cash flow shocks: the role of bank relationships

Catherine Fuss and Philip Vermeulen

2006657: The impact of ECB monetary policy decisions and communication on the yield curve

Claus Brand, Jarkko Turunen and Daniel Buncic

2006656: Public debt and long-term interest rates: the case of Germany, Italy and the USA

Rolf Strauch, Paolo Paesani and Manfred Kremer

2006655: Fiscal and monetary policy in the enlarged European Union

Sabina Pogorelec

2006654: The German block of the ESCB multi-country model

Thomas Warmedinger and Igor Vetlov

2006653: Acquisition versus greenfield: the impact of the mode of foreign bank entry on information and bank lending rates

Sophie Claeys and Christa Hainz

2006652: Consumer price adjustment under the microscope: Germany in a period of low inflation

Johannes Hoffmann and Jeong-Ryeol Kurz-Kim

2006651: On the determinants of external imbalances and net international portfolio flows: a global perspective

Roberto De Santis and Melanie Lührmann

2006650: A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility

Gunther Schnabl and Eric Hillebrand

2006649: Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers

Leopold von Thadden and Campbell Leith

2006648: Firm-specific production factors in a DSGE model with Taylor price setting

Frank Smets, Raf Wouters and Grégory de Walque

2006647: The economic effects of exogenous fiscal shocks in Spain: a SVAR approach

Pablo Hernández de Cos and Francisco de Castro Fernández

2006646: The Dutch block of the ESCB multi-country model

Elena Angelini, Matteo Ciccarelli and Frédéric Boissay

2006645: Are internet prices sticky?

Patrick Lünnemann and Ladislav Wintr

2006644: Adaptive learning, persistence, and optimal monetary policy

Frank Smets, David Vestin and Gaspar, Ví­tor

2006643: Inflation forecast-based-rules and indeterminacy: a puzzle and a resolution

Peter McAdam, Paul Levine and Joseph Pearlman

2006642: Financing constraints and firms' cash policy in the euro area

Annalisa Ferrando and Rozália Pál

2006641: A factor risk model with reference returns for the US dollar and Japanese yen bond markets

Carlos Bernadell, Joachim Coche and Ken Nyholm

2006640: Employment stickiness in small manufacturing firms

Philip Vermeulen

2006639: Optimal monetary policy with uncertainty about financial frictions

Richhild Moessner

2006638: Detecting and predicting forecast breakdowns

Raffaella Giacomini and Barbara Rossi

2006637: Transparency, expectations, and forecasts

Andrew Bauer, Robert Eisenbeis, Daniel Waggoner and Tao Zha

2006636: Exchange rate stabilization in developed and underdeveloped capital markets

Viera Chmelarova and Gunther Schnabl

2006635: Identifying the role of labor markets for monetary policy in an estimated DSGE model

Tobias Linzert, Kai Christoffel and Keith Kuester

2006634: Expenditure reform in industrialised countries: a case study approach

Ludger Schuknecht, Sebastian Hauptmeier and Martin Heipertz

2006633: Nowcasting GDP and inflation: the real-time informational content of macroeconomic data releases

Domenico Giannone, Lucrezia Reichlin and David H. Small

2006632: Does information help recovering structural shocks from past observations?

Domenico Giannone and Lucrezia Reichlin

2006631: Which news moves the euro area bond market?

Magnus Andersson, Lars Jul Hansen and Szabolcs Sebestyén

2006630: Implications of monetary union for catching-up member states

Marcelo Sánchez

2006629: A market microstructure analysis of foreign exchange intervention

Paolo Vitale

2006628: Long-run money demand in the new EU Member States with exchange rate effects

Hans-Eggert Reimers, Barbara Roffia and Christian Dreger

2006627: Euro area banking sector integration: using hierarchical cluster analysis techniques

Christoffer Kok and Josep Maria Puigvert Gutiérrez

2006626: Financial integration, international portfolio choice and the European Monetary Union

Roberto De Santis and Bruno Gérard

2006625: Sectoral explanations of employment in Europe: the role of services

Melanie Ward-Warmedinger, Antonello D'Agostino and Roberta Serafini

2006624: Foreign reserves management subject to a policy objective

Joachim Coche, Ken Nyholm, Matti Koivu and Vesa Poikonen

2006623: Human capital, the structure of production, and growth

Elias Papaioannou and Antonio Ciccone

2006622: Short-term forecasts of euro area real GDP growth: an assessment of real-time performance based on vintage data

Marie Diron

2006621: Assessing predetermined expectations in the standard sticky-price model: a Bayesian approach

Peter Welz

2006620: Does fiscal policy matter for the trade account? A panel cointegration study

Christiane Nickel and Katja Funke

2006619: Cyclical inflation divergence and different labor market institutions in the EMU

Ester Faia and Alessia Campolmi

2006618: The patterns and determinants of price setting in the Belgian industry

Maarten Dossche and David Cornille

2006617: New survey evidence on the pricing behaviour of Luxembourg firms

Patrick Lünnemann and Thomas Mathä

2006616: Global financial transmission of monetary policy shocks

Michael Ehrmann and Marcel Fratzscher

2006615: Quantitative goals for monetary policy

Antonio Fatas, Ilian Mihov and Andrew Rose

2006614: Expenditure switching vs. real exchange rate stabilization: competing objectives for exchange rate policy

Charles Engel and Michael Devereux

2006613: Welfare-based monetary policy rules in an estimated DSGE model of the US economy

Douglas Laxton, Paolo Pesenti, Michel Juillard and Philippe Karam

2006612: Optimal fiscal and monetary policy in a medium-scale macroeconomic model

Stephanie Schmitt-Grohe and Martín Uribe

2006611: Monetary policy, determinacy, and learnability in the open economy

James Bullard and Eric Schaling

2006610: Real-time model uncertainty in the United States: the Fed from 1996-2003

Robert Tetlow and Brian Ironside

2006609: The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation

Willem Buiter

2006608: How does information affect the comovement between interest rates and exchange rates?

Marcelo Sánchez

2006607: Price setting behaviour in the Netherlands: results of a survey

Ad Stokman and Marco Hoeberichts

2006606: Measuring the importance of the uniform nonsynchronization hypothesis

Carlos Marques, Daniel Dias and João Santos Silva

2006605: (Un)Predictability and macroeconomic stability

Paolo Surico, Domenico Giannone and Antonello D'Agostino

2006604: A dynamic model of settlement

Cyril Monnet, Thorsten Koeppl and Ted Temzelides

2006603: Estimating multi-country VAR models

Fabio Canova and Matteo Ciccarelli

2006602: Job flow dynamics and firing restrictions: evidence from Europe

Julian Messina and Giovanna Vallanti

2006601: Excess burden and the cost of inefficiency in public services provision

Gaspar, Ví­tor and Antonio Afonso

2006600: A speed limit monetary policy rule for the euro area

Livio Stracca