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.

2006599: What effects is EMU having on the euro area and its member countries? An overview

Francesco Mongelli and Juan Vega

2006598: The impact of the euro on financial markets

Lorenzo Cappiello, Simone Manganelli, Peter Hördahl and Arjan Kadareja

2006597: Price setting and inflation persistence: did EMU matter?

Ignazio Angeloni, Matteo Ciccarelli and Luc Aucremanne

2006596: The effects of EMU on structural reforms in labour and product markets

Romain Duval and Jørgen Elmeskov

2006595: Trends and cycles in the euro area: how much heterogeneity and should we worry about it?

Domenico Giannone and Lucrezia Reichlin

2006594: The euro's trade effects

Richard Baldwin

2006593: Robustifying learnability

Robert Tetlow and Peter von zur Muehlen

2006592: Non-linear dynamics in the euro area demand for M1

Alessandro Calza and Andrea Zaghini

2006591: Cointegration in panel data with breaks and cross-section dependence

Anindya Banerjee and Josep Carrion-i-Silvestre

2006590: The pecking order of cross-border investment

Marcel Fratzscher and Christian Daude

2006589: Forecasting economic aggregates by disaggregates

David Hendry and Kirstin Hubrich

2006588: Rational inattention, inflation developments and perceptions after the euro cash changeover

Michael Ehrmann

2006587: Determinants of business cycle synchronisation across euro area countries

Uwe Böwer and Catherine Guillemineau

2006586: A method to generate structural impulse-responses for measuring the effects of shocks in structural macro models

Andreas Beyer and Roger Farmer

2006585: Are specific skills an obstacle to labor market adjustment? Theory and an application to the EU enlargement

Ana Lamo, Julian Messina and Etienne Wasmer

2006584: A new theory of forecasting

Simone Manganelli

2006583: Back to square one: identification issues in DSGE models

Fabio Canova and Luca Sala

2006582: What accounts for the changes in U.S. fiscal policy transmission?

Florin Bilbiie, Andre Meier and Gernot Müller

2006581: Public sector efficiency: evidence for new EU member states and emerging markets

Ludger Schuknecht, Vito Tanzi and Antonio Afonso

2006580: Bank interest rate pass-through in the euro area: a cross country comparison

Christoffer Kok and Thomas Werner

2006579: A disaggregated framework for the analysis of structural developments in public finances

Jana Kremer, Cláudia Rodrigues Braz, Teunis Brosens, Geert Langenus, Sandro Momigliano and Mikko Spolander

2006578: Forecasting ECB monetary policy: accuracy is (still) a matter of geography

Helge Berger, Michael Ehrmann and Marcel Fratzscher

2006577: Distortionary taxation, debt, and the price level

Andreas Schabert and Leopold von Thadden

2006576: Debt stabilizing fiscal rules

Philippe Michel, Jean-Pierre Vidal and Leopold von Thadden

2006575: Growth in euro area labour quality

Guido Schwerdt and Jarkko Turunen

2006574: Inflation convergence and divergence within the European Monetary Union

Fabio Busetti, Lorenzo Forni, Andrew Harvey and Fabrizio Venditti

2006573: Credit chains and the propagation of financial distress

Frédéric Boissay

2006572: Information, habits, and consumption behavior: evidence from micro data

Mika Kuismanen and Luigi Pistaferri

2006571: Are emerging market currency crises predictable? A test

Tuomas Peltonen

2006570: Household debt sustainability: what explains household non-performing loans? An empirical analysis

Laura Rinaldi and Alicia Sanchis-Arellano

2005569: Towards European monetary integration: the evolution of currency risk premium as a measure for monetary convergence prior to the implementation of currency unions

Fernando González and Simo Launonen

2005568: Exploring the international linkages of the euro area: a global VAR analysis

Stephane Dees, Filippo di Mauro, Mohammad Pesaran and Vanessa Smith

2005567: Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation

Marcelo Sánchez

2005566: Real versus financial frictions to capital investment

Nihal Bayraktar, Plutarchos Sakellaris and Philip Vermeulen

2005565: The timing of central bank communication

Michael Ehrmann and Marcel Fratzscher

2005564: Forecasting the central bank's inflation objective is a good rule of thumb

Marie Diron and Benoit Mojon

2005563: Sticky prices in the euro area: a summary of new micro evidence

Luis Alvarez, Philip Vermeulen, Harald Stahl, Roberto Sabbatini, Fernando Martins, Patrick Lünnemann, Hervé Le Bihan, Claudia Kwapil, Marco Hoeberichts, Emmanuel Dhyne and Jouko Vilmunen

2005562: The price setting behaviour of Portuguese firms: evidence from survey data

Fernando Martins

2005561: Price setting in German manufacturing: new evidence from new survey data

Harald Stahl

2005560: The determinants of "domestic" original sin in emerging market economies

Arnaud Mehl and Julien Reynaud

2005559: When did unsystematic monetary policy have an effect on inflation?

Benoit Mojon

2005558: Ricardian fiscal regimes in the European Union

Antonio Afonso

2005557: How should central banks communicate?

Michael Ehrmann and Marcel Fratzscher

2005556: The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Kai Christoffel and Tobias Linzert

2005555: Near-rational exuberance

George Evans, Seppo Honkapohja and James Bullard

2005554: Equilibrium and inefficiency in fixed rate tenders

Nuno Cassola, Christian Ewerhart and Natacha Valla

2005553: Global bond portfolios and EMU

Philip Lane

2005552: European Union enlargement and equity markets in accession countries

Tomas Dvorak and Richard Podpiera

2005551: Technological diversification

Miklós Koren and Silvana Tenreyro

2005550: Underwriter competition and gross spreads in the eurobond market

Michael G. Kollo

2005549: Eigenvalue filtering in VAR models with application to the Czech business cycle

Beneš, Jaromí­r and David Vavra

2005548: The link between interest rates and exchange rates: do contractionary depreciations make a difference?

Marcelo Sánchez

2005547: Bank finance versus bond finance: what explains the differences between US and Europe?

Fiorella De Fiore and Harald Uhlig

2005546: The natural real interest rate and the output gap in the euro area: a joint estimation

Julien Garnier and Björn-Roger Wilhelmsen

2005545: Trade integration of Central and Eastern European countries: lessons from a gravity model

Bernd Schnatz, Matthieu Bussiere and Jarko Fidrmuc

2005544: Forecasting the yield curve in a data-rich environment: a no-arbitrage factor-augmented VAR approach

Emanuel Mönch

2005543: Lending booms in the new EU Member States: will euro adoption matter?

Michal Brzoza-Brzezina

2005542: Liquidity and real equilibrium interest rates: a framework of analysis

Livio Stracca

2005541: Consumer price behaviour in Luxembourg: evidence from micro CPI data

Patrick Lünnemann and Thomas Mathä

2005540: Optimal discretionary policy and uncertainty about inflation persistence

Richhild Moessner

2005539: Inflation persistence and monetary policy design: an overview

Andrew Levin and Richhild Moessner

2005538: The price setting behaviour of Spanish firms: evidence from survey data

Ignacio Hernando and Luis Alvarez

2005537: Global inflation

Matteo Ciccarelli and Benoit Mojon

2005536: Heterogeneity in consumer price stickiness: a microeconometric investigation

Patrick Sevestre, Hervé Le Bihan and Denis Fougere

2005535: The pricing behaviour of firms in the euro area: new survey evidence

Silvia Fabiani, Harald Stahl, Claudia Kwapil, Martine Druant, Ad Stokman, Bettina Landau, Roberto Sabbatini, Thomas Mathä, Claire Loupias, Ignacio Hernando and Fernando Martins

2005534: Time-dependent or state-dependent price setting? Micro-evidence from German metal-working industries

Harald Stahl

2005533: Discretionary policy, multiple equilibria, and monetary instruments

Andreas Schabert

2005532: Intra- and extra-euro area import demand for manufactures

Robert Anderton, Frauke Skudelny, Badi Baltagi and Nuno Sousa

2005531: Market power, innovative activity and exchange rate pass-through in the euro area

Sophocles Brissimis and Theodora Kosma

2005530: Cross-dynamics of volatility term structures implied by foreign exchange options

Sami Vähämaa, Elizaveta Krylova and Jussi Nikkinen

2005529: Explaining exchange rate dynamics: the uncovered equity return parity condition

Lorenzo Cappiello and Roberto De Santis

2005528: How successful are exchange rate communication and interventions? Evidence from time-series and event-study approaches

Marcel Fratzscher

2005527: Banking system stability: a cross-Atlantic perspective

Philipp Hartmann, Stefan Straetmans and Casper de Vries

2005526: On some fiscal effects on mortgage debt growth in the EU

Guido Wolswijk

2005525: Distilling co-movements from persistent macro and financial series

Karim Abadir and Gabriel Talmain

2005524: Price setting in the euro area: some stylized facts from individual consumer price data

Johannes Hoffmann, Giovanni Veronese, Luis Alvarez, Hervé Le Bihan, Daniel Dias, Emmanuel Dhyne, Jouko Vilmunen, Patrick Lünnemann, Nicole Jonker and Fabio Rumler

2005523: How frequently do consumer prices change in Austria? Evidence from micro CPI data

Josef Baumgartner, Ernst Glatzer, Fabio Rumler and Alfred Stiglbauer

2005522: Price setting behaviour in Spain: evidence from micro PPI data

Ignacio Hernando, Luis Alvarez and Pablo Burriel

2005521: Inflation persistence in structural macroeconomic models (RG10)

Robert-Paul Berben, Ricardo Mestre, Theo Mitrakos, Julian Morgan and Nikolaos G. Zonzilos

2005520: Delegated portfolio management: a survey of the theoretical literature

Livio Stracca

2005519: Non-Keynesian effects of fiscal contraction in new member states

Andrzej Rzońca and Piotr Ciżkowicz

2005518: Term structure and the sluggishness of retail bank interest rates in euro area countries

Benoit Mojon, Natacha Valla and Gabe de Bondt

2005517: Credit ratings and the standardised approach to credit risk in Basel II

Patrick Van Roy

2005516: The European Monetary Union as a commitment device for new EU member states

Federico Ravenna

2005515: An international analysis of earnings, stock prices and bond yields

Alain Durré and Pierre Giot

2005514: Gains from international monetary policy coordination: does it pay to be different?

Zheng Liu and Evi Pappa

2005513: Does government spending crowd in private consumption? Theory and empirical evidence for the euro area

Günter Coenen and Roland Straub

2005512: Counterfeiting and inflation

Cyril Monnet

2005511: Time or state dependent price setting rules? Evidence from Portuguese micro data

Carlos Marques, Daniel Dias and João Santos Silva

2005510: Factor analysis in a New-Keynesian model

Andreas Beyer, Roger Farmer, Jerome Henry and Massimiliano Marcellino

2005509: Productivity shocks, budget deficits and the current account

Marcel Fratzscher, Gernot Müller and Matthieu Bussiere

2005508: Systemic risk in alternative payment system designs

Peter Galos and Kimmo Soramäki

2005507: Incorporating a "public good factor" into the pricing of large-value payment systems

Cornelia Holthausen and Jean Rochet

2005506: Settlement finality as a public good in large-value payment systems

David Humphrey and Henri Pagès

2005505: Public good issues in TARGET: natural monopoly, scale economies, network effects and cost allocation

Wilko Bolt and David Humphrey

2005504: Monetary policy predictability in the euro area: an international comparison

Andrea Zaghini and Björn-Roger Wilhelmsen

2005503: World trade and global integration in production processes: a re-assessment of import demand equations

Ray Barrell and Stephane Dees

2005502: Fiscal and monetary rules for a currency union

Andrea Ferrero

2005501: Measuring comovements by regression quantiles

Lorenzo Cappiello, Simone Manganelli and Bruno Gérard

2005500: Fleshing out the monetary transmission mechanism: output composition and the role of financial frictions

Gernot Müller and Andre Meier