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.
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- 2002198: Extracting risk neutral probability densities by fitting implied volatility smiles: some methodological points and an application to the 3M Euribor futures option prices

- Allan Bødskov Andersen and Tom Wagener
- 2002197: A model of the Eurosystem's operational framework for monetary policy implementation

- Christian Ewerhart
- 2002196: Bootstrapping autoregressions with conditional heteroskedasticity of unknown form

- Silvia Goncalves and Lutz Kilian
- 2002195: In-sample or out-of-sample tests of predictability: which one should we use?

- Atsushi Inoue and Lutz Kilian
- 2002194: Sensitivity analysis of volatility: a new tool for risk management

- Vladimiro Ceci, Simone Manganelli and Walter Vecchiato
- 2002193: Sustainability of public finances and automatic stabilisation under a rule of budgetary discipline

- Marín, José M.
- 2002192: Is the European Central Bank (and the United States Federal Reserve) predictable?

- Gabriel Perez Quiros and Jorge Sicilia
- 2002191: The fiscal costs of financial instability revisited

- Felix Eschenbach and Ludger Schuknecht
- 2002190: Monetary policy and the zero bound to interest rates: a review

- Tony Yates
- 2002189: Debt reduction and automatic stabilisation

- Paul Hiebert, Massimo Rostagno and Javier Pérez
- 2002188: Should central banks really be flexible?

- Hans Peter Grüner
- 2002187: A fiscal theory of sovereign risk

- Martín Uribe
- 2002186: Using money market rates to assess the alternatives of fixed vs. variable rate tenders: the lesson from 1989-1998 data for Germany

- Michele Manna
- 2002185: European integration: what lessons for other regions? The case of Latin America

- Ettore Dorrucci, Marcel Fratzscher, Francesco Mongelli and Stefano Firpo
- 2002184: Efficient pricing of large value interbank payment systems

- Cornelia Holthausen and Jean Rochet
- 2002183: Monetary policy in a world with different financial systems

- Ester Faia
- 2002182: The information content of real-time output gap estimates, an application to the euro area

- Gerhard Rünstler
- 2002181: Inflation dynamics and international linkages: a model of the United States, the euro area and Japan

- Volker Wieland and Günter Coenen
- 2002180: Regional inflation in a currency union: fiscal policy vs. fundamentals

- Margarida Duarte and Alexander Wolman
- 2002179: Optimal monetary policy with durable and non-durable goods

- Christopher Erceg and Andrew Levin
- 2002178: Inflation persistence and optimal monetary policy in the euro area

- Pierpaolo Benigno and David López-Salido
- 2002177: A theory of the currency denomination of international trade

- Eric Van Wincoop and Peter Backé
- 2002176: Macroeconomics of international price discrimination

- Giancarlo Corsetti and Luca Dedola
- 2002175: Monetary policy and the financial accelerator in a monetary union

- Simon Gilchrist, Jean-Olivier Hairault and Hubert Kempf
- 2002174: International monetary policy coordination and financial market integration

- Alan Sutherland
- 2002173: Openness and equilibrium determinacy under interest rate rules

- Fiorella De Fiore and Zheng Liu
- 2002172: Constructing quality-adjusted price indices: a comparison of hedonic and discrete choice models

- Nicole Jonker
- 2002171: An estimated stochastic dynamic general equilibrium model of the euro area

- Frank Smets and Raf Wouters
- 2002170: What measure of inflation should a central bank target?

- N. Gregory Mankiw and Ricardo Reis
- 2002169: Modeling model uncertainty

- Alexei Onatski and Noah Williams
- 2002168: Estimating the effects of fiscal policy in OECD countries

- Roberto Perotti
- 2002167: Identifying the effects of monetary policy shocks on exchange rates using high frequency data

- Jon Faust, John Rogers, Eric Swanson and Jonathan Wright
- 2002166: Monetary and fiscal policy interactions in a micro-founded model of a monetary union

- Henrik Jensen and Roel Beetsma
- 2002165: The industry effects of monetary policy in the euro area

- Gert Peersman and Frank Smets
- 2002164: Euro area corporate debt securities market: first empirical evidence

- Gabe de Bondt
- 2002163: The rationality of consumers' inflation expectations: survey-based evidence for the euro area

- Magnus Forsells and Geoff Kenny
- 2002162: Public debt asymmetries: the effect on taxes and spending in the European Union

- Signe Krogstrup
- 2002161: The optimal allocation of risks under prospect theory

- Livio Stracca
- 2002160: Model uncertainty and the equilibrium value of the real effective euro exchange rate

- Carsten Detken, Jerome Henry, Frank Smets, Alistair Dieppe and Carmen Marin
- 2002159: Optimal public money

- Cyril Monnet
- 2002158: Quantifying embodied technological change

- Plutarchos Sakellaris and Daniel Wilson
- 2002157: Bidding and performance in repo auctions: evidence from ECB open market operations

- Ulrich Bindseil, Kjell Nyborg and Ilya A. Strebulaev
- 2002156: Identifying endogenous fiscal policy rules for macroeconomic models

- Paul Hiebert and Javier Pérez
- 2002155: Youth unemployment in the OECD: demographic shifts, labour market institutions, and macroeconomic shocks

- Juan F Jimeno and Diego Rodriguez-Palenzuela
- 2002154: The Euro bloc, the Dollar bloc and the Yen bloc: how much monetary policy independence can exchange rate flexibility buy in an interdependent world?

- Marcel Fratzscher
- 2002153: Euro area production function and potential output: a supply side system approach

- Alpo Willman
- 2002152: Short-term monitoring of fiscal policy discipline

- Gonzalo Camba-Mendez and Ana Lamo
- 2002151: G-7 Inflation forecasts

- Fabio Canova
- 2002150: Equity and bond market signals as leading indicators of bank fragility

- Jukka Vesala, Giuseppe Vulpes and Reint Gropp
- 2002149: The Spanish block of the ESCB-multi-country model

- Angel Estrada and Alpo Willman
- 2002148: The functional form of yield curves

- Vincent Brousseau
- 2002147: Time-to-build approach in a sticky price, sticky wage optimizing monetary model

- Miguel Casares
- 2002146: Competition and stability: what's special about banking?

- Elena Carletti and Philipp Hartmann
- 2002145: Towards a new early warning system of financial crises

- Marcel Fratzscher and Matthieu Bussiere
- 2002144: A failure in the measurement of inflation: results from a hedonic and matched experiment using scanner data

- Saeed Heravi and Mick Silver
- 2002143: A nonparametric method for valuing new goods

- Laura Blow and Ian Crawford
- 2002142: Modelling the daily banknotes in circulation in the context of the liquidity management of the European Central Bank

- Alberto Cabrero Bravo, Gonzalo Camba-Mendez, Astrid Hirsch and Fernando Nieto
- 2002141: Asset prices and fiscal balances

- Felix Eschenbach and Ludger Schuknecht
- 2002140: Price setting and the steady-state effects of inflation

- Miguel Casares
- 2002139: On currency crises and contagion

- Marcel Fratzscher
- 2002138: "New" views on the optimum currency area theory: what is EMU telling us?

- Francesco Mongelli
- 2002137: Equilibrium bidding in the Eurosystem's open market operations

- Ulrich Bindseil
- 2002136: Retail bank interest rate pass-through: new evidence at the euro area level

- Gabe de Bondt
- 2002135: The optimal mix of taxes on money, consumption and income

- Fiorella De Fiore and Pedro Teles
- 2002134: The cost of private transportation in the Netherlands, 1992-1999

- Ben Bode and Jan Van Dalen
- 2002133: Can confidence indicators be useful to predict short term real GDP growth?

- Annabelle Mourougane and Moreno Roma
- 2002132: Inflation dynamics and dual inflation in accession countries: a 'New Keynesian' perspective

- Diego Rodriguez-Palenzuela, Christian Thimann and Peter Backé
- 2002131: Measurement bias in the HICP: what do we know, and what do we need to know?

- Diego Rodriguez-Palenzuela and Mark Wynne
- 2002130: Harmonized indexes of consumer prices: their conceptual foundations

- Walter Diewert
- 2002129: Non-standard central bank loss functions, skewed risks, and certainty equivalence

- Peter Backé and Livio Stracca
- 2002128: Openness, imperfect exchange rate pass-through and monetary policy

- Frank Smets and Raf Wouters
- 2002127: Performance of monetary policy with internal central bank forecasting

- Seppo Honkapohja and Kaushik Mitra
- 2002126: Optimal contracts in a dynamic costly state verification model

- Cyril Monnet and Erwan Quintin
- 2002125: Duration, volume and volatility impact of trades

- Simone Manganelli
- 2002124: Monetary policy, expectations and commitment

- George Evans and Seppo Honkapohja
- 2002123: Analysing and combining multiple credit assessments of financial institutions

- Evangelos Tabakis and Anna Vinci
- 2002122: New technologies and productivity growth in the euro area

- Focco Vijselaar and Peter Backé
- 2002121: Natural rate doubts

- Andreas Beyer and Roger Farmer
- 2002120: Learning stability in economics with heterogeneous agents

- Seppo Honkapohja and Kaushik Mitra
- 2002119: Monetary policy and the stock market in the euro area

- Nuno Cassola and Claudio Morana
- 2002118: Durable goods, price indexes and quality change: an application to automobile prices in Italy, 1988-1998

- Gian Maria Tomat
- 2002117: Hedonic house prices without characteristics: the case of new multiunit housing

- Olympia Bover and Pilar Velilla
- 2002116: Rent indices for housing in West Germany 1985 to 1998

- Johannes Hoffmann and Claudia Kurz
- 2002115: Monetary policy rules, macroeconomic stability and inflation: a view from the trenches

- Athanasios Orphanides
- 2002114: Monetary Transmission in the Euro Area: Where Do We Stand?

- Anil Kashyap, Benoit Mojon, Daniele Terlizzese and Peter Backé
- 2002113: Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications

- Charles Bean, Jens Larsen and Kalin Nikolov
- 2001112: Firm investment and monetary transmission in the euro area

- Jean-Bernard Chatelain, Andrea Generale, Ignacio Hernando, Philip Vermeulen and Ulf von Kalckreuth
- 2001111: Monetary transmission: empirical evidence from Luxembourg firm level data

- Patrick Lünnemann and Thomas Mathä
- 2001110: Does monetary policy have asymmetric effects? A look at the investment decisions of Italian firms

- Eugenio Gaiotti and Andrea Generale
- 2001109: Monetary transmission in Germany: new perspectives on financial constraints and investment spending

- Ulf von Kalckreuth
- 2001108: Credit channel and investment behaviour in Austria: a micro-econometric approach

- Maria Valderrama
- 2001107: The interest rate and credit channel in Belgium: an investigation with micro-level firm data

- Paul Butzen, Catherine Fuss and Philip Vermeulen
- 2001106: Investment, the cost of capital, and monetary policy in the nineties in France: a panel data investigation

- Jean-Bernard Chatelain and André Tiomo
- 2001105: Financial systems and the role of banks in monetary policy transmission in the euro area

- Michael Ehrmann, Leonardo Gambacorta, Jorge Martínez Pagés, Patrick Sevestre and Andreas Worms
- 2001104: Is there a bank lending channel of monetary policy in Greece? Evidence from bank level data

- Sophocles Brissimis, Nicos C. Kamberoglou and George T. Simigiannis
- 2001103: Bank-specific characteristics and monetary policy transmission: the case of Italy

- Leonardo Gambacorta
- 2001102: The bank lending channel of monetary policy: identification and estimation using Portuguese micro bank data

- Luísa Farinha and Carlos Marques
- 2001101: Monetary policy and bank lending in France: are there asymmetries?

- Claire Loupias, Frédérique Savignac and Patrick Sevestre
- 2001100: Transmission of monetary policy shocks in Finland: evidence from bank level data on loans

- Jukka Topi and Jouko Vilmunen
- 200199: Is there a bank lending channel of monetary policy in Spain?

- Ignacio Hernando and Jorge Martínez Pagés
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