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.

20222742: The ECB press conference: a textual analysis

Andrea Pavelkova

20222741: Gender diversity in bank boardrooms and green lending: evidence from euro area credit register data

Leonardo Gambacorta, Livia Pancotto, Alessio Reghezza and Martina Spaggiari

20222740: It’s not time to make a change: sovereign fragility and the corporate credit risk

Fabio Fornari and Andrea Zaghini

20222739: Foreign currency exposure and the financial channel of exchange rates

Pablo Anaya Longaric

20222738: LOLR policies, banks’ borrowing capacities and funding structures

Stefano Corradin and Suresh Sundaresan

20222737: Is the EU money market fund regulation fit for purpose? Lessons from the COVID-19 turmoil

Laura-Dona Capotă, Michael Grill, Luis Molestina Vivar, Niklas Schmitz and Christian Weistroffer

20222736: Consumer savings behaviour at low and negative interest rates

Marco Felici, Geoff Kenny and Roberta Friz

20222735: Digitalisation, institutions and governance, and growth: mechanisms and evidence

Vincent Labhard and Jonne Lehtimäki

20222734: Brexit, what Brexit? Euro area portfolio exposures to the United Kingdom since the Brexit referendum

Daniel Carvalho and Martin Schmitz

20222733: The anatomy of consumption in a household foreign currency debt crisis

Gyozo Gyongyosi, Judit Rariga and Emil Verner

20222732: How do banks manage liquidity? Evidence from the ECB’s tiering experiment

Luca Baldo, Florian Heider, Peter Hoffmann, Jean-David Sigaux and Olivier Vergote

20222731: Boosting carry with equilibrium exchange rate estimates

Michał Rubaszek, Joscha Beckmann, Michele Ca' Zorzi and Marek Kwas

20222730: A new optimum currency area index for the euro area

Davor Kunovac, Diego Rodriguez Palenzuela and Yiqiao Sun

20222729: Consumer payment preferences in the euro area

László Kajdi

20222728: Pricing of green bonds: drivers and dynamics of the greenium

Allegra Pietsch and Dilyara Salakhova

20222727: Deflationary financial shocks and inflationary uncertainty shocks: an SVAR Investigation

Roberto A. De Santis and Wouter Van der Veken

20222726: Will the green transition be inflationary? Expectations matter

Alessandro Ferrari and Valerio Nispi Landi

20222725: A sensitivities based CoVaR approach to assets commonality and its application to SSM banks

Leonardo Del Vecchio, Carla Giglio, Frances Shaw, Guido Spanò and Giuseppe Cappelletti

20222724: Financial exposure and bank mergers: micro and macro evidence from the EU

Laura Lebastard

20222723: Corrective regulation with imperfect instruments

Eduardo Davila and Ansgar Walther

20222722: Evaluating market risk from leveraged derivative exposures

Audrius Jukonis

20222721: Uncovering the network structure of non-centrally cleared derivative markets: evidences from regulatory data

Sebastiano Michele Zema

20222720: How to release capital requirements during a pandemic? Evidence from euro area banks

Cyril Couaillier, Alessio Reghezza, Rodriguez d’Acri, Costanza and Alessandro Scopelliti

20222719: Immigrants and the distribution of income and wealth in the euro area: first facts and implications for monetary policy

Maarten Dossche, Aleksandra Kolndrekaj, Maximilian Propst, Javier Ramos Perez and Jiri Slacalek

20222718: Making a virtue out of necessity: the effect of negative interest rates on bank cost efficiency

Giuseppe Avignone, Claudia Girardone, Cosimo Pancaro, Livia Pancotto and Alessio Reghezza

20222717: The impact of the COVID-19 shock on euro area potential output: a sectoral approach

Nicolò Bandera, Katalin Bodnár, Julien Le Roux and Béla Szörfi

20222716: Estimating the Euro Area output gap using multivariate information and addressing the COVID-19 pandemic

James Morley, Diego Rodriguez Palenzuela, Yiqiao Sun and Benjamin Wong

20222715: Counter-cyclical fiscal rules and the zero lower bound

Sebastian Hauptmeier, Christophe Kamps and Lucas Radke

20222714: Lower for longer under endogenous technology growth

Michaela Elfsbacka Schmöller and Martin Spitzer

20222713: The economics of central bank digital currency

Toni Ahnert, Katrin Assenmacher, Peter Hoffmann, Agnese Leonello, Cyril Monnet and Davide Porcellacchia

20222712: Can EU bonds serve as euro-denominated safe assets?

Tilman Bletzinger, William Greif and Bernd Schwaab

20222711: The certification role of the EU-wide stress testing exercises in the stock market. What can we learn from the stress tests (2014-2021)?

Agha Durrani, Steven Ongena and Aurea Marques

20222710: Government loan guarantees, market liquidity, and lending standards

Toni Ahnert and Martin Kuncl

20222709: The division of spoils in a booming industry

Alexander Popov

20222708: The relationship between central bank auctions and bill market liquidity

Joost Bats and Jurian J.A. Hoondert

20222707: Is the financial market driving income distribution? – An analysis of the linkage between income and wealth in Europe

Ilja Kristian Kavonius and Veli-Matti Törmälehto

20222706: Monetary policy transmission in segmented markets

Jens Eisenschmidt, Yiming Ma and Anthony Lee Zhang

20222705: Does the European Central Bank speak differently when in parliament?

Nicolò Fraccaroli, Alessandro Giovannini, Jean-Francois Jamet and Eric Persson

20222704: Funding deposit insurance

Dick Oosthuizen and Ryan Zalla

20222703: Did COVID-19 induce a reallocation wave?

Agostino Consolo and Filippos Petroulakis

20222702: Informing macroprudential policy choices using credit supply and demand decompositions

Claudio Barbieri, Cyril Couaillier, Cristian Perales and Rodriguez d’Acri, Costanza

20222701: Climate change mitigation: how effective is green quantitative easing?

Raphael Abiry, Marien Ferdinandusse, Alexander Ludwig and Carolin Nerlich

20222700: Cross-country cross-technology digitalisation: a Bayesian hierarchical model perspective

Charles Hoffreumon and Vincent Labhard

20222699: Explaining deviations from Okun’s law

Claudia Foroni and Francesco Furlanetto

20222698: Latent fragility: conditioning banks’ joint probability of default on the financial cycle

Paul Bochmann, Paul Hiebert, Yves Schüler and Miguel Segoviano

20222697: Preferred habitat and monetary policy through the looking-glass

Giacomo Carboni and Martin Ellison

20222696: The current account and monetary policy in the euro area

Tobias Schuler and Yiqiao Sun

20222695: Macroprudential regulation of investment funds

Giovanni di Iasio, Christoph Kaufmann and Florian Wicknig

20222694: Central Bank communication with the general public: promise or false hope?

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

20222693: Towards the holy grail of cross-border payments

Ulrich Bindseil and George Pantelopoulos

20222692: Contagion from market price impact: a price-at-risk perspective

Gábor Fukker, Michiel Kaijser, Luca Mingarelli and Matthias Sydow

20222691: Intensified competition and the impact on credit ratings in the RMBS market

Vivian M. van Breemen, Frank J. Fabozzi and Dennis Vink

20222690: The trade-off between public health and the economy in the early stage of the COVID-19 pandemic

Ivan Jaccard

20222689: The optimal quantity of CBDC in a bank-based economy

Lorenzo Burlon, Carlos Montes-Galdón, Manuel A. Muñoz and Frank Smets

20222688: Voluntary Support and Ring-Fencing in Cross-border Banks

Gyongyi Loranth, Anatoli Segura and Jing Zeng

20222687: Developing reconciled quarterly distributional national wealth – insight into inequality and wealth structures

Janina Engel, Pau Gayà Riera, Joseph Grilli and Pierre Sola

20222686: Financial Markets and Green Innovation

Philippe Aghion, Lena Boneva, Johannes Breckenfelder, Luc Laeven, Conny Olovsson, Alexander Popov and Elena Rancoita

20222685: Monetary policy & anchored expectations: an endogenous gain learning model

Laura Gáti

20222684: E pluribus plures: shock dependency of the USD pass-through to real and financial variables

Massimo Ferrari Minesso and Johannes Gräb

20222683: Job polarisation and household borrowing

Michele Cantarella and Ilja Kristian Kavonius

20222682: Targeted monetary policy, dual rates and bank risk taking

Francesca Barbiero, Lorenzo Burlon, Maria Dimou and Jan Toczynski

20222681: Tax thy neighbour: Corporate tax pass-through into downstream consumer prices in a monetary union

Luca Dedola, Chiara Osbat and Timo Reinelt

20222680: Product quality, measured inflation and monetary policy

Alexander Rodnyansky, Alejandro Van der Ghote and Daniel Wales

20222678: DSGE Nash: solving Nash games in macro models

Massimo Ferrari Minesso and Maria Sole Pagliari

20222677: Transition versus physical climate risk pricing in European financial markets: a text-based approach

Giovanna Bua, Daniel Kapp, Federico Ramella and Lavinia Rognone

20222676: How well-behaved are revisions to quarterly fiscal data in the euro area?

Krzysztof Bańkowski, Thomas Faria and Robert Schall

20222675: Digitalisation, Institutions and Governance, and Diffusion: Mechanisms and Evidence

Claudio Baccianti, Vincent Labhard and Jonne Lehtimäki

20222674: Organisational structure as a driver of mergers and acquisitions in the European banking sector

Laura Lebastard

20222673: The impact of credit supply shocks in the euro area: market-based financing versus loans

Kristina Barauskaite (Griskeviciene), Anh Nguyen, Linda Rousová and Lorenzo Cappiello

20222672: The shifts and the shocks: bank risk, leverage, and the macroeconomy

Dmitry Kuvshinov, Björn Richter and Kaspar Zimmermann

20222671: A model of system-wide stress simulation: market-based finance and the Covid-19 event

Giovanni di Iasio, Spyridon Alogoskoufis, Simon Kördel, Dominika Kryczka, Giulio Nicoletti and Nicholas Vause

20222670: Climate Change-Related Regulatory Risks and Bank Lending

Isabella Mueller and Eleonora Sfrappini

20222669: New facts on consumer price rigidity in the euro area

Erwan Gautier, Cristina Conflitti, Riemer P. Faber, Brian Fabo, Ludmila Fadejeva, Valentin Jouvanceau, Jan-Oliver Menz, Teresa Messner, Pavlos Petroulas, Pau Roldan-Blanco, Fabio Rumler, Sergio Santoro, Elisabeth Wieland and Hélène Zimmer

20222668: Liquidity coverage ratios and monetary policy credit in the time of Corona

Viktoriya Gocheva, Yvo Mudde and Jens Tapking

20222667: Temporal networks in the analysis of financial contagion

Fabio Franch, Luca Nocciola and Angelos Vouldis

20222666: One scheme fits all: a central fiscal capacity for the EMU targeting eurozone, national and regional shocks

Roel Beetsma, Jacopo Cimadomo and Josha van Spronsen

20222665: The double materiality of climate physical and transition risks in the euro area

Régis Gourdel, Irene Monasterolo, Nepomuk Dunz, Andrea Mazzocchetti and Laura Parisi

20222664: The rise in the cross-sectoral dispersion of earnings expectations during COVID-19

Joost Bats, William Greif and Daniel Kapp

20222663: Non-bank lending to mid-size firms in Europe: evidence from corporate securities

Olivier Darmouni and Melina Papoutsi

20222662: Payments and privacy in the digital economy

Toni Ahnert, Peter Hoffmann and Cyril Monnet

20222661: State-owned banks and international shock transmission

Marcin Borsuk, Oskar Kowalewski and Pawel Pisany

20222660: Instinctive versus reflective trust in the European Central Bank

Siria Angino and Stefania Secola

20222659: Financial cycles under diagnostic beliefs

Antoine Camous and Alejandro Van der Ghote

20222658: A Wake-Up Call Theory of Contagion

Toni Ahnert and Christoph Bertsch

20222657: A narrative database of labour market reforms in euro area economies

Romain Aumond, Valerio Di Tommaso and Gerhard Rünstler

20222656: Post-COVID fiscal rules: a central bank perspective

Sebastian Hauptmeier, Nadine Leiner-Killinger, Philip Muggenthaler and Stephan Haroutunian

20222655: Ideology and monetary policy: the role of political parties’ stances in the ECB’s parliamentary hearings

Nicolò Fraccaroli, Alessandro Giovannini, Jean-Francois Jamet and Eric Persson

20222654: Euro Area banks' sensitivity to changes in carbon price

Marco Belloni, Friderike Kuik and Luca Mingarelli

20222653: Wages, compositional effects and the business cycle

Styliani Christodoulopoulou and Omiros Kouvavas

20222652: Are fund managers rewarded for taking cyclical risks?

Ellen Ryan

20222651: Labour market skills, endogenous productivity and business cycles

Mirko Abbritti and Agostino Consolo

20222650: Does gender diversity in the workplace mitigate climate change?

Yener Altunbas, Leonardo Gambacorta, Alessio Reghezza and Giulio Velliscig

20222649: Money markets and bank lending: evidence from the adoption of tiering

Carlo Altavilla, Miguel Boucinha, Lorenzo Burlon, Mariassunta Giannetti and Julian Schumacher

20222648: A study on the EBA stress test results: influence of bank, portfolio, and country-level characteristics

Javier Hernández, Francisco Javier Población García, Nuria Suárez and Javier Tarancón

20222647: Monetary policy, macroprudential policy and financial stability

Luc Laeven, Angela Maddaloni and Caterina Mendicino

20222646: Supply or Demand: What Drives Fluctuations in the Bank Loan Market?

Carlo Altavilla, Miguel Boucinha and Paul Bouscasse

20222645: Liquidation value and loan pricing

Francesca Barbiero, Glenn Schepens and Jean-David Sigaux

20222644: Caution: do not cross! Capital buffers and lending in Covid-19 times

Cyril Couaillier, Marco Lo Duca, Alessio Reghezza and Rodriguez d’Acri, Costanza

20222643: Household spending and fiscal support during the COVID-19 pandemic: insights from a new consumer survey

Dimitris Georgarakos and Geoff Kenny

20222642: Making sense of consumer inflation expectations: the role of uncertainty

Lovisa Reiche and Aidan Meyler