Haku

In this paper we challenge the conventional view that increasing working time exibility limits the amplitude of unemployment fluctuations. We start by showing that hours per worker in European countries are much less ...

European banks have been criticized for holding excessive domestic government debt during economic downturns, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level ...

Since the Great Recession, the main evolution in monetary policy has been its attempts to affect the medium and the long-term interest rates with instruments other than the policy rate. Consequently, measuring the stance ...

Nopean inflaation vuoksi tilanne on vaikea. EKP:n neuvosto huolehtii siitä, että inflaatio palaa kahden prosentin tavoitteen mukaiseksi keskipitkällä aikavälillä. Inflaatio kiihtyi toukokuussa taas huomattavasti lähinnä ...

The recent financial crises have brought into focus questions regarding the quality of banks' assets. We study the patterns in banks reserving for and reporting of loan losses in the EU before and after implementation of ...

I estimate the effects of conventional and unconventional monetary policy in the euro area by using a factor-augmented vector autoregression.I complement the standard monetary policy analysis using the short rate with ...

The aim of this study is to explore budget planning in the euro area countries in 2004-2014. Our analyses are based on annual real-time data from the IMF World Economic Outlook publications. As forecasts made by different ...

This study examines aggregated short- and long-term inflation expectations in the unbalanced panel of the ECB Survey of Professional Forecasters. The focus of the study is on heterogeneity of expectations and changing panel ...

Energian hinnat ovat nousseet voimakkaasti euroalueella. Etenkin maakaasu ja sähkö ovat kallistuneet Venäjän hyökkäyssodan seurauksena. Energiakriisi voi vaikuttaa euroalueen talouskehitykseen pitkään. Euroalueen jäsenmaat ...