Selected journal publications by ECB staff

Allen, F., Carletti, E., Goldstein, I. and Leonello, A. (2018) "Government guarantees and financial stability", Journal of Economic Theory, Vol. 177C, pp. 518-557.

Augustin, P., Boustanifar, H., Breckenfelder, J. and Schnitzler, J. (2018) "Sovereign to Corporate Risk Spillovers", Journal of Money, Credit and Banking, Vol. 50, No 5, pp. 857-891.

Chamon, M., Schumacher, J. and Trebesch, C. (2018) "Foreign-law bonds: Can they reduce sovereign borrowing costs?", Journal of International Economics, Vol. 114C, pp. 164-179.

Cooper, R. and Nikolov, K. (2018) "Government Debt And Banking Fragility: The Spreading Of Strategic Uncertainty", International Economic Review, Vol. 59, No 4, pp. 1905-1925.

De Santis, R. A. and Zimic, S. (2018) “Spillovers among sovereign debt markets: Identification by absolute magnitude restrictions”, Journal of Applied Econometrics, Vol. 33, pp. 727-747.

Dvir, E. and Strasser, G. (2018) "Does marketing widen borders? Cross-country price dispersion in the European car market", Journal of International Economics, Vol. 112C, pp. 134-149.

Finocchiaro, D., Lombardo, G., Mendicino, C. and Weil, P. (2018) "Optimal inflation with corporate taxation and financial constraints", Journal of Monetary Economics, Vol. 95C, pp. 18-31.

Foroni, C., Furlanetto, F. and Lepetit, A. (2018) "Labor Supply Factors And Economic Fluctuations", International Economic Review, Vol. 59, No 3, pp. 1491-1510.

Jaccard, I. (2018). “Asset Pricing and the Propagation of Macroeconomic Shocks”, Journal of the European Economic Association, Vol. 16, No 2, pp. 436–486.

Jarociński, M. and Lenza, M. (2018) "An Inflation‐Predicting Measure of the Output Gap in the Euro Area", Journal of Money, Credit and Banking, Vol. 50, No 6, pp. 1189-1224.

Jarociński, M. and Maćkowiak, B. (2018) "Monetary-fiscal interactions and the euro area's malaise", Journal of International Economics, Vol. 112C, pp. 251-266.

Lane, P. R. and Stracca, L. (2018) "Can appreciation be expansionary? Evidence from the euro area", Economic Policy, Vol. 33, No 94, pp. 225-264.

Maćkowiak, B. and Wiederholt, M. (2018) “Lack of Preparation for Rare Events”, Journal of Monetary Economics, Vol. 100, pp. 35-47.

Maćkowiak, B., Matĕjka, F. and Wiederholt, M. (2018) “Dynamic Rational Inattention: Analytical Results”, Journal of Economic Theory, Vol. 176, pp. 650-692.

Mendicino, C., Nikolov, K., Suarez, J. and Supera, D. (2018) "Optimal Dynamic Capital Requirements", Journal of Money, Credit and Banking, Vol. 50, No 6, pp. 1271-1297.

Pasricha, G. K., Falagiarda, M., Bijsterbosch, M. and Aizenman, J. (2018) "Domestic and multilateral effects of capital controls in emerging markets", Journal of International Economics, Vol. 115C, pp. 48-58.

Popov, A. and Rocholl, J. (2018) "Do credit shocks affect labor demand? Evidence for employment and wages during the financial crisis", Journal of Financial Intermediation, Vol. 36C, pp. 16-27.

Albertazzi, U., Bottero, M. and Sene, G. (2017) "Information externalities in the credit market and the spell of credit rationing", Journal of Financial Intermediation, Vol. 30C, pp. 61-70.

Altavilla, C. and Giannone, D. (2017) "The Effectiveness of Non‐Standard Monetary Policy Measures: Evidence from Survey Data", Journal of Applied Econometrics, Vol. 32, No 5, pp. 952-964.

Altavilla, C., Domenico, G. and Modugno, M. (2017) "Low frequency effects of macroeconomic news on government bond yields", Journal of Monetary Economics, Vol. 92C, pp. 31-46.

Altavilla, C., Giacomini, R. and Ragusa, G. (2017) "Anchoring the yield curve using survey expectations", Journal of Applied Econometrics, Vol. 32, No 6, pp. 1055-1068.

Altunbas, Y., Manganelli, S. and Marques-Ibanez, D. (2017) "Realized bank risk during the great recession", Journal of Financial Intermediation, Vol. 32C, pp. 29-44.

Assenmacher, K. and Juselius, K. (2017) "Real exchange rate persistence and the excess return puzzle: The case of Switzerland versus the US", Journal of Applied Econometrics, Vol. 32, No 6, pp. 1145-1155.

Behn, M., Detken, C., Peltonen, T. and Willem Schudel, W. (2017) "Predicting Vulnerabilities in the EU Banking Sector: The Role of Global and Domestic Factors", International Journal of Central Banking, Vol. 13, No 4, pp. 147-189.

Blinder, A., de Haan, J., Ehrmann, M. and Jansen, D-j. (2017) "Necessity as the mother of invention: monetary policy after the crisis", Economic Policy, Vol. 32, No 92, pp. 707-755.

Brunnermeier, M. K., Langfield, S., Pagano, M., Reis, R., Van Nieuwerburgh, S. and Vayanos, D. (2017) "ESBies: safety in the tranches", Economic Policy, Vol. 32, No 90, pp. 175-219.

Busch, P. and Obernberger, S. (2017) “Actual Share Repurchases, Price Efficiency, and the Information Content of Stock Prices”, The Review of Financial Studies, Vol. 30, Issue 1, pp. 324–362.

Ca’ Zorzi, M., Kolasa, M. and Rubaszek, M. (2017) "Exchange rate forecasting with DSGE models", Journal of International Economics, Vol. 107C, pp. 127-146.

Caldara, D. and Kamps, C. (2017) "The Analytics of SVARs: A Unified Framework to Measure Fiscal Multipliers", Review of Economic Studies, Vol. 84, No 3, pp. 1015-1040.

Carroll, C., Slacalek, J., Tokuoka, K. an White, M. (2017) "The Distribution of Wealth and the Marginal Propensity to Consume", Quantitative Economics, Vol. 8, Issue 3, pp. 977-1020.

Christoffel, K., Coenen, G. and Warne. A. (2017) "Marginalized Predictive Likelihood Comparisons of Linear Gaussian State‐Space Models with Applications to DSGE, DSGE‐VAR, and VAR Models", Journal of Applied Econometrics, Vol. 32, No 1, pp. 103-119.

Christopoulos, D. and McAdam, P. (2017) "On the Persistence of Cross‐Country Inequality Measures", Journal of Money, Credit and Banking, Vol. 49, No 1, pp. 255-266.

Colliard , J-E. and P. Hoffmann, P. (2017) "Financial Transaction Taxes, Market Composition, and Liquidity", Journal of Finance, Vol. 72, Issue 6, pp. 2377-2394.

D’Agostino, A., Modugno, M. and Osbat, C. (2017) "A Global Trade Model for the Euro Area", International Journal of Central Banking, Vol. 13, No 4, pp. 1-34.

Dedola, L., Rivolta, G. and Stracca, L. (2017) "If the Fed sneezes, who catches a cold?", Journal of International Economics, Vol. 108, Issue S1, pp. 23-41.

Dell'Ariccia, G, Laeven, L. and Suarez, G. (2017) "Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States", Journal of Finance, Vol. 72, No 2, pp. 613-654.

Droumaguet, M., Warne, A. and Woźniak, T. (2017) "Granger Causality and Regime Inference in Markov Switching VAR Models with Bayesian Methods", Journal of Applied Econometrics, Vol. 32, No 4, pp. 802-818.

Ehrmann, M. and Jansen, D-J. (2017) "The Pitch Rather Than the Pit: Investor Inattention, Trading Activity, and FIFA World Cup Matches", Journal of Money, Credit and Banking, Vol. 49, No 4, pp. 807-821.

Ehrmann, M. and Ziegelmeyer, M. (2017) "Mortgage Choice in the Euro Area: Macroeconomic Determinants and the Effect of Monetary Policy on Debt Burdens", Journal of Money, Credit and Banking, Vol. 49, No 2-3, pp. 469-494.

Ehrmann, M., Pfajfar, D. and Santoro, E. (2017) "Consumers' Attitudes and Their Inflation Expectations", International Journal of Central Banking, Vol. 13, No 1, pp. 225-259.

Gambetti, L. and Musso, A. (2017) "Loan Supply Shocks and the Business Cycle", Journal of Applied Econometrics, Vol. 32, No 4, pp. 764-782.

Georgiadis, G. (2017) “To bi, or not to bi? Differences between spillover estimates from bilateral and multilateral multi-country models", Journal of International Economics, Vol. 10C, pp. 1-18.

Gilbert, T., Scotti, C., Strasser, G., and Vega, C. (2017) "Is the intrinsic value of a macroeconomic news announcement related to its asset price impact?", Journal of Monetary Economics, Vol. 92, Issue C, pp. 78-95.

Ghysels, E., Idier, J., Manganelli, S. and Vergote, O. (2017) "A High-Frequency assessment of the ECB Securities Markets Programme", Journal of the European Economic Association, Vol. 15, No 1, pp. 218-243.

Homar, T., and van Wijnbergen, S. J. G. (2017) “Bank Recapitalization and Economic Recovery after Financial Crises”, Journal of Financial Intermediation, Vol. 32, pp. 16-28.

Jarociński, M. and Maćkowiak, B. (2017) "Granger Causal Priority and Choice of Variables in Vector Autoregressions", The Review of Economics and Statistics, Vol. 99, No 2, pp. 319-329.

Laeven, L. and Popov, A. (2017) "Waking Up from the American Dream: On the Experience of Young Americans during the Housing Boom of the 2000s", Journal of Money, Credit and Banking, Vol. 49, No 5, pp. 861-895.

Lucas, A., Schwaab, B. and Zhang, X. (2017) "Modeling Financial Sector Joint Tail Risk in the Euro Area", Journal of Applied Econometrics, Vol. 32, No 1, pp. 171-191.

Nuño, G. and Thomas, C. (2017) "Bank Leverage Cycles", American Economic Journal: Macroeconomics, Vol. 9, No 2, pp 32-72.

Schmidt, S. (2017) "Fiscal Activism and the Zero Nominal Interest Rate Bound", Journal of Money, Credit and Banking, Vol. 49, No 4, pp. 695-732.

Abbate, A., Eickmeier, S., Lemke, W. and Marcellino, M. (2016) “The Changing International Transmission of Financial Shocks: Evidence from a Classical Time-Varying FAVAR”, Journal of Money, Credit and Banking, Vol. 48, No 4, pp. 573-601.

Altavilla, C., Giannone, D. and Lenza, M. (2016) “The Financial and Macroeconomic Effects of the OMT Announcements”, International Journal of Central Banking, Vol. 12, No 3, pp. 29-57.

Arciero L., Heijmans, R., Heuver, R., Massarenti, M., Picillo, C. and Vacirca, F. (2016) “How to Measure the Unsecured Money Market: The Eurosystem's Implementation and Validation Using TARGET2 Data”, International Journal of Central Banking, Vol. 12, No 1, pp. 247-280.

Beck, G., Hubrich, K. and Marcellino, M. (2016) “On the importance of sectoral and regional shocks for price setting”, Journal of Applied Econometrics, Vol. 31, No. 7, pp. 1234-1253.            

Behn, M., Haselmann, R. and Wachtel, P. (2016) “Procyclical capital regulation and lending”, Journal of Finance, Vol. 71, No 2, pp. 919–956.

Biais, B., Heider, F. and Hoerova, M. (2016) “Risk-sharing or risk-taking? Counterparty risk, incentives and margins”, Journal of Finance, Vol. 71, No 4, pp. 1669-1698.

Boissay, F., Collard, F. and Smets, F. (2016) “Booms and Banking Crises”, Journal of Political Economy, Vol. 124, No. 2, pp. 489-538.

Bover, O., Schürz, M., Slacalek, J. and Teppa, F. (2016) “Eurosystem Household Finance and Consumption Survey - Main Results on Assets, Debt and Saving”, International Journal of Central Banking, Vol. 12, No. 2, pp. 1-13.

Cimadomo, J. and d'Agostino, A. (2016) “Combining Time-Variation and Mixed-Frequencies: an Analysis of Government Spending Multipliers in Italy”, Journal of Applied Econometrics, Vol. 31, Issue 7, pp. 1276–1290.

Corradin, S., Gropp, R., Huzinga, H. and Laeven, L. (2016) “The effect of personal bankruptcy exemptions on investment in home equity”, Journal of Financial Intermediation, Vol. 25, pp. 77-98.

Dedola, L. and Corsetti, G. (2016) “The mystery of the printing press: Monetary policy and self-fulfilling debt crises”, Journal of the European Economic Association, Vol. 14, No 6, pp. 1329-1371.           

El-Shagi, M., Giesen, S. and Jung, A. (2016) “Revisiting the relative forecast performances of Fed staff and private forecasters: A dynamic approach”, International Journal of Forecasting, Vol. 32, pp. 313-323.

Eser, F., and Schwaab, B. (2016) “Evaluating the impact of unconventional monetary policy measures: Empirical evidence from the ECB׳s Securities Markets Programme”, Journal of Financial Economics, Vol. 119, No 1, pp. 147-167.

Forbes, K., Fratzscher, M., Kostka, T. and Straub, R. (2016) "Bubble thy neighbour: Portfolio effects and externalities from capital controls", Journal of International Economics, Vol. 99, Issue C, pp. 85-104.

Garcia-de-Andoain, C., Heider, F., Hoerova, M. and Manganelli, S. (2016) “Lending-of-last-resort Is as Lending-of-last-resort Does: Central Bank Liquidity Provision and Interbank Market Functioning in the Euro Area”, Journal of Financial Intermediation, Vol. 28, pp. 32-47.

Georgiadis, G. and Mehl, A. (2016) “Financial globalisation and monetary policy effectiveness”, Journal of International Economics, Vol. 103C, pp. 200-212.

Goetz, M., Laeven, L. and Levine, R. (2016) “Does the Geographic Expansion of Banks Reduce Risk?”, Journal of Financial Economics, Vol. 120, Issue 2, pp. 346-362.

Langfield, S. and Pagano. M. (2016) “Bank bias in Europe: effects on systemic risk and growth”, Economic Policy, Vol. 31, Issue 85, pp. 51-106.

Popov, A. and Ongena, S.  (2016) “Gender bias and credit access”, Journal of Money, Credit, and Banking, Vol. 48, No 8, pp. 1691-1724.               

Ramcharan R., Verani, S. and Van den Heuvel, S. (2016) “From Wall Street to Main Street: The Impact of the Financial Crisis on Consumer Credit Supply”, Journal of Finance, Vol. 71, No 3, pp. 1323-1356.

Ricco, G., Callegari, G. and Cimadomo, J. (2016) “Signals from the government: Policy disagreement and the transmission of fiscal shocks”, Journal of Monetary Economics, Vol. 82, pp. 107-118.

Schepens, G. (2016) “Taxes and bank capital structure”, Journal of Financial Economics, Vol. 120, No 3, pp. 585-600.

Aoki, K. and Nikolov, K. (2015) “Bubbles, Banks and Financial Stability”, Journal of Monetary Economics, Vol. 74, pp. 33-51.

Bańbura, M., Giannone, D. and Lenza, M. (2015) “Conditional forecasts and scenario analysis with vector autoregressions for large cross-sections”, International Journal of Forecasting, Vol. 31, No 3, pp. 739-756.

Beetsma, R., Cimadomo, J., Furtuna, O. and Giuliodori, M. (2015) “The confidence effects of fiscal consolidations”, Economic Policy, Vol. 30, No 83, pp. 439-489. 

Brumm, J., Grill M., Kubler, F. and Schmedders, K. (2015) “Margin Regulation and Volatility”, Journal of Monetary Economics, Vol. 75, pp. 54-68.

Brumm, J., Grill, M., Kubler, F. and Schmedders, K. (2015) “Collateral Requirements and Asset Prices”, International Economic Review, Vol. 56, Issue 1, pp. 1–25.

Christelis, D., Georgarakos, D., and Jappelli T. (2015) “Wealth shocks, unemployment shocks and consumption in the wake of the Great Recession”, Journal of Monetary Economics, Vol. 72, pp. 21-41.

Ciccarelli, M., Maddaloni, A. and Peydró, J.L. (2015) “Trusting the bankers: a new look at the credit channel of monetary policy”, Review of Economic Dynamics, Vol. 18, Issue 4, pp. 979-1002.

Clerc, L., Derviz, A., Mendicino, C., Moyen, S., Nikolov, K., Stracca, L., Suarez, J. and Vardoulakis, A. (2015) “Capital regulation in a macroeconomic model with three layers of default”, International Journal of Central Banking, Vol. 11, No 3, pp. 9-63.

Corradin, S. and Popov, A. (2015) “House Prices, Home Equity Borrowing, and Entrepreneurship”, Review of Financial Studies, Vol. 28, No 8, pp. 2399-2428.

de Fiore, F. and Uhlig, H. (2015) “Corporate Debt Structure and the Financial Crisis”, Journal of Money, Credit and Banking, Vol. 47, Issue 8, pp. 1571–1598.

Ehrmann, M. (2015) "Targeting Inflation from Below – How do Inflation Expectations Behave?", International Journal of Central Banking, Vol. 11, pp. 213-249.

Gertler, M. and Karadi, P. (2015) “Monetary Policy Surprises, Credit Costs, and Economic Activity”, American Economic Journal: Macroeconomics, Vol. 7, No 1, pp. 44-76.

Giannone, D., Lenza, M. and Primiceri, G. E. (2015) “Prior Selection for Vector Autoregressions”, The Review of Economics and Statistics, Vol. 97, No 2, pp. 436–451.

Hartmann, P. (2015) “Real estate markets and macroprudential policy in Europe”, Journal of Money, Credit and Banking, Vol. 47, No 1, pp. 69-80.

Heider, F. and Ljungqvist, A. (2015) “As certain as debt and taxes: Estimating the tax sensitivity of leverage from state tax changes”, Journal of Financial Economics, Vol. 118, Issue 3, pp. 684-712.

Hoerova, M., Heider, F. and Holthausen, C. (2015) “Liquidity Hoarding and Interbank Market Rates: The Role of Counterparty Risk”, Journal of Financial Economics, Vol. 118, pp. 336-354.

Hubrich, K. and Tetlow, R. J. (2015) “Financial stress and economic dynamics: The transmission of crises”, Journal of Monetary Economics, Vol. 70, pp. 100-115.

Kenny, G., Kostka, T. and Masera, F. (2015) “Can Macroeconomists forecast risk? Event-based evidence from the euro area SPF”, International Journal of Central Banking, Vol. 11, No. 4, pp. 1-46.

Mackowiak, B. and Wiederholt, M. (2015) “Business Cycle Dynamics under Rational Inattention”, Review of Economic Studies, Vol. 82, No 4, pp. 1502-1532.

Manganelli, S. and Popov, A. (2015) “Financial Development, Sectoral Reallocation, and Volatility: International Evidence”, Journal of International Economics, Vol. 96, No 2, pp. 323-337.

Popov, A. (2015) “Monetary Policy, Bank Capital, and Credit Supply: A Role for Discouraged and Informally Rejected Firms”, International Journal of Central Banking, Vol. 12, No. 1, pp. 95-141.

Scheicher, M., Duffie, D., and Vuillemey, G. (2015) “Central Clearing and Collateral Demand”, Journal of Financial Economics, Vol. 116, No 2, pp. 237-256.

White, H., Kim, T. and Manganelli, S. (2015) “VAR for VaR: Measuring tail dependence using multivariate regression quantiles”, Journal of Econometrics, Vol. 187, pp. 169-188.

Alessi, L., Ghysels, E., Onorante, L., Peach, R. and Potter, S. (2014) “Central bank macroeconomic forecasting during the financial crisis: the European Central Bank and Federal Reserve Bank of New York Experiences”, Journal of Business and Economic Statistics, Vol. 32, Issue 4, pp. 483-500.

Altunbas, Y., Gambacorta, L., and Marques-Ibanez, D. (2014)  “Does monetary policy affect bank risk-taking?” International Journal of Central Banking, Vol. 10, Issue 1, pp. 95-136.

Banbura, M. and Modugno, M. (2014) “Maximum likelihood estimation of factor models on data sets with arbitrary pattern of missing data”, Journal of Applied Econometrics, Vol. 29, Issue 1, pp. 133–160.

Bekaert, G. and Hoerova, M. (2014) “The VIX, the Variance Premium and Stock Market Volatility”, Journal of Econometrics, Vol. 183, No. 2, pp. 181-192.

Bekaert, G., Ehrmann, M., Fratzscher, M. and Mehl, A. (2014) “The global crisis and equity market contagion”, Journal of Finance, Vol. 69, No 6, pp. 2597-2649.

Born, B., Ehrmann, M., Fratzscher, M. (2014) “Central bank communication on financial stability”, The Economic Journal, Vol. 124, Issue 577, pp. 701–734.

Cantore, C., Leon-Ledesma, M., McAdam, P. and Willman, A. (2014) “Shocking Stuff”, Journal of the European Economic Association, Vol. 12, No. 1, pp. 108-128.

Cappiello, L., Gerard, B., Kadareja, A., and Manganelli, S. (2014) “Measuring Comovements by Regression Quantiles”, Journal of Financial Econometrics, Vol. 12, No 4, pp. 645-678.

Chiţu, L., Eichengreen, B. and Mehl, A. (2014) “When did the US dollar overtake sterling as the leading international currency? Evidence from the bonds markets”, Journal of Development Economics, Vol. 111C, pp. 225-245.

Coenen, G. and Warne, A. (2014) “Risks to Price Stability, the Zero Lower Bound and Forward Guidance: A Real-Time Assessment”, International Journal of Central Banking, Vol. 10, Issue 2, pp. 7-54.

Corradin, S. (2014) “Household Leverage”, Journal of Money Credit and Banking, Vol. 46, Issue 4, pp. 567–613.

Corradin, S., Fillat, J. L. and Vergara-Alert, C. (2014) “Optimal Portfolio Choice with Predictability in House Prices and Transaction Costs”, Review of Financial Studies, Vol. 27, No. 3, pp. 823-880.

Corsetti, G., Dedola, L. and Leduc, S. (2014) “The International Dimension of Productivity and Demand Shocks in the US Economy”, Journal of the European Economic Association, Vol. 12, Issue 1, pp. 153–176.

Creal, D., Schwaab, B., Koopman, S. J. and Lucas, A. (2014) “Observation driven mixed measurement dynamic factor models, with application to credit risk”, The Review of Economics and Statistics, Vol. 96, No 5, pp. 898–915.

Fecht, F. and Wedow, M. (2014) “The dark and the bright side of liquidity risks: Evidence from open-end real estate funds in Germany”, Journal of Financial Intermediation, Vol. 23, No 3, pp. 376-399.

Fratzscher, M. and Mehl, A. (2014) “China’s ‘dominance hypothesis’ and the emergence of a tri-polar international monetary system”, Economic Journal, Vol. 124, pp. 1343-1370.

Gambacorta, L. and Mistrulli, P.E. (2014) “Bank heterogeneity and interest rate setting: What lessons have we learned since Lehman Brothers?”, Journal of Money Credit and Banking, Vol. 46, Issue 4, pp. 753–778.

Giannone, D., Lenza, M., Momferatou, D. and Onorante, L. (2014) “Short-term inflation projections: a bayesian vector-autoregressive approach”, International Journal of Forecasting, Vol. 30, Issue 3, pp. 635-644.

Granziera, E., Hubrich, K. and Moon, R. (2014) “A predictability test for a small number of nested models”, Journal of Econometrics, Vol. 182, Issue 1, pp. 174-185.

Hoffmann, P. (2014) “A dynamic limit order market with fast and slow traders”, Journal of Financial Economics, Vol. 113, Issue 1, pp. 156-169.

Hubrich, K. and Manganelli, S. (2014) “Discussion of 'Central Bank Macroeconomic Forecasting during the Global Financial Crisis: The European Central Bank and Federal Reserve Bank of New York Experiences' by L. Alessi, E. Ghysels, L. Onorante, R. Peach, S. Potter”,  Journal of Business and Economic Statistics, Vol. 32, No 4, pp. 506-509.

Jaccard, I. (2014) “Asset returns and labor supply in a production economy”, Journal of Money Credit and Banking, Vol. 46, Issue 5, pp. 889–919.

Kolasa, M. and Lombardo, G. (2014) “Financial frictions and optimal monetary policy in an open economy”, International Journal of Central Banking, Vol 10, Issue 1, pp. 43-94.

Lombardo, G. and Ravenna, F. (2014) “Openness and optimal monetary policy”, Journal of International Economics, Vol. 93, Issue 1, pp. 153-172.

Lucas, A., Schwaab, B. and Zhang, X. (2014) “Conditional euro area sovereign default risk”, Journal of Business and Economic Statistics, Vol. 32, No 2, pp. 271-284.

Nakov, A. and Thomas, C. (2014) “Optimal Monetary Policy with State-Dependent Pricing”, International Journal of Central Banking, Vol. 10, Issue 3, pp. 49-94.

Popov, A. (2014) “Credit constraints and investment in human capital: Training evidence from transition economies”, Journal of Financial Intermediation, Vol. 23, No 1, pp. 76-100.

Popov, A. (2014) “Credit constraints, equity market liberalization, and growth rate asymmetry”, Journal of Development Economics, Vol. 107C, pp. 202-214.

Schwaab, B., Koopman, S. J. and Lucas, A. (2014) “Nowcasting and forecasting global financial sector stress and credit market dislocation”, International Journal of Forecasting, Vol. 30, Issue 3, pp. 741-758.

Vermeulen, P. (2014) “An evaluation of business survey indices for short-term forecasting: balance method versus Carlson-Parkin method”, International Journal of Forecasting, Vol. 30, Issue 4, pp. 882–897.

Abbritti, M. and Fahr, S. (2013) “Downward Wage Rigidities and Business Cycle Asymmetries”, Journal of Monetary Economics, Vol 60, Issue 7, pp. 871-886.

Alesina, A.F., Lotti, F. and Mistrulli, P.E. (2013) “Do Women Pay More For Credit? Evidence From Italy”, Journal of the European Economic Association, Vol. 11, pp. 45-66.

Amisano, G. and Giorgetti, M.L. (2013) “Entry in pharmaceutical submarkets: a Bayesian panel probit analysis”, Journal of Applied Econometrics, Vol. 28, Issue 4, pp. 667-701.

Bekaert, G., Hoerova, M., and Lo Duca, M. (2013) “Risk, uncertainty and monetary policy”, Journal of Monetary Economics, Vol. 60, Issue 7, pp. 771-788.

Bilbiie F. and Straub, R. (2013) “Asset-Market Participation, Monetary Policy Rules, and the Great Inflation”, The Review of Economics and Statistics, Vol 95, No 2, pp. 377-392.

Bussiere, M., Callegari, G., Ghironi, F., Sestieri, G. and Yamano, N. (2013) “Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-09”, American Economic Journal: Macroeconomics, Vol. 5 No. 3, pp. 118-51.

Calza, A., Monacelli, T. and Stracca, L. (2013) “Housing finance and monetary policy”, Journal of the European Economic Association, Vol. 11, Issue Supplement s1, pp. 101-122.

Cassola, N., Hortaçsu, A. and Kastl, J. (2013) “The 2007 subprime market crisis through the lens of European Central Bank auctions for short-term funds”, Econometrica, Vol. 81, No. 4, pp. 1309-1345.

Christelis, D., Georgarakos, D. and Haliassos, M. (2013) “Differences in Portfolios Across Countries: Economic Environment versus Household Characteristics”, The Review of Economics and Statistics, Vol. 95, No 1, pp. 220-236.

Ciccarelli, M., Maddaloni, A. and Peydro, J.L (2013)  “Heterogeneous transmission mechanism: monetary policy and financial fragility in the Eurozone”, Economic policy, Vol. 28, pp. 459-512.

de Castro, F., Pérez, J. J., and Rodríguez-Vives, M. (2013) “Fiscal data revisions in Europe”, Journal of Money, Credit and Banking, Vol. 45, Issue 6, pp. 1187–1209.

de Fiore, F. and Tristani, O. (2013) “Optimal Monetary Policy in a Model of the Credit Channel”, The Economic Journal, Vol. 123, Issue 571, pp. 906-931.

de Santis, R. A. and Surico, P. (2013) “Bank lending and monetary transmission in the euro area”, Economic Policy, Vol. 28, Issue 75, pp. 423-457.

Dedola, L., Lombardo, G., and Karadi, P. (2013) “Global Implications of National Unconventional Policies” Journal of Monetary Economics, Vol. 60, Issue 1, pp. 66-85.

Durré, A. and Beaupain, R. (2013) “Central bank reserves and interbank market liquidity in the euro area”, Journal of Financial Intermediation, Vol. 22, Issue 2, pp. 259-284.

Faria J. R. and McAdam, P. (2013) “Anticipation of Future Consumption: A Monetary Perspective”, Journal of Money Credit and Banking, Vol. 45, Issue 2-3, pp. 423-477.

Genre, V., Kenny, G., Meyler. A. and Timmermann, A. (2013) “Combining expert forecasts: Can anything beat the simple average?”, International Journal of Forecasting, Vol. 29, Issue 1, pp. 108-121.

Gertler, M. and Karadi, P. (2013) “QE1-2-3 - A Framework for Analysing Large Scale Asset Purchases as a Monetary Policy Tool”, International Journal of Central Banking, Vol. 9, Supplement 1, pp. 5-53.

Hau H., Langfield, S. and Marques-Ibanez, D. (2013) “Bank ratings: What determines their quality?”, Economic Policy, Vol. 28, Issue 74, pp. 289-333.

Jung, A. (2013) “Policy-makers’ interest rate preferences: recent evidence for three monetary policy committees”, International Journal of Central Banking, Vol. 9, Issue 3, pp. 145-192.

Kempf, H. and von Thadden, L. (2013) “When do cooperation and commitment matter in a monetary union?”, Journal of International Economics, Vol. 91, Issue 2, pp. 252-262.

Maddaloni, A. and Peydro, J. L. (2013) “Monetary Policy, Macroprudential Policy, and Banking Stability: Evidence from the Euro Area”, International Journal of Central Banking, March, pp. 121-169.

McAdam, P. and Willman, A. (2013) “Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?”, Journal of Money Credit and Banking, Vol 45, Issue 8, pp. 1547-1579.

Nakov, A., and Nuno, G. (2013) “Saudi Arabia and the Oil Market”, Economic Journal, Vol. 123, Issue 573, pp. 1333–1362.

Popov, A., Ongena, S., and Udell, G. (2013) “When the cat's away the mice will play: Does regulation at home affect bank risk taking abroad?”, Journal of Financial Economics, Vol. 108, Issue 3, pp. 727-750.

Schmidt, S. (2013) “Optimal Monetary and Fiscal Policy with a Zero Bound on Nominal Interest Rates”, Journal of Money Credit and Banking, Vol. 45, Issue 7, pp. 1335-1350.

Smets, F., Fahr, S., Motto, R., Rostagno, M. and Tristani, O. (2013) “A monetary policy strategy in good and bad times: Lessons from the recent past”, Economic Policy, Vol. 28, Issue 74, pp. 243-288.

Vardoulakis, A., Goodhart, C., Kashyap, A. and Tsomocos, D. (2013) “An integrated framework for multiple financial regulations”, International Journal of Central Banking, Vol. 9, Supplement 1, pp. 109-143.

Agnello, L. and Cimadomo J. (2012), “Discretionary Fiscal Policies over the Cycle: New Evidence Based on the ESCB Disaggregated Approach”, International Journal of Central Banking, Vol. 8, Issue 2, pp. 43-85.

Canova, F. and Ciccarelli, M. (2012), “Cyclical fluctuations in the Mediterranean basin”, Journal of International Economics, Vol. 88, pp. 162-175.

Coenen, G., Erceg, C., Freedman, C., Furceri, D., Kumhof, Lalonde, M., Laxton, D., Lindé, J., Mourougane, A., Muir, D., Mursula, S., Resende, C. de, Roberts, J., Roeger, W., Snudden, S., Trabandt, M., and Veld, J. (2012), “Effects of Fiscal Stimulus in Structural Models”, American Economic Journal: Macroeconomics, Vol. 4, Issue 1, pp. 22-68.

Colliard, J.-E. and Foucault T. (2012), “Trading Fees and Efficiency in Limit Order Markets”, Review of Financial Studies, Vol. 25, Issue 11, pp. 3389-3422.

Dedola, L. and Giovanni, L. (2012), “Financial frictions, financial integration and the international propagation of shocks”, Economic Policy, Vol. 27, Issue 70, pp. 319-359.

Dovern, J., Fritsche, U. and Slacalek, J. (2012), “Disagreement among Forecasters in G7 Countries”, The Review of Economics and Statistics, Vol. 94, No 4, pp. 1081-1096.

Ehrmann, M. and Sondermann, D. (2012) “The news content of macroeconomic announcements - what if central bank communication becomes stale?”, International Journal of Central Banking, Vol. 8, Issue 3, September, pp. 1-53.

Fecht, F., Grüner H.P. and Hartmann P. (2012) “Financial Integration, Specialisation and Systemic Risk”, Journal of International Economics, Vol. 88, Issue 1, pp. 150-161.

Ferrucci, G., Jiménez Rodríguez, R., and Onorante, L. (2012) “Food price pass-through in the euro area: non-linearities and the role of the Common Agricultural Policy”, International Journal of Central Banking, Vol. 8, Issue 1, pp. 179-218.

Fornari, F., and Stracca, L. (2012) “What does a financial shock do? International evidence”, Economic Policy, Vol. 27, Issue 71, pp. 407-445.

Giannone, D., Henry J., Lalik M., and Modugno, M. (2012) “An area-wide real-time database for the Euro Area”, The Review of Economics and Statistics, Vol. 94, No 4, pp. 1000-1013.

Giannone, D., Lenza, M., Pill, H. and Reichlin, L. (2012) “The ECB and the interbank market”, Economic Journal, Vol. 122, Issue 564, pp. 467-486.

Habib, M., and Stracca, L. (2012) “Getting beyond carry trade: What makes a safe haven currency?”, Journal of International Economics, Vol. 87, Issue 1, pp. 50–64.

Koopman, S. J., Lucas, A. and Schwaab B. (2012) “Dynamic factor models with macro, frailty, and industry effects for U.S. default counts: the credit crisis of 2008”, Journal of Business and Economic Statistics, Vol. 30, Issue 4, pp. 521-532.

Labhard, V., Cunningham, A., Eklund, J., Jeffery, C. and Kapetanios, G. (2012) “A State-Space Approach to Extracting the Signal from Uncertain Data”, Journal of Business and Economic Statistics, Vol. 30, Issue 2, pp. 173-180.

Popov, A., and Roosenboom, P. (2012) “Venture Capital and Patented Innovation: Evidence from Europe”, Economic Policy, Vol. 20, No 71, pp. 447-482.

Popov, A., and Udell, G. (2012) “Cross-Border Banking, Credit Access, and the Financial Crisis”, Journal of International Economics, Vol. 87, Issue 1, pp. 147–161.

Smets, F., Galí, J. and Wouters, R. (2012) “Slow recoveries: A structural interpretation”, Journal of Money, Credit and Banking, Vol. 44, Issue Supplement s2, pp. 9-30.

Vermeulen, P., Dias, D., Dossche, M. Gautier, E., Hernando, I., Sabbatini, R., and Stahl, H. (2012) “Price setting in the euro area: some stylised facts from individual producer price data”, Journal of Money, Credit and Banking, Vol. 44, Issue 8, pp. 1631-1650.