Linear methods overstate fiscal stimulus in HA models
A new working paper by Javier Bianchi and Greg Kaplan finds that linear methods substantially overstate the effects of fiscal stimulus in heterogeneous-agent (HA) models.
The war in the Middle East has driven a sharp rise in Brent crude oil prices, which the European Central Bank estimates will noticeably weigh on euro area economic activity.
The European Central Bank's June 2026 Convergence Report assesses five EU Member States – Czech Republic, Hungary, Poland, Romania, and Sweden – on their progress towards adopting the single currency.
Banca d'Italia's 2025 annual report on Abruzzo's economy highlights 0.4 percent growth, driven by construction and services.
A Federal Reserve study finds that positive long-run growth shocks steepen the equity yield curve by increasing expected dividend growth.
A new working paper by Javier Bianchi and Greg Kaplan finds that linear methods substantially overstate the effects of fiscal stimulus in heterogeneous-agent (HA) models.
A new Bank for International Settlements working paper analyzes the macroeconomic impact of stablecoins, finding that widespread adoption modestly reduces long-run output but provides short-term economic benefits.
The Bank for International Settlements' Annual Economic Report 2026 identifies rising public debt, AI investment boom, and stablecoin innovation as key challenges for global financial stability and central banks.
The European Central Bank's (ECB's) Survey of Monetary Analysts (SMA) provides valuable information on financial market participants' expectations regarding monetary policy and the macroeconomic outlook.
State aid expenditure in the European Union has risen sharply in recent years, reaching 1 percent of GDP in 2024.
A new Danmarks Nationalbank working paper finds that U.S. firms incorporate 43 percent of expected future costs into their reset prices.
A new ECB study reveals that monetary policy tightening has stronger effects than easing.