European Central Bank
Temporary migration reshapes regional shocks and policy trade-offs
A new ECB working paper finds that temporary migration significantly alters macroeconomic fluctuations and the effectiveness of stabilization policies in integrated economies like the European Union.
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New climate factors tackle uncertainty in ECB collateral
The European Central Bank has introduced climate factors into its collateral framework.
New LLM index tracks euro area geoeconomic tension
ECB researchers have developed a new index to measure geopolitical and geoeconomic tension in the euro area.
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Cross-border bank lending barriers cost euro area 1.6% GDP
An ECB working paper quantifies significant barriers to cross-border bank lending within the euro area, primarily hindering relationship formation and bank entry.
Lane: AI's net effect on natural rate of interest uncertain
ECB Executive Board Member Philip R. Lane outlined the uncertain net effect of artificial intelligence on macroeconomic dynamics and the natural rate of interest (R*).
Monetary policy hits households via banks
An ECB Occasional Paper reviews how monetary policy transmits to euro area households, highlighting the central role of banks and non-bank intermediaries.
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Non-banks amplify monetary policy transmission, paper finds
A new European Central Bank (ECB) Occasional Paper finds that non-bank financial intermediaries (NBFIs) tend to amplify monetary policy transmission in the euro area.
Network structure alters shock propagation, impacts monetary policy
A new ECB Occasional Paper synthesizes research on how production networks and firm heterogeneity influence monetary policy transmission.
Structural shifts reshape monetary policy transmission
An ECB Occasional Paper surveys research on how ongoing structural change is affecting monetary policy transmission in the euro area.
Lagarde defends rate hike, signals data-dependent policy path
ECB President Christine Lagarde defended the recent interest rate hike in a July 2 interview with Les Échos.
Cipollone sees digital euro and tokenisation reshaping payments
ECB Executive Board member Piero Cipollone outlined the central bank's comprehensive strategy for the digital transformation of money, payments, and finance.
Elderson says green transition curbs inflation and climate risk
Frank Elderson, Member of the ECB's Executive Board, highlighted how the green transition is crucial for mitigating inflation volatility and economic uncertainty.