This paper contributes to the literature on the relation between bank profitability and economic activity. When allowing for stronger co-movement of bank profit with economic activity during deep recessions, we find a much larger impact of output growth on bank profitability than commonly found...

We analyse the relative intensity and character of price vs. cost and wage vs. employment firm-level adjustment to cost-push shocks in the European System of Central Banks Wage Dynamics Network (WDN) survey data set. The results document several statistically significant and theoretically...

Using a survey among Dutch firms on price setting behaviour in the Netherlands the study identifies how sticky prices are, which prices are sticky and why they are sticky. The most distinctive feature of the Dutch survey is its broad coverage of the business community (seven sectors and seven...

This paper analyses information from survey data collected in the framework of the Eurosystem’s Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in...

Some central banks have a reputation for being secretive. A justification for this behaviour that we find in the literature is that being transparent about operations and beliefs hinders the central bank in achieving the best outcome. In other words, a central bank needs flexibility and...

In their seminal paper, Morris and Shin (Amer Econ Rev 92(5): 1521–1534, <CitationRef CitationID="CR11">2002a</CitationRef>) argued that increasing the precision of public information is not always beneficial to social welfare. Svensson (Amer Econ Rev 96: 448–451, <CitationRef CitationID="CR15">2006</CitationRef>) however has disputed this by saying that although feasible, the...</citationref></citationref>