distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary …

of fiscal sustainability falls upon the Central Bank (CB). In particular, we explore whether the CB's bond purchases in …

The European Central Bank (ECB) took many measures to combat the eurozone's rolling financial crisis. For providing … desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we … October 2009 and September 2012, the most intense phase of the eurozone crisis. Dollar liquidity clearly reduced stress in …

We employ two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on … the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal … currencies to central bank verbal interventions becomes important only during the crisis period, though. …

size and voting power. One way to implement this principle is a rotation scheme for national central bank governors that …

and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and … have indeed been contradictory. Furthermore, national central banks continue to dominate communication on monetary policy …

representation in a federal central bank addressing this question. Optimal voting weights reflect two opposing forces: the wish to …