This paper assesses the practical experience of monetary analysis at the ECB from the introduction of the euro in 1999 through 2006. The paper exploits a unique and rich real-time data set, containing both the vintages of data and the economic models that have been employed in the ECB's monetary...

[fre] La libéralisation financière constitue le plus souvent un facteur clé du développement économique.. Ces vingt dernières années ont été caractérisées par une vague de libéralisation financière dans de nombreux pays émergents.. Cependant, les résultats de la libéralisation...

This paper revisits the evidence on monetary policy transmission. It extends the existing literature in three dimensions. First, we attempt to internalise potential international channels of transmission by taking a global perspective. More specifically, we explore global aggregates covering a...

This paper discusses the implications of the European Central Bank's monetary policy strategy for the Eurosystem's operational framework, in the context of the transmission mechanism of monetary policy in the euro area. The first part of the paper uses an analytical framework common to many...