Social distancing restrictions, as measured by the Oxford stringency indicator, constitute the one variable that is most tightly correlated with the recession and recovery across EU member states.

We derive an analytic expression describing how health costs and death counts of the Covid-19 pandemic change over time as vaccination proceeds. Meanwhile, the disease may continue to spread exponentially unless checked by Non Pharmacological Interventions (NPI). The key factors are that the...

The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...

Die Bilanz des Europäischen Zentralbanksystems (EZBS) ist um 50% länger als notwendig, und da die europäischen Notenbanken ihre Bilanzen so undurchsichtig wie möglich gestalten, ist es schwer, genau festzustellen, woher die überflüssigen Positionen stammen. Daniel Gros, stellvertretender...