Bereits vor der Corona-Krise zeigte die Europäische Währungsunion (EWU) eine unbefriedigende wirtschaftliche Entwicklung mit niedrigem Wachstum und zu geringer Inflation. Zur Krisenbekämpfung ist die Koordination zwischen Geld- und Fiskalpolitik notwendig. Unzureichende Lohnsteigerungen, die...

President Biden signed a $1.9 trillion COVID relief package (the “American Rescue Plan”) on March 11, 2021. Without a corresponding increase in taxes, this plan has set off alarm bells for those concerned about the expansion of government deficits and debt. Mainstream economists have raised...

This paper looks at the implications for monetary policy of the widespread adoption of artificial intelligence and machine learning, which is sometimes called the "fourth industrial revolution". The paper reviews experiences from the previous three industrial revolutions, developing a template...

Since its establishment in 1998, the European Central Bank (ECB) has come of age. During this period, its legal framework has been put to the test sufficiently to allow for a proper assessment of the working of this system in practice. This article focuses on the relationship between the ECB and...

This paper looks at the implications for monetary policy of the widespread adoption of artificial intelligence and machine learning, which is sometimes called the "fourth industrial revolution". The paper reviews experiences from the previous three industrial revolutions, developing a template...

This paper provides background information and basic descriptive statistics for a representative survey of the New Zealand population conducted on our behalf by Research New Zealand in May 2016. The survey addresses important fiscal and monetary policy issues, including: (1) public preferences...

This paper provides background information and basic descriptive statistics for a representative survey of the New Zealand population conducted on our behalf by Research New Zealand in May 2016. The survey addresses important fiscal and monetary policy issues, including: (1) public preferences...

Central banking has been traditionally characterized by mystique and an organizational culture of secrecy. While in recent years there has been a shift towards greater transparency around the globe, the degree of transparency continues to vary across countries. This is surprising because the...

Nudges are popular instruments in the toolbox of policymakers. Yet, empirical evidence suggests some of these interventions can influence decisions which were not initially targeted, raising the risk to undermine their effectiveness. To analyse such spillover effects, I develop micro-foundations...

We examine public trust in the European Central Bank (ECB) and its determinants using data from the Bundesbank Household Panel survey for Germany. Employing an interdisciplinary approach that integrates insights from political science and psychology, we offer a fresh perspective on the factors...