Chapter 1. Introduction -- Part 1: Does the Science of Monetary Policy Need to Be Altered? -- Chapter 2. New Challenges on the Science of Monetary Policy -- Chapter 2. New Lessons for Macroeconomics and Finance Theory -- Chapter 4. In Search for a New Monetary Policy Framework -- Part 2:...

The COVID-19 pandemic marks an unprecedented shock to global growth and trade and brought international dependencies into the spotlight. This triggered discussions on resilience and robustness of global value chains. In this paper we assess which products can be considered as vulnerable to trade...

The COVID-19 pandemic marks an unprecedented shock to global growth and trade and brought international dependencies into the spotlight. This triggered discussions on resilience and robustness of global value chains. In this paper we assess which products can be considered as vulnerable to trade...

We study the impact of the COVID-19 pandemic on euro area inflation and how it compares to the experiences of other countries, such as the United States, over the two-year period 2020-21. Our model-based calibration exercises deliver four key results: (1) compositional effects, or the switch...