There are over 3 billion searches globally on Google every day. This report examines whether Google search queries can be used to predict the present and the near future unemployment rate in Finland. Predicting the present and the near future is of interest, as the official records of the state...

This report examines whether Google search queries can be used to predict the present and the near future house prices in Finland. Compared to a simple benchmark model, Google searches improve the prediction of the present house price index by 7.5 % measured by mean absolute error. In addition,...

This paper reviews the experience of the ECB with the two-tier system for excess reserve remuneration that exempted a portion of banks' excess liquidity (EL) holdings from the negative interest rate of the ECB's deposit facility. The two-tier system aimed to support the bank-based transmission...

The Russian economy boomed in the period of rising energy prices. That period coincided roughly with the era of Vladimir Putin's presidency (2000-2008). The speed of Russia's catching-up was then even faster than that of the new EU member states from Central and Eastern Europe. Surging energy...

This study examines the Twitter policies and use of European central banks. Almost every European central bank maintains an institutional Twitter account, but tweeting activity, tweet content and usage restrictions on Twitter use by individual staff members vary considerably. We further consider...

This report analyses and reviews the corporate finance structure of non-financial corporations (NFCs) in the euro area, including how they interact with the macroeconomic environment. Special emphasis is placed on the crisis that began in 2007-08, thus underlining the relevance of financing and...

This study assesses the speed of real convergence in ECOWAS using the Optimal Currency Area (OCA) theory to determine the readiness of member countries for a monetary union. The study leveraged on Bayoumi and Eichengreen (1996) and computed OCA indices utilizing both variables suggested by the...

Der starke Anstieg der Energiepreise, der bereits im Jahr 2021 begann, und der russische Angriff auf die Ukraine im Februar 2022 haben die Sicherheit der Energieversorgung Europas in den öffentlichen und politischen Fokus gerückt. Dieser Beitrag quantifiziert vor diesem Hintergrund die...