Two extraordinary U.S. labor market developments facilitated the sharp disinflation in 2022-23 without raising the unemployment rate. First, pandemic-driven infection worries and social distancing intentions caused a sizable drag on labor force participation that began to reverse in the first...

Two extraordinary U.S. labor market developments facilitated the sharp disinflation in 2022-23 without raising the unemployment rate. First, pandemic-driven infection worries and social distancing intentions caused a sizable drag on labor force participation that began to reverse in the first...

How do the business cycle effects of loan supply shocks depend on the state of prudential regulation in the euro area? To address this question, we first identify regulatory cycles from a cumulative prudential policy index that tracks the evolution of the regulatory stance in the euro area....

How do the business cycle effects of loan supply shocks depend on the state of prudential regulation in the euro area? To address this question, we first identify regulatory cycles from a cumulative prudential policy index that tracks the evolution of the regulatory stance in the euro area....

The paper analyses the role of national central banks (NCBs) in the governance of the European System of Central Banks (ESCB), NCBs are the owners of the European Central Bank (ECB), and their governors dominate the ECB's Governing Council, but in monetary policy operations, NCBs are...

In this paper we explore the cross-country implications of climate-related mitigation policies. Specifically, we set up a two-country, two-sector (brown vs green) DSGE model with negative production externalities stemming from carbon-dioxide emissions. We estimate the model using US and euro...

We develop a two-country DSGE model with financial frictions to study the transition from a steady-state without CBDC to one in which the home country issues a CBDC. The CBDC provides households with a liquid, convenient and storage-cost-free means of payments which reduces the market power of...

The paper examines the Czech crown money market in terms of products and volumes traded. The interest rate time series for the last 10 years are surveyed, and a parsimonious model is used to investigate to what extent the marketplace serves as the starting point for pricing customer cash...

Die Deutsche Gesellschaft für Epidemiologie warnte, dass die Zahl der COVID-19-Fälle schon bald die Kapazität des Gesundheitssystems übersteigen könnte. In Deutschland und weltweit droht eine schwere Rezession aufgrund eines externen Schocks. Mögliche Szenarien zur Bekämpfung der Krise...

This study analyzes internal and external factors that affect banking efficiency by using quarterly data for 2013-2017. The sample includes conventional and Islamic commercial banks. Hypothesis testing uses the Tobit regression model. The results show that the loan to deposit ratio/ financing to...