This article (german) looks at the cryptocurrency phenomenon, in particular with regards to costs and scalability, stability of value,...

At present, widespread use of cryptocurrencies for payment would entail sub-stantial risks and costs. A digital central bank currency,...

Following a brief discussion of the characteristics of money, we provide an overview of virtual currencies describing relevant...

We take stock of the current evidence on fragmentation in financial markets in the  euro area and discuss policy options to...

We take stock of the current evidence on fragmentation in financial markets in the  euro area and discuss policy options to...

We take stock of the current evidence on fragmentation in financial markets in the  euro area and discuss policy options to...

KKB 27: The world economy has gained traction in the course of 2016 despite elevated policy uncertainty and seems to have picked up...

KKB 7: Following a weak start into 2015, the global economy is expected to pick up again in the course of this year. ...

Globalization influences inflation and the transmission channels of monetary policy in various ways. The effects of globalization on...

The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently...

We take stock of the current evidence on fragmentation in financial markets in the  euro area and discuss policy options to...

We take stock of the current evidence on fragmentation in financial markets in the  euro area and discuss policy options to...

Looks at Greek debt situation. Points out that measures that do not reduce Greek debt in nominal terms, such as forbearance, reduce...

Comments on a ECB working paper on the “bank bias” in Europe which makes certain recommendations to increase financing via capital...