KBW 36: The extremely low interest environment during the 2010s has significantly facilitated the reduction of the gross government...

This paper summarises recent trends in the international use of the euro and potential benefits and drawbacks of acquiring the status of an...

The paper argues that the monetary policy response to the COVID-19 crisis has been appropriate in terms of the ECB’s primary objective. The...

Against the backdrop of a trend towards a cashless society and the emergence of private electronic monies, the paper discusses properties of...

Risks to financial stability in the euro area appear to be contained for the time being, but could be substantial in the longer run. The...

Against the backdrop of slowing growth and subdued inflation in the euro area, we address the question to what extent additional monetary...

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

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

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

Inflation has been persistently below the inflation target of the ECB despite the ongoing economic recovery in the euro area. In this paper,...

KKB 52: The euro area economy has once again switched back a gear. The slowdown over the course of 2018 is mainly due to weaker impulses from...

KKB 8: The German economy remains on a robust growth track. For the current year we expect GDP to increase by 1.8 percent. Next year, the rate...

KKB 14: German GDP is expected to increase by 1.8 percent (2015), 2.2 percent (2016), and 2.3 percent (2017). With capacity utilization...

KKB 10: Economic activity in the Euro Area is gradually gaining grip in 2015. Sentiment indicators suggest that the current - rather moderate...

KKB 41: The air for the economic upswing in Germany is getting thinner. We expect German GDP to grow by 2.5 percent this year and by 2.3...

KKB 38: The German economy is running at full steam. Economic activity has further accelerated in the current year and leading indicators...

KKB 46: The Euro area economy has lost momentum in the first half of 2018. The slowdown was due to country-specific temporary factors and a...

KKB 53: The German economy has shifted down a gear. After still very high economic momentum in Germany until the middle of last year,...