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

KBW 16: The German current account surplus in relation to GDP has reached record high levels in historical and international...

KBW 12: The trend decline of productivity growth in Germany is not due to a single cause but is the result of the interplay of...

Kiel Policy Brief No. 90: According to the authors, improving institutions to stimulate entrepreneurial action and investment is the...

Globalization influences inflation and the transmission channels of monetary policy in various ways. ...

The ECB has adopted a variety of unconventional monetary policy measures since the Global Financial Crisis. In this paper, we assess...

By expanding the Extended Asset Purchase Programme the ECB intends to increase the dosage of its QE policies. ...

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

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

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

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...

KKB 50: The upswing in Germany is starting to falter. In the third quarter, the economy shrank for the first time in three years. This...

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

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

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

KKB 47: The economic upswing in Germany continues, although the expansion loses some steam. Compared to our summer forecast, we...

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