KKB 76: One year after the start of the pandemic, lockdown measures and behavioural changes still weigh on economic activity in the...

The EU was able to achieve important successes in its investment agreement with China, but falls short of its original goals. For...

The extensive margin of bilateral trade exhibits a high level of persistence that cannot be explained by geography or trade policy. ...

We investigate the export-enhancing effect of foreign workers at the firm level. We first develop a theoretical framework of...

We investigate the export-enhancing effect of foreign workers at the firm level. We first develop a theoretical framework of...

The ongoing European integration represents an ambitious process without historical precedent and, largely, a story of overwhelming...

There is little the European Union today needs more urgently than cohesion, unity and solidarity. From this perspective, it seems...

The European Monetary Union (EMU) is a major institutional reform that substantially changes economic relations in the participating...

Against the backdrop of European economies being in partial lockdown again due to the Covid-19 pandemic, this report presents an...

Kiel Policy Brief No. 144: The restrictions on freedom of travel and far-reaching infection control measures in the wake of the...

We summarise the empirical evidence on effects of asset purchases in the euro area, including the PEPP programme launched in response...

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

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

KBW 15: In a full reserve system, commercial banks would lose the ability to create money out of thin air and to use sight deposits as...

Kiel Policy Brief No. 107: The authors Klaus Schrader and Marta Ulivelli analyse the shortcomings of the Italian economy and of the...

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

Kiel Policy Brief No. 116: Thanks to an indirect hair cut on its debt via low long-term fixed interest rates and maturity extensions...

This compilation paper revisits the Schengen set up including recentdevelopments triggered by both the migration crisis and terrorism,...

The current asylum system is contradictory, unfair, and both costly and hazardous for all involved. Under the present rules, refugees...

Kiel Policy Brief No. 103: For eight years, Greece has remained in crisis mode but the rescue from economic decline is still not...