Against the backdrop of the recent surge in inflation, we discuss available measures of inflation expectations and implications for monetary policy in t

Consumer price inflation in the euro area has sharply risen to 3% in the course of 2021. This increase was mainly due to higher energy prices and other

Negative interest rate policies (NIRP) have become an established monetary policy instrument in the toolkit of the ECB. We discuss NIRP in the euro area

The costs and benfits of moving from a flexible exchange rate regime to a monetary union depend critically on the conduct of monetary policy. In particu

This paper offers a reappraisal of the inflation–unemployment tradeoff, based on frictional growth, describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered...

We embed human capital-based endogenous growth into a New-Keynesian model with search and matching frictions in the labor market and skill obsolescence

KKB 1: Die weltwirtschaftliche Expansion ist im Verlauf des Jahres 2014 erneut ins Stocken geraten. Von einem Aufschwung, der von allen Regionen getragen wird,

KKB 37: The world economy is currently expanding strongly with upward momentum in almost every major economy. Global activity is set to expand by 3.8 percent, 0

KKB 39: At the start of 2018 the global economy is in full swing. On a PPP-basis growth in 2017 was 3.9 percent, the highest rate since 2011.

KKB 43: The world economy has lost momentum in the beginning of this year, although partly due to special factors.