This is a study of the transmission of monetary policy to macroeconomic variables with structural time-varying coefficient vector autoregressions in the Czech Republic, Hungary and…

Using data on exchange rates and consumer price indices and a weighting matrix, we calculate up-to-date consumer price index-based REER (the real effective exchange rate) for 178 countries – many more than in any other publicly available database – plus for the euro area. The database will be irregularly updated.

The case for taxing financial transactions merely to raise more revenues from the financial sector is not particularly strong. Better alternatives to tax the financial…

The purpose of this Policy Contribution is to compare the policy responses in, and the adjustments made byIceland, Ireland and Latvia. Based on this comparison,…

This Policy Contribution puts forward policy recommendations to move towards growth rebuilding in the EU, reducing the fragility of the European banking sector and restore the image of southern European countries as worthwhile places to invest.

This report examines how the international monetary system (IMS) might evolve and the implications of different scenarios for the euro area over the next fifteen…

This article studies the role of fiscal and monetary institutions in macroeconomic stability and budgetary control in central, eastern and south-eastern European countries (CESEE) in…

There are two possible responses to the Greek debt crisis: ‘Plan A’, continued official lending, for as long as needed, with possible voluntary private sector…

In a paper on the effects of the global financial crisis in Central and Eastern Europe (CEE), a European Union economist reacts to a companion…

This background paper describes in detail the assumptions and calculations behind the results presented in Zsolt Darvas, Jean Pisani-Ferry and André Sapir "A comprehensive approach…