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This paper analyses two central elements of the ECB’s 2021 monetary policy strategy review in an estimated open-economy structural macroeconomic (DSGE) model of the euro area: (1) explicit symmetry of the 2% inflation target, and (2) commitment to persistent monetary accommodation...
The paper quantifies the potential macroeconomic impact of structural reforms in the EU Member States employing a benchmarking approach, closing half the observed gaps in structural indicators.
This paper compares post-COVID growth and inflation dynamics in the euro area and the US using an estimated macro model.
This edition analyses the impact of increasing commodity prices, with a particular focus on energy prices, from three different angles. First, it studies inflation divergence in the euro area inflation, driven by the external shocks but also by internal factors.. Second, it discusses the factors dri
This Special Topic presents a new labour hoarding indicator based on the Commission’s harmonised business surveys.
An overview of economic developments in candidate and pre-candidate countries.
This paper presents simulations with the Commission’s QUEST model to examine whether rising inflation stemming from a terms-of-trade deterioration could reduce public debt-to-GDP ratios.
This discussion paper presents key findings on the implementation and functioning of MTBFs in the EU over the last decade and on identified past and future challenges.
An overview of Member States' 2023 Stability and Convergence Programmes and an assessment of the recent and prospective fiscal stance.
This paper presents a new macrofinancial general equilibrium model of the euro area economy.