To mitigate the effect of surging energy prices in 2022 on households and businesses, European countries implemented expansionary fiscal policy measures. What was the effect on the euro area inflation?

New research highlights the effects of monetary policy on national fiscal policies.

Proposals on how to reduce gas demand and the price cap of electricity in the harmonized EU market.

Safe asset shortage leads to collateral reuse. New research examines the effect of reuse on repo rates. Could issuance of Eurobonds alleviate the safe asset shortage in the Eurosystem?

The ECB recently announced the Transmission Protection Instrument to prevent fragmentation as it tightens monetary policy. What are the criticisms so far?

Interest rate hikes by the ECB have the potential to increase the spreads of countries in a way that is disconnected from economic fundamentals and hence increase the risk of market fragmentation.

Recent commentary on whether the reform of the Stability and Growth Pact is necessary and a new proposal.

A call for an institutional framework to ensure that the Eurozone’s monetary and fiscal stance at the aggregate level are coherent.

The Next Generation EU funds have the potential to significantly boost growth in EU. But will they?

Europe’s Banking Union has not achieved its goals but has benefited the Eurozone’s banking sector in unexpected ways.