Blogs&Reviews

  • The effects of the ECB’s new inflation target on private households’ inflation expectations

    Mathias Hoffmann, Emanuel Moench, Lora Pavlova, Guido Schultefrankenfeld, 20 December 2021

    New survey results from the Bundesbank Online Panel Households (BOP-HH) show that the ECB's new inflation target is associated with moderately higher inflation expectations for the next two to three years. 

  • The ECB’s tools: Transparency is needed

    Lucrezia Reichlin, Klaus Adam, Warwick J. McKibbin, Michael McMahon, Ricardo Reis, Giovanni Ricco, Beatrice Weder di Mauro, 03 December 2021

    This blog replies to Rafael Repullo’s comment on CEPR's recent report on the ECB. The authors clarify that there is little to no disagreement. Most of what is in the comment coincides with what is in the report, using different words. Where disagreements exist, they reflect different views on the importance of transparency in communication of both strategy and future policy.

  • Rafael Repullo comments on some recommendations and statements on the tools of monetary policy at the ECB from the recent CEPR report on the central bank's strategy.

  • A primer on (UK) inflation

    David Blanchflower, 15 November 2021

    David Blanchflower explains why it is most likely the jump in inflation in the UK will dissipate

Other Recent Blogs&Reviews:

  • Antonio Fatás, 16 June 2018

    GDP growth rates can be a  misleading indicator of the true performance of different economies. In this post, Antonio Fatas argues that once the effect of an ageing population is removed, Japan has actually performed very well since 1990, while Italy stands out among the largest advanced economies because its performance along all dimensions has been poor since the 1990s.

  • Esa Jokivuolle, 14 June 2018

    An integrated European banking market can be seen as an ultimate objective of Europe’s Banking Union project. Esa Jokivuolle asks whether bank lending should be steered towards more cross-border diversification with the help of capital requirements.

  • Karl Whelan, 14 June 2018

    The past week has been the most fraught yet in the Brexit negotiations, with the ‘Irish backstop’ a key issue. In this post, Karl Whelan argues that rather than being threatened economically, Northern Ireland would gain from the implementation of the EU’s backstop.

  • Ashoka Mody, 14 June 2018

    Italian financial tremors are again rumbling dangerously. In this post, Ashoka Mody describes how tremors from the Italian fault line are set to spread in cascading earthquakes through euro area and global financial systems.

  • Roger Farmer, 13 June 2018

    In the New Keynesian model, the connection between the unemployment rate and the inflation rate is driven by the Phillips curve. In this post, Roger Farmer proposes replacing the Phillips curve with a belief function, an alternative theory of the connection between unemployment and inflation that better explains the facts.

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