This research note investigates the causal effects of inflationaryshocks on householdeconomic indicators, unemployment rates, and other critical labour market indicators for three countries: Germany, Italy and France. These are the...
We propose a novel empirical structural inflation model that captures non-linear shock transmission using a Bayesian machine learning framework that combines VARs with non-linear structural factor models. Unlike traditional linear models, our approach allows for non-linear effects at all impulse...
European Commission - Directorate-General for Research and Innovation - Deputy Director-General: Planet, People and Science for Policy - Healthy Planet - Green Transitions (RTD.B.1)
European External Action Service - Secretariat-General of the EEAS - Service of Deputy Secretary General for economic and global issues - Global Issues and Communication - Global Issues - Green Transition (ECO.GLOBAL.GI.3)
European Commission - Directorate-General for Energy - Deputy Director-General - Coordination of the Just and Green Energy Transition (in charge of Directorates B and C) - Green Transition and Energy System Integration (ENER.C)
European External Action Service - Secretariat-General of the EEAS - Service of Deputy Secretary General for economic and global issues - Global Issues and Communication - Global Issues - Green Transition (ECO.GLOBAL.GI.3)
European Commission - Directorate-General for Energy - Deputy Director-General - Coordination of the Just and Green Energy Transition (in charge of Directorates B and C) - Green Transition and Energy System Integration (ENER.C)
European Commission - Directorate-General for Economic and Financial Affairs - Investment, growth and structural reforms - Economics of resilience and transition (ECFIN.B.4)
European Commission - Directorate-General for Energy - Deputy Director-General - Coordination of the Just and Green Energy Transition (in charge of Directorates B and C) - Green Transition and Energy System Integration (ENER.C)
European Commission - Directorate-General for Economic and Financial Affairs - Investment, growth and structural reforms - Economics of resilience and transition (ECFIN.B.4)
European Commission - Directorate-General for Economic and Financial Affairs - Investment, growth and structural reforms - Economics of resilience and transition (ECFIN.B.4)
European Commission - Directorate-General for Financial Stability, Financial Services and Capital Markets Union - Deputy Director-General - General Affairs - Economic analysis and evaluation (FISMA.A.5)
European Commission - Directorate-General for Financial Stability, Financial Services and Capital Markets Union - Deputy Director-General - General Affairs - Economic analysis and evaluation (FISMA.A.5)
European Commission - Directorate-General for Financial Stability, Financial Services and Capital Markets Union - Deputy Director-General - General Affairs - Economic analysis and evaluation (FISMA.A.5)
This in-depth review presents the main findings of the Commission’s staff assessment of macroeconomic vulnerabilities for Romania for the purposes of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances. It provides technical input to the Commission for the C...
This special issue of the Quarterly Report on the Euro Area is one of the various initiatives launched by DG ECFIN in 2024 to mark the euro’s 25th anniversary. Over the past 25 years, the euro has played a pivotal role in shaping the European economic landscape. Introduced in 1...
We construct a New-Keynesian E-DSGE model with energy disaggregation and financial intermediaries to show how energy-related fiscal and macroprudential policies interact in affecting the euro area macroeconomy and carbon emissions. When a shock to the price of fossil resources propagates through...
In 2010, the European Commission’s Civil Protection and Humanitarian Aid Operations department (DG ECHO) published the ‘Humanitarian Food Assistance: From Food Aid to Food Assistance’ policy document, its first sector-specific policy, setting the foundation for the development of several other s...
At its meeting on 30 January 2025, the Governing Council decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated...
This paper takes stock of the ECB’s macroeconometric modelling strategy by focusing on the models and applications used in the Forecasting and Policy Modelling Division. We focus on the guiding principles underpinning the current portfolio of the main macroeconomic mod...
