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...
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...
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 Agenda and Multilateral Relations - Green Transition (GLOBAL.GI.3)
European External Action Service - Secretariat-General of the EEAS - Service of Deputy Secretary General for economic and global issues - Global Agenda and Multilateral Relations - Green Transition (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 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)
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...
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...
The European Union must solidify its position asa global leader in technology, innovation and clean energy. By addressing key challenges and leveraging existing strengths, Europe can enhance its competitiveness, foster economic growth and sh...
In light of recent global economic and geopolitical shocks threatening trade openness, this report aims to shed light on geoeconomic fragmentation and develops a rich set of new tools to assess its economic effects and implications for central banks. The report shows that, although global trade ...
The global economy fared better in 2023 than initially expected, continuing to expand at a moderate pace. The expansion was driven mainly by economic growth in emerging market economies and the United States, while most other advanced economies were more strongly affected by tight financing cond...
This edition of the Employment and Social Developments in Europe (ESDE) review examines patterns and developments of social convergence in the EU over the last decade, showing important catching-up trends among Member States. It discusses the role of social investment in supporting social and ec...
