NBER

Nowcasting consumer price inflation using high-frequency scanner data: evidence from Germany

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Tuesday, April 23, 2024
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Key Points: 

    Monetary asmmetries without (and with) price stickiness

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    Friday, April 19, 2024
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    Key Points: 

      Unlocking efficiency: optimal monetary policy when capital misallocation matters

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      Friday, April 19, 2024
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      While “misallocation of capital” and its detrimental impact on productivity is traditionally beyond the scope of central banks, monetary policy can influence it through firms’ investment decisions.

      Key Points: 
      • While “misallocation of capital” and its detrimental impact on productivity is traditionally beyond the scope of central banks, monetary policy can influence it through firms’ investment decisions.
      • Using a New Keynesian model and granular data on Spanish firms, our results show that expansionary monetary policy reduces capital misallocation.

      Transactional demand for central bank digital currency

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      Thursday, April 18, 2024
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      Key Points: 

        As interest rates surge: flighty deposits and lending

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        Friday, April 5, 2024
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        Key Points: 

          Isabel Schnabel: The Eurosystem’s operational framework

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          Wednesday, April 3, 2024
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          This box investigates how households have responded to the 2021-23 inflationary episode using evidence from the ECB’s Consumer Expectations Survey.

          Key Points: 
          • This box investigates how households have responded to the 2021-23 inflationary episode using evidence from the ECB’s Consumer Expectations Survey.
          • The findings suggest that households have primarily adjusted their consumption spending to cope with higher inflation.

          Isabel Schnabel: R(ising) star?

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          Wednesday, April 3, 2024
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          This box investigates how households have responded to the 2021-23 inflationary episode using evidence from the ECB’s Consumer Expectations Survey.

          Key Points: 
          • This box investigates how households have responded to the 2021-23 inflationary episode using evidence from the ECB’s Consumer Expectations Survey.
          • The findings suggest that households have primarily adjusted their consumption spending to cope with higher inflation.

          US monetary policy is more powerful in low economic growth regimes

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          Tuesday, April 2, 2024
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          Key Points: 

            Business as usual: bank climate commitments, lending, and engagement

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            Tuesday, April 2, 2024
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            Key Points: 

              The unequal impact of the 2021-22 inflation surge on euro area households

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              Tuesday, April 2, 2024
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              The 2021-22 surprise inflation surge had a major impact on households in the euro area.

              Key Points: 
              • The 2021-22 surprise inflation surge had a major impact on households in the euro area.
              • Indeed, not everyone was a net loser: while about 70% of households suffered a loss, the rest enjoyed moderate gains.