The introduction of the Transmission Protection Instrument is the latest evidence, that the EMU is confronted with unstable markets for government bonds. Based on a parsimonious...

Replication materials for "The demand for money at the zero interest rate bound", by Tsutomu Watanabe and Tomoyoshi Yabu, Journal of Applied Econometrics, forthcoming.

The analysis considers the role of non-performing loans (NPLs) for bank lending rates on newly granted loans. It is based on euro area data. The focus is on an effect caused by...

Based on panel error correction models for a sample of up to 21 countries this paper analyses the macroeconomic determinants of house prices and rents. In accordance with the...

From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive overheating of...