2+ hour, 17+ min ago  (581+ words) Figure 1 Monthly frequency of price changes, increases and decreases in the euro area (excluding sales) The frequency of price changes subsequently fell, returning close to its pre-pandemic level in 2024 for food and non-energy industrial goods, but it declined more slowly…...

1+ day, 2+ hour ago  (576+ words) By controlling for time-invariant regional characteristics and for shocks common to all euro area regions, we isolate the region-specific relationship between inflation and economic slack. When we include region and time fixed effects, we find a slope of -0.19, indicating that…...

5+ day, 10+ hour ago  (125+ words) Eric Swanson - Seminar 7 - Virtual Seminar on Monetary Economics (VSME)CEPR Eric Swanson (University of California, Irvine) will present the paper "The Kalshi Prediction Market and the "Fed Information Effect". The Virtual Seminar on Monetary Economics is a monthly online research…...

1+ week, 3+ hour ago  (519+ words) Although these questions dominate much of the public debate on AI, robust empirical evidence remains limited. In a recent article (Minniti et al. 2025) we offer new insights into how AI-related innovation influences the distribution of income between labour and capital,…...

3+ week, 3+ hour ago  (421+ words) Figure 1 Use of big data analytics and AI by country groups Importantly, workers in AI-adopting firms have benefited through higher wages, both in aggregate and per employee. Whether these wage gains will persist in the long term, and whether they…...

1+ mon, 6+ day ago  (246+ words) Figure 1 The frequency of price changes as a function of shock size: demand versus supply shocks (frequency: fraction out of one) Figure 2 Inflation and the frequency of price changes: Models versus data (inflation: percentage points, annualised; frequency: fraction) Inflation can…...

1+ mon, 1+ week ago  (537+ words) Figure 1 The safe-haven and funding stress factors Nevertheless, in our local projections estimation, we isolate the effect of funding stress by controlling for the safe-haven factor, and vice-versa. For comparison, we also repeat the analysis for the yen and Swiss…...

1+ mon, 1+ week ago  (203+ words) Figure 1 Time series of short-term and long-term US Treasury convenience yields Figure 3 Change in long-term Treasury positions across countries and flight to gold Acharya, V V and T Laarits (forthcoming), "When do Treasuries Earn the Convenience Yield? " A Hedging Perspective…...

1+ mon, 3+ week ago  (663+ words) Most of the major banking crises in modern economic history have been preceded by a U-shape in monetary policy rates, where rates are hiked following a prolonged period of low rates (Jimenez et al. 2022). Conceivably, when rates stay low for…...

2+ mon, 3+ hour ago  (321+ words) Figure 1 Selected measures of uncertainty Figure 2 Euro area non-financial corporate credit growth Table 1 The impact of uncertainty shocks on euro area non-financial corporate credit growth Figure 3 The impact of a volatility index shock on euro area corporate credit growth Ahir,…...