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December 10, 2019

SVARs, the central bank balance sheet and the effects of unconventional monetary policy in the euro area

This discussion paper presents further evidence that the most important published estimates of the effects of unconventional monetary policy are not reliable. It is a further elaboration of the ideas in the CPB...

September 17, 2019

Fan Charts September 2019

The figures present fan charts around the MEV 2020 point forecasts for GDP growth, HICP inflation, unemployment and general government financial...

June 19, 2019

Fan Charts June 2019

The figures present fan charts around the June 2019 point forecasts for GDP growth, HICP inflation,unemployment and general government financial balance.

February 19, 2019

Do zero and sign restricted SVARs identify unconventional monetary policy shocks in the euro area?

This research re-examines the findings of the existing literature on the effects of unconventional monetary policy.

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