Special arrangements were made for the preparation of this ninth post-programme surveillance (PPS) report, due to the exceptional circumstances linked to the Covid-19 pandemic. Given the ongoing developments and related travel restrictions, the mission was conducted in virtual format, via video ...
This paper studies the role of sticky prices for the monetary transmission mechanism, using disaggregated industry-level data from 205 US industries. There is substantial hetero geneity in the output responses of industries to monetary policy surprises. I show that an industry's response to mone...
The near-term outlook for the European economy looks weaker than expected last autumn, as the pandemic has tightened its grip on the continent. The resurgence in infections since the autumn, together with the appearance of new, more contagious variants of the coronavirus, have forced many Member...
The U.S. and China are said to be in hegemonic competition, and the main arena of that competition is technological superiority. Although 5G communications and space are considered to be the major domain, the real competition is taking place in emerging technologies. These technologies will defi...