The income velocity of circulation has been subject to a trend decline in all the member states of the European Monetary Union since its inception. In this paper, we propose an explanation for this in terms of a measure of the ECB’s inflation fighting credibility. This credibility gain...

Central bank communication has increased significantly over the past two decades and has continued to evolve since the onset of the financial crisis. We first discuss the theoretical and empirically measured merits of central bank transparency. We then survey the communication practices of...

In this paper, using the recently developed EU-KLEMS database, we estimate an empirical model of the average work week for a sample of euro area countries.

This paper examines the evolution of participation rates in the Euro area, focussing, in particular, on one of the more dynamic Euro area labour markets - that of Ireland’s.