macroeconomics

Financial markets have inherent instability. Daniel Dăianu considers the role of AI but finds it hard to imagine a complete replacement of human judgment in monetary policy

The ECB’s Governing Council has decided to proceed with the ‘preparation phase’. Ulrich Bindseil, Piero Cipollone and Jürgen Schaaf focus on the debate around the impact of a digital euro on bank funding

Andrew Bailey gives an overview on the state of the banking sector, focusing on the future issues that are important for banks themselves and for broader monetary and financial stability

A two-tier system of reserve requirements is needed to reduce the size of transfers to banks. Paul De Grauwe and Yuemei Ji answer their critics

At 25 the euro area has shown extraordinary resilience. Marco Buti and Giancarlo Corsetti articulate a set of reforms to complete the euro area architecture