In November 2025 the Foundation of Monetary and Financial Stability and Goethe University Frankfurt agreed to jointly extend basic funding for the IMFS as a…
The decline of cash used for transaction purposes as well as the increase in total currency in circulation is usually discussed with respect to cost, efficiency…
The European Monetary Union has emerged from the most severe period of inflation in its history. After the inflation rate in the euro area temporarily rose to over…
Artificial Intelligence (AI) has profoundly shaped commercial and private life. Corporations have been experiencing its impact across areas such as product design,…
The Pension Security Commission (Alterssicherungskommission) will soon present its draft reform proposal. The renowned economists and legal experts of Kronberger…
FOCUS online asked seven renowned pension and economic experts—both national and international—including Prof. Volker Wieland, to rate key reform proposals on a…
The ECB is pushing ahead full steam with the digital euro—as a strategic prestige project, justified on the grounds of sovereignty, efficiency, and the…
Household finance has continued to experience remarkable growth since the publication of our review article a few years ago (Gomes, Haliassos, and Ramadorai,…
On April 1, 2026, Prof. Dr. Katja Langenbucher, Professor for Private Law, Financial Markets and Banking Regulation, Monetary and Digital Assets Law, joined the…
The Scientific Advisory Board to the Federal Minister for Economic Affairs and Energy has submitted reports on the topics “Escalation in the Middle East:…
The ECB anticipates stable growth and inflation, while Europe is faced with geopolitical threats, lack of competitiveness and fiscal challenges. At such a time,…
This paper studies the response of inflation expectations to an exogenous shift in central bank preferences. We use the unexpected announcement of the resignation…
In this note, we provide a brief first quantitative assessment of possible consequences of the energy price shock for euro area inflation. We consider different…
The Euro Area experienced historically high inflation in 2022, with energy prices playing a central role. This paper examines the joint impact of various energy…
During the last decades, central bank independence proved to be the bedrock of credible and effective monetary policy. Both past and recent history provides plenty…
Central bank independence (CBI) refers to the absence of influence of politicians on monetary policy making. Since we wrote our first surveys of the literature on…
Volker Wieland gave this week's Hayek Lecture at the Walter Eucken Institute at the University of Freiburg. In his lecture, he discussed the stability of the euro…
Since US President Donald Trump threatened EU countries with punitive tariffs in the dispute over Greenland, the EU has been discussing countermeasures. In…
Many observers view the recent criminal investigation against Jerome Powell, chairman of the US Federal Reserve, as an attack on the independence of the Fed.…
In the aftermath of the Great Financial Crisis, central banks from several advanced, small, open economies have used FX interventions (FXI) in order to stimulate…
