A service of the

Please note: We have changed our email system. Individual email addresses can be found on the "About us" page of this website. For general inquiries, please contact the editorial team at redaktion@zbw-workspace.eu.

Event announcement · 13 June 2023 14:00-16:30
The value added of central bank digital currencies

Forum · Issue 3 · 2023
Inflation Strikes Back: How to Restore Control

Forum · Issue 2 · 2023
Rethinking Resource Efficiency: Europe’s Transition to a Circular Economy

Forum · Issue 1 · 2023
Tackling the European Energy Crisis

Forum · Issue 6 · 2022
De-Globalisation – A New World Order?

Forum
Reversing the Great Monetary Expansion

After much complacency about the prospect that the expansionary era may last forever, the abrupt and strong change of direction raises controversies which may put the reputation and the popular support of central banks at risk. Ignazio Angeloni discusses how to deal with the balance sheet of the ECB.

Editorial
The 2023 France Pension Reform

The objective of the 2023 pension reform is more modest than that of the previous reform attempt: it mainly aims to eliminate the projected deficit in the pension system by 2030. However, it is difficult to do this in a way that is perceived as fair for all, write Hervé Boulhol and Monika Queisser.

Forum
Bringing Inflation Back Under Control

A key difficulty facing the ECB recently has been to distinguish between transitory and underlying elements of inflation. Elena Bobeica, Sarah Holton and Gerrit Koester from the ECB provide an in-depth description of the various drivers of inflation and how they change over time.

Strategic Autonomy
The EU’s Quest for Strategic Raw Materials

With demand for raw materials increasing and geopolitical tensions intensifying, the need for a regulatory framework, particularly for domestic mining and recycling, has become a precondition for the EU to achieve security of supply, write Edoardo Righetti and Vasileios Rizos.

Banks
The Silicon Valley Bank Run: Regulatory and Media Failure

The current situation, with some banks facing runs from uninsured depositors, is not at all comparable to the problems we saw in 2008-09, writes Dean Baker. Media reporting, which has frequently made this comparison, has played a major role in exacerbating the recent crisis.

Circular Economy
Critical Raw Material Supply

André Månberger explains how circular economy policies, including recycling, will relieve some pressure on primary metal extraction by increasing the diversity of the resource base. The article discusses how the circular economy can be leveraged to increase EU strategic autonomy and the potential for conflicting policy goals this may bring.

Quote of the Month

"The ECB must confront an unprecedented combination of challenges to bring inflation back under control and regain its credibility as an institution."

Daniel Gros

The Political and Technical Aspects of Controlling Inflation

Current Issue

Volume 58
2023
Issue 3

Read online
Free print subscription

Figure of the Month

Indicators of underlying inflation and inflation projections and expectations

This discrepancy between inflation projections and the range of underlying inflation measures highlights that in a time of large economic dislocations, when the reverting component becomes prominent, there is a need to consider broader determinants of underlying inflation dynamics, like wages and inflation expectations.