ECB Research Bulletin by Michael Ehrmann, Sarah Holton, Danielle Kedan and Gillian Phelan
The Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience.
The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem.