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ECB research agenda

The ECB commits significant resources to research because good research is the foundation of good policy

Economic, monetary and financial research is conducted by the Directorate General Research together with other business areas of the bank. All research is carried out under the umbrella of the Research Coordination Committee, fostering cooperation and coordination. The committee develops a common research agenda for the ECB, with annual reporting on activities to the Executive Board. The research work is coordinated across research groups, organised by topic, with members from across the organisation.

Research topics

Monetary policy, strategy and implementation

We do research to better understand how monetary policy decisions affect the economy, so that we can devise the most appropriate policy response to any situation.

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Fiscal policy within EMU

This strand of research helps us gain a better understanding of fiscal policies in the euro area and how they affects economic growth, inflation and financial stability.

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International macro and finance

We research trends in global production and trade, capital flows, exchange rates, commodity prices and macroeconomic policy so that we can estimate their impact on the euro area economy.

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Real sector and microeconomic analysis

Labour and product markets are another important strand of research. We look at the evolution of labour markets and labour productivity, and also analyse price-setting in the euro area.

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Forecasting and business cycle analysis

Forecasting research is crucial to ensure that we have state-of-the-art tools for policymaking. We develop nowcasting tools and study how best to track economic conditions.

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Macro-finance, systemic risk and macroprudential policy

Given the key role of financial markets in the transmission of monetary policy, we research issues related to macro-financial linkages, financial instability, contagion and macroprudential policies.

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Financial institutions, microprudential policy, financial markets and payments

We study banking regulation, financial integration, asset pricing, corporate finance, market infrastructure, fintech and digital currencies, as well as central bank liquidity and collateral policies.

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Our researchers

Explore a list of all of our researchers by research interest or business area. Their work provides the foundations for the ECB’s decisions in all policy areas.

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Employment opportunities

The Directorate General Research offer exciting and challenging employment opportunities for researchers at every stage of their career.

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