# Publications

Is globalisation reducing the ability of central banks to control inflation?

After soaring in the 1970s, inflation in Organisation of Economic Cooperation and Development countries stabilised, coming down from 9 percent on average in the early 1980s to about 2 percent in the years before the cris...

13th November 2015 by Guntram Wolff 2361 views

# Publications

The growing intergenerational divide in Europe

During the economic and financial crisis, the divide between young and old in the European Union increased in terms of economic well-being and allocation of resources by governments. As youth unemployment and youth pover...

11th November 2015 by Guntram Wolff 2074 views

# Publications

Schriftliche Stellungnahme Bundestagsanhörung „Niedrigzinspolitik der EZB“

This Policy Contribution was prepared for the Financial Committee of the German Bundestag. It is only available in German. Zusammenfassung Reale Renditen fallen weltweit mindestens seit Anfang der 1980er Jahre, so auch i...

5th November 2015 by Guntram Wolff 2501 views

# Blog

Inflation expectations and global risks: the need for ECB action

The ECB will have its next monetary decision meeting on Thursday. Instead of following politically motivated statements that complain about low nominal rates, the ECB needs to focus on its mandate: price stability, defin...

21st October 2015 by Guntram Wolff 3099 views

# Blog

What options for European deposit insurance?

The aim of this blog post is to clarify different options of how to organize European deposit insurance without yet settling on the best option. We aim to explain and to highlight what different options can and cannot ac...

9th October 2015 by Guntram Wolff 3577 views

# Blog

A European approach to climate finance will make a deal at COP21 more likely

Europe needs to convince poor countries that it is serious about a climate deal. To do this it must act jointly and decisively to shape global climate finance. This op-ed was published in MNI, Kamara Online, Kathemerini,...

4th October 2015 by Guntram Wolff 2656 views

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# Publications

European climate finance: securing the best return

The issue Combating climate change is perhaps the most formidable public policy challenge of our times. Unmitigated climate change will be irreversible. It will place significant costs on future generations, and expose t...

11th September 2015 by Guntram Wolff 2628 views

# Blog

Germany’s handling of immigration will shape the future of Europe

The FT has published a shortened version of my comment below. When religious persecution around 1700 drove the Huguenots to Prussia’s Berlin and Brandenburg, they added more than 1% to the native population...

11th September 2015 by Guntram Wolff 3256 views

# Blog

The dragon sneezes, Europe catches a cold

European stock prices, financial contagion and the trade exposure to China. How the turmoil in China’s stock market is affecting European stock markets through Europe’s trade exposure to China This post was first p...

26th August 2015 by Guntram Wolff 4643 views

# Blog

Euro Area Banks Remain Vulnerable

Strengthening the banking system is important to achieve a sustainable recovery, because it will revitalise credit to the healthier segments of the economy. However without restructuring, euro area banks are still vulner...

24th August 2015 by Guntram Wolff 2181 views