[1], [2] I briefly led this programme before my switch to central banking in 2015 and my aim in this speech is to explore some inter-connections between the research agenda of this programme’s research agenda and the analytics of the monetary policy issues that occupy me in my current role.
In particular, I wish to focus on the international transmission of the ECB’s monetary policy, which is central to evaluating how our monetary policy affects both the euro area economy and, through various spillover mechanisms, the global economy. [3] The euro area is deeply integrated into the global economy, which means that our analysis universally needs to take into account open-economy dimensions.