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Tilman Bletzinger

European Central Bank (ECB)

Sonnemannstrasse 22

Frankfurt am Main, 60314

Germany

SCHOLARLY PAPERS

7

DOWNLOADS

1,153

TOTAL CITATIONS

9

Scholarly Papers (7)

1.

Monetary-Fiscal Policy Interactions in the Euro Area

ECB Occasional Paper No. 2021/273
Number of pages: 130 Posted: 23 Sep 2021 Last Revised: 04 Feb 2022
International Monetary Fund (IMF) - Research Department, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, Banco de España, European Central Bank (ECB), European Central Bank (ECB), Morgan Stanley, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, Banco de España, European Central Bank (ECB), European Central Bank (ECB), Deutsche BundesbankEuropean Central Bank (ECB)University of Kiel, European Central Bank (ECB), European Central Bank, University of Bonn, European Central Bank (ECB), European Central Bank (ECB), University of Auckland, Banco de España, European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), European Central Bank (ECB), Banque de France, European Central Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Goethe University Frankfurt, European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), Banque de France, De Nederlandsche Bank, Bank of Italy, New University of Lisbon - Nova School of Business and Economics, Bank of Portugal, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank - Research Department, European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, European Central Bank (ECB), Bank of Estonia and European Central Bank (ECB)
Downloads 581 (118,447)
Citation 3

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Fiscal Policy, Monetary Policy, Monetary Union

2.

Report on Monetary Policy Tools, Strategy and Communication

ECB Occasional Paper No. 2025/372
Number of pages: 201 Posted: 10 Jul 2025
Christophe Kamps, Matthieu Bussière, Birgit Niessner, Oreste Tristani, Kai Philipp Christoffel, Sujit Kapadia, Sujit Kapadia, Giuseppe Ferrero, Thomas Vlassopoulos, Roberto Motto, Galo Nuño, Rafael Gerke, Ramón Adalid, Yildiz Akkaya, Simone Auer, Niels D. Gilbert, Lea Bitter, Claus Brand, Alexandre Carrier, Paola Di Casola, Michael Dobrew, Alessandro Ferrari, Gavin Goy, Adriana Grasso, Boryana Ilieva, Thomas Kostka, Noëmie Lisack, Falk Mazelis, Thomas McGregor, Benoît Nguyen, Sebastian Rast, Annukka Ristiniemi, Stefan Ruhkamp, Arthur Saint Guilhem, Elisa Saporito, Andreea Liliana Vladu, Pablo Aguilar, Anastasia Allayioti, Carlo Altavilla, Elena Angelini, Ana Arencibia Pareja, Eleni Argiri, Aris Avgousti, Katarzyna Bańkowska, David Barkhausen, Anna Bartocci, Colm Bates, Christoph Basten, Ursel Baumann, Nicola Benatti, Marco Bernardini, Tilman Bletzinger, Elena Bobeica, Diana Bonfim, Jef Boeckx, Benjamin Böninghausen, Paolo Bonomolo, Margherita Bottero, Miguel Boucinha, Dirk Broeders, Katarzyna Barbara Budnik, Lorenzo Burlon, Ginters Buss, Alessandro Cantelmo, Giacomo Carboni, José Cardoso da Costa, Tomás Carrera de Souza, Matteo Ciccarelli, Julian-Baptiste Cinquin, Mohammed Chahad, Günter Coenen, Agostino Consolo, Agostino Consolo, Pietro Cova, Matias Covarrubias, Olivier Georg De Jonghe, Roberto A. De Santis, Milan Deskar-Škrbić, Rodolfo Dinis Rigato, Rubén Dominguez Diaz, Stéphane Dupraz, Michael Ehrmann, Michaela Elfsbacka-Schmöller, Rita Fernandes Vitorino Besugo, Annalisa Ferrando, Luís Fonseca, Caterina Forti Grazzini, José-Elías Gallegos, Johannes Gareis, Laura Gáti, Dimitris Georgarakos, Gabriel Glöckler, Nicolò Gnocato, Sandra Gomes, Beatriz Gonzáles, Robert Goodhead, Sofia Gori, Antonio Greco, Alex Grimaud, Johannes Groß, Markus Haavio, Tim Hagenhoff, Casper Helmus, Joni Heikkinen, Hannah Hempell, Marie Hoerova, Federic Holm-Hadulla, Björn Imbierowicz, Katti Irastorza, Klodiana Istrefi, Jip Italianer, Pirkka Jalasjoki, Kasper Jørgensen, Gallegos Dago Jose Elias, Rokas Kaminskas, Peter Karadi, Hanno Kase, Danielle Kedan, Mark Kerssenfischer, Daniel Kienzler, Juha Kilponen, Inge Klaver, Georgi Kocharkov, Thore Kockerols, Antoine Kornprobst, Mika Kortelainen, Georgi Krustev, Vanessa Kunzmann, Claudia Kwapil, Olli-Matti Laine, Jan Hannes Lang, Wolfgang Lechtaler, Wolfgang Lemke, Stéphane Lhuissier, Philipp Lieberknecht, Tobias Linzert, Matija Lozej, Peeter Luikmel, Frederik Lund-Thomsen, Patrick Lünnemann, Davide Malacrino, Catalina Martínez Hernández, Jaime Martínez-Martín, Magali Marx, Kostas Mavromatis, Aidan Meyler, Angeliki Momtsia, Georg Müller, Anton Nakov, Kalin Nikolov, Alessandro Notarpietro, Meri Obstbaum, Florens Odendahl, Christian Offermans, Maritta Paloviita, Niki Papadopoulou, Melina Papoutsi, Matic Patriček, Adrian Penalver, Alexandru Penciu, Martin Pintarić, Sebastiaan Pool, Romanos Priftis, Dominic Quint, Ansgar Rannenberg, Tomas Reichenbachas, Joost Röttger, Valerio Scalone, Alexander Scheer, Jan Scheithauer, Maximilian Schröder, Julian Schumacher, Fabian Schupp, Bernd Schwaab, Ifigeneia Skotida, Christian Speck, Arnoud Stevens, Manuela Storz, Martin Strukat, Jacek Suda, Marta Szablewksa, Dominik Thaler, Johannes Tischer, Andrea Giorgio Tosato, Alejandro Van der Ghote, Georges Várhelyi, Sofia Velasco, Alexia Ventula-Veghazy, Igor Vetlov, Matjaz Volk, Julian von Landesberger, Leopold von Thadden, Johannes Wacks, Thomas Westermann, Ladislav Wintr, Srecko Zimic, Andrejs Zlobins, Klavs Zutis, Elise Dupin, Luca Ebener, Ines Ferdandes De Almeida Lindoso, Cian Hennigan, Edoardo Pilla, Anita Sammarini, Tal Strauss and Flavia Ungarelli
European Central Bank (ECB), Banque de France, Oesterreichische Nationalbank (OeNB), European Central Bank (ECB), European Central Bank (ECB), Bank of EnglandEuropean Central Bank (ECB), Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), European Central Bank (ECB), Bank of Italy, De Nederlandsche Bank, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank - Research Department, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Market Operations, De Nederlandsche Bank, European Central Bank (ECB), European Central Bank (ECB), Banque de France, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Banco de España, National Bank of Greece, Central Bank of Cyprus, European Central Bank (ECB), European Central Bank (ECB), Banca d’Italia, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Banca d’Italia, European Central Bank (ECB), European Central Bank (ECB), Bank of Portugal, Banque Nationale de Belgique, European Central Bank (ECB), European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Latvijas Banka, Banca d’Italia, European Central Bank (ECB), Bank of Portugal, De Nederlandsche Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central BankECB, Banca d’Italia, Banco de España, European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, Hrvatska Narodna Banka, European Central Bank (ECB), Banco de España, Banque de France, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Banco de España, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Research, European Central Bank (ECB), European Central Bank (ECB), Bank of Portugal, Banco de España, Central Bank of Ireland, European Central Bank (ECB), European Central Bank (ECB), Oesterreichische Nationalbank (OeNB), European Central Bank (ECB), Suomen Pankki – Finlands Bank, Deutsche Bundesbank, Deutsche Bundesbank, Bank of Finland - Research, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, Banco de España, Banque de France, De Nederlandsche Bank, Suomen Pankki – Finlands Bank, European Central Bank (ECB), Banco de España, Bank of Lithuania, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, Deutsche Bundesbank, Suomen Pankki – Finlands Bank, De Nederlandsche Bank, Deutsche Bundesbank, European Central Bank (ECB), European Central Bank (ECB), Suomen Pankki – Finlands Bank, European Central Bank (ECB), Deutsche Bundesbank, Oesterreichische Nationalbank (OeNB), Suomen Pankki – Finlands Bank, European Central Bank (ECB), Oesterreichische Nationalbank (OeNB), European Central Bank, Banque de France, Deutsche Bundesbank, European Central Bank (ECB), Central Bank of Ireland, Bank of Estonia, Danmarks Nationalbank (The Central Bank of Denmark), Banque Centrale du Luxembourg, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Banque de France, De Nederlandsche Bank, European Central Bank (ECB), National Bank of Greece, European Central Bank (ECB), European Central Bank (ECB)CEPR, European Central Bank (ECB), Bank of Italy, Suomen Pankki – Finlands Bank, Banco de España, Deutsche Bundesbank, Suomen Pankki – Finlands Bank, Central Bank of Cyprus, European Central Bank (ECB), Banka Slovenije, Banque de France, European Central Bank (ECB), Croatian National Bank, European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, National Bank of Belgium, Bank of Lithuania, Deutsche Bundesbank, European Central Bank (ECB), Deutsche Bundesbank, Deutsche Bundesbank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Research, National Bank of Greece, Deutsche Bundesbank, De Nederlandsche Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, Central Bank of Malta, European Central Bank (ECB) - Directorate General Research, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, Banka Slovenije, European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), Banque Centrale du Luxembourg, European Central Bank (ECB) - Directorate General Research, Latvijas Banka, Latvijas Banka, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 154 (497,070)

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3.

Can EU Bonds Serve as Euro-Denominated Safe Assets?

ECB Working Paper No. 2022/2712
Number of pages: 21 Posted: 18 Aug 2022
Tilman Bletzinger, William Greif and Bernd Schwaab
European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
Downloads 102 (694,528)
Citation 3

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EU-issued bonds, European Central Bank, European Union, market liquidity, NextGenerationEU (NGEU), Pandemic Emergency Purchase Programme (PEPP)

4.

Time-Varying Risk Aversion and Inflation-Consumption Correlation in an Equilibrium Term Structure Model

ECB Working Paper No. 2025/3012
Number of pages: 76 Posted: 14 Jan 2025
Tilman Bletzinger, Wolfgang Lemke and Jean-Paul Renne
European Central Bank (ECB), European Central Bank and University of Lausanne - School of Economics and Business Administration (HEC-Lausanne)
Downloads 98 (699,467)

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demand and supply, inflation risk premiums, risk aversion, term structure model

5.

The Impact of Constrained Monetary Policy on the Fiscal Multipliers on Output and Inflation

ECB Working Paper No. 2019
Number of pages: 47 Posted: 15 Feb 2017
Tilman Bletzinger and Magdalena Lalik
European Central Bank (ECB) and European Central Bank
Downloads 98 (699,467)
Citation 2

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fiscal multipliers, constrained monetary policy, zero lower bound

6.

Looser, Tighter, Clearer: A New Financial Conditions Index for the Euro Area

ECB Working Paper No. 2026/3193
Number of pages: 46 Posted: 25 Feb 2026
Tilman Bletzinger, Giulia Martorana and Jakub Mistak
European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 71 (924,743)

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financial conditions index, monetary policy, structural macro-finance VAR

7.

Designing QE in a Fiscally Sound Monetary Union

ECB Working Paper No. 2156
Number of pages: 69 Posted: 08 Jun 2018
Tilman Bletzinger and Leopold von Thadden
European Central Bank (ECB) and European Central Bank (ECB)
Downloads 49 (1,074,648)
Citation 1

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Monetary Union, Monetary Policy, Quantitative Easing, Lower Bound