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La courbe de Phillips
La courbe de Phillips remonte à l'économiste britannique Alban William Phillips, qui a observé pour les années 1861 à 1957 un lien entre le taux de croissance des salaires nominaux et le taux de chômage. Dans sa variante initiale, la courbe donne ainsi l'impression qu'il existe un choix entre chômage et inflation. Du point de vue empirique, il s'est toutefois avéré qu'une relation aussi simple n'existe pas. Au cours des 50 dernières années, la courbe de Phillips a fait l'objet à plusieurs reprises de discussions controversées qui ont donné lieu à de nombreuses modifications de la courbe.
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Bietungsfrist für Gebote
16. Juni 2025
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The Phillips curve
The Phillips curve was invented by UK economist Alban William Phillips, who observed a correlation between nominal wage growth and the unemployment rate for the period 1861 to 1957. The original version of the curve implies a trade-off between unemployment and inflation. Empirical evidence shows, however, that the relationship is not nearly as simple as that. Over the past 50 years, the Phillips curve has time and again been hotly debated, leading to numerous modifications.
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Discussion paper 45/2024: Macroeconomic and financial effects of natural disasters
991 KB, PDF
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Special Statistical Publication 3 - Archive
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Overview of all Special Statistical Publications
The Special Statistical Publications contain methodological, legal and reporting-related information on the Bundesbank’s statistics.
As of 16 April 2020, Special Statistical Publications 3, 4, 5, 6 and 10 have been switched to a new format and are being continued as Statistical Series. This page shows only archived issues. The relevant titles link to the current issue of the Statistical Series in question.
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Statistische Sonderveröffentlichung 3 - Archiv
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The Lehman-insolvency and the financial crisis
The insolvency of LBHI in September 2008 was the culmination of events that had begun in the summer of 2007 as a crisis in the US real estate market. This brought the interbank market virtually to a standstill. Within a year, a crisis that had until then been confined to the United States had engulfed the global financial and economic system.
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Important note
The Deutsche Bundesbank has not been provided with any supervisory powers in the areas mentioned. The compliance system described here exclusively covers internal Bundesbank rules and mechanisms. In particular, the Deutsche Bundesbank is not responsible for receiving reports of violations of supervisory provisions, compliance with which is monitored by the Federal Financial Supervisory Authority (BaFin). In these cases, please contact BaFin if necessary.
Federal Financial Supervisory Authority
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Visitor address
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Postal address
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Joao Vitor Andrade Arce Pais
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Loan requests
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"Brutalism"
The architecture of the Bundesbank's tower building, Cash Department building and guest house at the Bank's Bockenheim campus is in the tradition of classical modernism and can be described as belonging to the Brutalist style. The French architect Le Corbusier coined the term "beton brut", or "raw concrete", meaning the grey unfinished surface of the raw reinforced concrete, which he used as a design feature in his buildings. This conspicuous use of reinforced concrete became an international trend in the 1960s and 1970s and was the preferred architectural style for public buildings around the world, including Germany. This style is characterised by the visibility of the construction and the use of raw, unprocessed building materials, which are not subsequently encased.
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The balance of payments
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International Central Bank DialogueThe Centre for International Central Bank Dialogue (CIC) assists central banks all over the world to set up and expand market-based central banking and banking supervision systems. In our film participants share their firsthand experiences and the new insights they gained from our seminars.
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Supervisory assessment of bank-internal capital adequacy concepts and their integration into firm-wide performance and risk management processes ("ICAAP") – realignment
24.05.2018 DE
Bundesbank and BaFin have jointly redrafted the 2011 ICAAP guideline and published it on 24.05.2018. The realignment of the paper was made necessary by developments at the global and European levels as well as ongoing changes in institutional and regulatory practices.
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Note: Revisions to the balance of payments for the reporting month April 2025
Outside the normal revision cycle, foreign trade, insurance services and transfers in connection with the EU budget have been revised from January 2024 onwards.
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Zur Person: Jim Yong Kim
Jim Yong Kim ist seit dem 1. Juli 2012 Präsident der Weltbank, in den Jahren von 2009 bis 2012 bekleidete der Arzt und Anthropologe das Amt des Präsidenten des Dartmouth College in den Vereinigten Staaten. Zuvor war Kim als Professor für Medizin und Sozialmedizin und Vorsitzender der Abteilung Weltgesundheit und Sozialmedizin an der Harvard Medical School tätig. Als Direktor der Abteilung HIV/Aids der Weltgesundheitsorganisation in den Jahren 2004 bis 2006 rief er umfangreiches Programm zur Bekämpfung der AIDS-Epidemie ins Leben.
Kim wurde am 8. Dezember 1959 im südkoreanischen Seoul geboren, wuchs aber ab seinem fünften Lebensjahr in den Vereinigten Staaten auf.
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