Kopafbeelding publicaties CPB

Publications

Frontier firms and followers in the Netherlands: estimating productivity and identifying the frontier

This study shows that constructing a large dataset, which sufficiently covers all firm sizes, is a prerequisite for studying the divergence hypothesis. We merge datasets of individual firm and employee data in the years 20062015 for the Netherlands, resulting in a representative sample of corporations. We find no evidence of diverging productivity between firms on the national frontier and laggard firms.

CPB Background Document | 2 July 2018

60 pages | pdf document, 5.2 MB

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How do the Dutch Finance their Own House? – Descriptive Evidence from Administrative Data

We investigate the major financing components which are used to purchase a house in the Netherlands. This is important to shed more light on the effects of changing lending norms. We look at the full universe of housing transactions in the Netherlands by making use of administrative data from Statistics Netherlands (CBS) for the period 2006-2014.

CPB Background Document | 5 June 2018

26 pages | pdf document, 1.3 MB

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A Review on ESBies - The senior tranche of sovereign bond-backed securities

Safe assets, assets with low risk and high liquidity, are the cornerstone for modern financial systems. The biggest holders of safe assets are banks, which need to hold safe assets to meet capital and liquidity requirements. Safe assets also provide high-quality, liquid collateral for banks’ repo transactions. Besides, safe assets provide benchmarks for the price formation of other financial assets.

CPB Background Document | 5 June 2018

20 pages | pdf document, 868.6 KB

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Capital position of banks in the EMU: an analysis of Banking Union scenarios

This CPB Background Document provides details of the simulations of shocks to the capital position of banks in the EMU that underpins the Financial Risk Report 2018 of the CPB. This involves investigating the potential impact of two legacy problems on the capital position of banks. These problems are the high amount of government debt, especially in Italy, and the high level of non-performing loans on banks’ balance sheets.

CPB Background Document | 29 May 2018

20 pages | pdf document, 1.4 MB

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Forecasting long-term interest rates

The long-term interest rate in the Euro area is an important exogenous input in CPB macro-econometric models to project the world economy and the Dutch economy, so it is important to have a reliable projection for it. However, there were concerns about the CPB practice of forecasting the long-term interest rate, especially over the inconsistency of long-term interest rate projections in the short and medium term. Therefore, this document compares the old CPB practice with several alternative forecasting methods for long-term interest rates, and evaluates these methods.

CPB Background Document | 22 March 2018

26 pages | pdf document, 1.3 MB

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Cost-benefit analysis for flood risk management and water governance in the Netherlands: an overview of one century

The Netherlands is a global reference for flood risk management. This reputation is based on a mix of world-class civil engineering projects and innovative concepts of water governance. For more than a century, cost-benefit analysis has been an important tool for both flood risk management as well as water governance in the Netherlands. It has helped to select the most effective and efficient flood risk projects and to coordinate and reconcile the interests of various policy areas, levels of government and private stakeholders.

CPB Background Document | 22 August 2017

52 pages | pdf document, 1.7 MB

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Valuation of CO2 emissions in CBA: implications of the scenario study Welfare, Prosperity and the Human Environment

The scenario study Welfare, Prosperity and the Human Environment (WLO ) forecasts long-term developments on four topics, climate being one of them. The study’s climate scenarios have been constructed taking into account various ways of international collaboration on the climate issue around the world. The WLO climate scenarios are characterised by a CO2 emission budget for the rest of the century and an associated CO2 emission reduction target.

CPB Background Document | 6 December 2016

18 pages | pdf document, 1.6 MB

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Dependence on External Finance and SME Survival

This CPB Background Document addresses whether, in the aftermath of the financial crisis, default probabilities of firms that depend more on external finance were affected more negatively than default probabilities of less dependent firms.

CPB Background Document | 26 July 2016

pdf document, 858 KB

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Trade effects of Brexit for the Netherlands

On June 23th the United Kingdom (UK) will hold a referendum on its European Union’s (EU) membership. Brexit will occur in the event of a leave vote and this will have far-reaching consequences.

CPB Background Document | 9 June 2016

32 pages | pdf document, 1.3 MB

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Determinants of long-term interest rates

The nominal long-term interest rate decreased in the past decades due to the decrease in (expected) inflation and in potential growth and due to changes in the age structure of the population.

CPB Background Document | 27 May 2016

34 pages | pdf document, 1.9 MB

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