Publications

February 6, 2018

The effects of unconventional monetary policy in the euro area

How effective are unconventional monetary policies? Through which mechanisms do they work? This discussion paper contains a detailed presentation of the new scientific evidence we reported in the policy brief, and adds to the relatively scarce literature in this field.

June 8, 2017

Back to normal monetary policy

The question is no longer if, but when and how unconventional monetary policy will be phased out. The undoing of the unconventional policies will affect European economies, just as their build up stimulated the euro area economy.

March 9, 2017

Productivity Slowdown - Evidence for the Netherlands

This paper analyses how The Netherlands compares to other countries in terms of the productivity slowdown. It also includes a comparison of different sectors and tests possible explanatory variables.

December 27, 2016

Accounting for the Business Cycle Reduces the Estimated Losses from Systemic Banking Crises

We re-estimate the e ffects of systemic banking crises in industrialised countries reported by Cerra and Saxena with a model that includes transitory business cycle shocks.

August 17, 2016

Evidence on Dutch macroeconomic and sectoral productivity performance: Some stylised facts

Productivity is the key driver of long-run living standards. However, in recent years productivity growth has been low across the developed world.

January 12, 2016

Credit Supply Shocks in the Netherlands

This study looks at the effects of credit supply shocks in the Netherlands and provides estimates of how important credit supply disturbances have been for explaining the recent disappointing economic growth.

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December 11, 2015

The effects of CBS revisions on CPB forecasts

When CPB makes its official forecast it is based on preliminary estimates of economic growth by Statistics Netherlands.

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November 4, 2014

Presentation for OECD STEP 'Roads to recovery'

This presentation was used by Albert van der Horst at the OECD STEP meeting in Paris on October 30, 2014.