Publications

November 3, 2015

Macro-economics of balance-sheet problems and the liquidity trap

Macro-economics of balance-sheet problems and the liquidity trap, English, Pdf, 1.9 MB

Since 2010, nominal policy rates of central banks in most advanced economies have been close to zero. This is referred to as the zero lower bound on interest rates or as the liquidity trap. →

June 5, 2015

Lessons learnt from seven years of stagnation in the Eurozone

Lessons learnt from seven years of stagnation in the Eurozone, English, Pdf, 2.8 MB

Three lessons may be drawn from seven years of financial crisis. →

March 16, 2015

Assessment of the technical assumptions on exchange rates, oil prices and interest rates (CEP2015)

Assessment of the technical assumptions on exchange rates, oil prices and interest rates (CEP2015), English, Pdf, 2.1 MB

This CPB Background Document presents an assessment of the technical assumptions on the projections (short: projections) of four variables. →

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February 24, 2014

Measuring too-big-to-fail funding advantages from small banks’ CDS spreads

Measuring too-big-to-fail funding advantages from small banks’ CDS spreads , English, Pdf, 1.5 MB

Large banks derive a funding advantage from being too-big-to-fail, while small banks do not. →

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January 10, 2014

Government spending shocks, sovereign risk and the exchange rate regime

Government spending shocks, sovereign risk and the exchange rate regime, English, Pdf, 917.3 KB

We analyse the effects of fiscal expansions using a New Keynesian model and find that the reverse holds in the presence of sovereign default risk. →

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October 8, 2013

Presentation 'Early-warning indicators for debt sustainability'

Presentation 'Early-warning indicators for debt sustainability', English, Pdf, 1.6 MB

This is the presentation used by Casper van Ewijk and Jasper Lukkezen during a meeting to present the CPB Policy Brief 2013/08 'Early warning indicators for debt sustainability'. →

October 8, 2013