Publications

Until recently, macroeconomic theory provided at most a small role for the financial system to influence the real economy. This changed with the collapse of Lehman Brothers in 2008 and the financial crisis which... →

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. →

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