Publications

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. →

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. →

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. →

The CPB World Trade Monitor (WTM) is an instrument for bringing together, aggregating, and summarizing worldwide monthly data on international trade and industrial production. →

This paper studies the impact of fiscal incentives on the choice of organizational form.To determine the fiscal incentive we construct the alternative before-tax income and simulate the tax incentive. →

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. →

Biomass Energy with Carbon Capture and Storage can reduce costs of EU’s Energy Roadmap with 15-75%. Background document to CPB Policy Brief 2017/02 →

This Background Document shows the results of a survey among international experts concerning the forecasting method of labour supply by economic research institutes and an analysis of the relation between labour supply and the business cycle. →

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. →

Flexible employment constitutes a relatively large and increasing share of the labour market in many countries. In this study, we analyse the extent to which the growth in flexible employment can be related to global economic trends and country-specific institutions. →