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September 7, 2021

Optimal capital ratios for banks in the euro area

Capital buffers help banks to absorb financial shocks. This reduces the risk of a banking crisis. However, on the other hand capital requirements for banks can also lead to social costs, as rising financing costs can lead to higher interest rates for customers. In this research we make an exploratory analysis of the costs and benefits of capital buffers for groups of European countries.

No title
June 7, 2019

Estimates of the Financial Cycle for Advanced Economies

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...

June 7, 2019

Estimating the Impact of the Financial Cycle on Fiscal Policy

We investigate the impact of the financial cycle on the effectiveness of fiscal policy.

No title
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.

November 2, 2015

An estimated DSGE model for the Netherlands with unemployment

The Lucas critique is an important problem for economic policy analysis.

No title