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June 4, 2019

Risicorapportage Financiële markten 2019

Publication (in Dutch only)

Er kan nog meer worden gedaan om de risico’s van centrale tegenpartijen (CCP's), omvangrijke Europese financiële instellingen, te verkleinen.

May 27, 2019

A budgetary stabilisation function

Publication

Een schokfonds in de eurozone is niet noodzakelijk voor het voortbestaan van de euro, maar kan de welvaart in Europa wel verhogen.

February 6, 2018

Effects of Unconventional Monetary Policy on European Corporate Credit

Publication

In this paper we investigate whether the targeted longer-term refinancing operations (TLTRO) and the asset purchase program (APP) led to lower interest rates on new corporate credit, and whether the signalling channel and the capital relief channel played any role in the transmission of these ECB policies.

February 6, 2018

The effects of unconventional monetary policy in the euro area

Publication

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.

December 27, 2016

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

Publication

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.

May 27, 2016

Determinants of long-term interest rates

Publication

The nominal long-term interest rate decreased in the past decades due to the decrease in (expected) inflation and in potential growth and due to changes in the age structure of the population.

January 16, 2015

The Regional Impact of Bilateral Investment Treaties on Foreign Direct Investment

Publication

We examine the impact of bilateral investment treaties (BITs) on bilateral FDI stocks using extensive data from 1985 until 2011.

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April 17, 2014

Cross-Country Insurance Mechanisms in Currency Unions: An Empirical Assessment

Publication

Countries in a monetary union can adjust to shocks either through internal or external mechanisms.

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December 10, 2013

Optimal bail-out policies under renegotiation

Publication

We study how the possibility of renegotiation affects optimal bail-out policies for countries under asymmetric information on a country's cost of reforms.

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December 9, 2013

Financial Shocks and Economic Activity in the Netherlands

Publication

An analysis of the effects of financial shocks on economic development in the euro area and the Netherlands in particular.

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