During and after the financial crisis of 2007 and 2008 insecurity about the financial system has increased sharply. CPB conducts research into the functioning of financial markets and the effects of policy.
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.
CPB Discussion Paper 371 | 6 February 2018
36 pages | pdf document, 583 KB
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.
CPB Discussion Paper 372 | 6 February 2018
22 pages | pdf document, 383.8 KB
The main purpose of this document is to assess the financial situation of non-financial firms. In particular, the document provides answers to two questions. Are there financial fragilities in Dutch non-financial firms? If yes, for which particular type of firms?
CPB Communication | 23 August 2017
30 pages | pdf document, 546.4 KB
This paper presents empirical evidence of both the determinants and the adjustment speed of capital structure of small and medium-sized enterprises (SMEs) in the Netherlands.
CPB Discussion Paper 357 | 15 August 2017
28 pages | pdf document, 1.3 MB
Governments, when designing support for venture capital financing, face a choice to either sponsor existing private VC funds or organize and manage their own public VC funds.
CPB Discussion Paper 355 | 21 June 2017
16 pages | pdf document, 1.2 MB
ISBN 978-90-5833-778-8 | Go to publication
