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Cover -- CONTENTS -- IMPACT OF MONETARY POLICY ON LUXEMBOURG -- A. Introduction -- B. Macroeconomic Impact of Monetary Policy in Luxembourg -- C. Impact of Monetary Policy on the Banking System -- D. Impact of Monetary Policy on the Investment Fund Industry -- E. Conclusions -- BOX -- 1. Econometric Model -- FIGURES -- 1. Impact of Monetary Policy on Interest Rates in Luxembourg -- 2. Accommodative Monetary Policy and Private Consumption -- 3. Domestically Oriented Banks' Performance -- 4. Evolution of Different Classes of Bond Funds -- TABLES -- 1. Monetary Policy Announcements -- 2. Impact of Short-Term Interest Rates on Net Inflows into Investment Funds -- 3. Impact of Short-Term Interest Rates on Redemptions from Investment Funds -- 4. Quantification -- 5. Interest Rate Scenario Analysis -- HOUSING MARKET: ASSESSMENT AND POLICY RECOMMENDATIONS -- A. Introduction -- B. Stylized Facts -- C. Are Residential Real Estate Prices Aligned with Fundamentals? -- D. Financial Stability Considerations -- E. Special Features of the Luxembourg Real Estate Market -- F. Conclusions and Policy Recommendations -- References -- BOX -- 1. A Model of Residential Real Estate Prices for Luxembourg -- FIGURES -- 1. Stylized Facts on Residential Real Estate Prices -- 2. Demand Pressures and Transactions -- 3. Mortgage Credit in Luxembourg -- TABLES -- 1. Rental Social Housing in Luxembourg-New Construction by Public Developers, 2015-18 -- 2. Taxation Measures Supporting Residential Real Estate Investment -- WORK-WELFARE TRADE-OFFS AND STRUCTURAL UNEMPLOYMENT IN LUXEMBOURG -- A. Overview of the Labor Market -- B. How Does the Tax-Benefits System Affect Work Incentives? -- C. Modeling the Effects of the Tax-Benefits System on Labor Market Outcomes -- D. Conclusions -- References -- FIGURES -- 1. Unemployment and Skills Mismatches.

Provides an overview of politics in Luxembourg in 1999, highlighting election results & prominent issues. 4 Tables, 3 References. Adapted from the source document.

Cover -- CONTENTS -- CONTEXT -- RECENT DEVELOPMENTS -- OUTLOOK AND RISKS -- POLICIES -- A. Fiscal Policy: Maintaining Strong Buffers -- B. Financial Sector: Enhancing Resilience Against Increasing Risks -- C. Structural Reforms: Preparing for Long-Term Challenges -- STAFF APPRAISAL -- FIGURES -- 1. Real Economy and Inflation -- 2. Financial Sector Developments -- 3. Fiscal Sector Developments -- 4. External Sector Developments -- 5. Indicators of Fiscal Vulnerabilities -- 6. Labor Market Developments -- 7. Indicators of Infrastructure and Efficiency Gaps -- TABLES -- 1. Selected Economic Indicators, 2015-24 -- 2. Balance of Payments, 2015-24 -- 3. General Government Operations, 2015-24 -- 4. General Government Financial Balance Sheet, 2014-17 -- 5. Luxembourg: International Investment Position, 2013-181/ -- 6. Financial Soundness Indicators, 2013-18 -- 7. Luxembourg: Public Sector Debt Sustainability Analysis (DSA)-Baseline Scenario -- 8. Public DSA-Composition of Public Debt and Alternative Scenarios -- 9. Risk Assessment Matrix -- APPENDICES -- I. Implementation of BEPS Actions in Luxembourg -- II. External Sector Assessment -- III. Implementation Status FSAP Update 2017 Recommendations -- CONTENTS -- FUND RELATIONS -- STATISTICAL ISSUES.

In 2003, Luxembourg saw institutional changes related to electoral law, the constitutional reform process, popular initiative in legislation, & citizen-civil service conflict resolution. A slight budget deficit was presented for 2004, a rarity for Luxembourg but deemed necessary in light of weak economic growth. Belgian, French, & German trade unions demonstrated in Luxembourg against the prospect of employment cuts in their countries. Developments in education are touched on along with tax policy harmonization vis-a-vis the European Union. In addition, the issue of which country pays unemployment benefits in the EU was of interest to Luxembourg. Developments regarding the European Convention are outlined. Public opinion was strongly against the US invasion of Iraq. 1 Table, 7 References. J. Zendejas

Cover -- CONTENTS -- THE PENSION SYSTEM IN LUXEMBOURG -- A. Introduction -- B. Cross-Country Comparison -- C. Overview of Luxembourg's Pension System and the 2012 Reform -- D. Baseline Projections Under a No-Policy Change Scenario -- E. Reform Options and Macroeconomic Trade-Offs -- F. Conclusions -- FIGURES -- 1. Cross-Country Comparison of Pension Systems -- 2. Uncertainty Around Baseline Estimations -- References.

Analyzes election results and cabinet changes in Luxembourg during 2004. Tables, References.

Cover -- CONTENTS -- Glossary -- EXECUTIVE SUMMARY -- INTRODUCTION -- A. Scope and Approach -- B. Institutional Setting -- C. Market Structure -- MAIN FINDINGS -- A. Findings from the 2011 BCP Assessment -- B. Independence, Objectives, etc., of the CSSF -- C. Resources and Skills in Banking Supervision -- D. Supervisory Approach -- E. Interconnectedness with Foreign-based Banking Parent Groups -- F. Corrective and Remedial Powers -- G. Home-host Relationships -- H. Credit Risk -- I. Regulation of Nonbank Holding Companies -- J. Conclusion -- BOXES -- 1. Exemption for Intra-Group Exposures -- 2. Investment Funds-Bank Linkages -- FIGURE -- 1. Evolution of House Prices -- TABLES -- 1. Main Recommendations -- 2. Distribution of Bank Assets per Business -- 3. Actions Taken by the Authorities to Address 2011 FSAP Recommendations -- 4. CSSF Staff Numbers -- 5. Risk Areas -- 6. Exposure to Public Administrations by Luxembourg Banks.

Auflistung der Mitglieder der seit Juli 1989 regierenden Zwei-Parteien-Koalition, bestehend aus der Christlich-sozialen Volkspartei und der Luxemburger Sozialistischen Arbeiter-Partei und kurzer Überblick über die Hauptthemen der nationalen Politik im Jahr 1991

The year 2015 was a paradoxical one for Luxembourg. Its first half saw the government carrying its task of 'nation branding', trying to change its image (of tax haven and socially conservative policies) with a step toward a greater separation between church and state, several potential constitutional reforms aimed at a more inclusive democracy, and more indirectly through Prime Minister Bettel, who married his male companion less than a year after the adoption of gay marriage in the Grand-Duchy. Popular resentment regarding the exclusion of the Christian Social People's Party (CSV) from government still loomed large, and partially explained the disastrous defeat of a consultative referendum for the tripartite coalition.

THIS ARTICLE EXPLORES ELECTIONS IN LUXEMBOURG AS ONE EC MEMBER STATE IN WHICH, IN TERMS OF OUTCOME AND CAMPAIGNING, EUROPEAN ELECTIONS MATTER THE LEAST. THE TECHNICAL FEATURES & THE COUNTRY'S SMALL SIZE AND CONSEQUENT HIGH RATIO OF CANDIDATES TO VOTERS, COMBINE TO MAKE 'PERSONALIZED' VOTING MUCH MORE IMPORTANT IN LUXEMBOURG THAN IN ANY OTHER EC MEMBER STATE. THE POLITICAL PARTIES, THE CAMPAIGN ISSUES, AND THE EUROPEAN CAMPAIGN ARE EACH EXAMINED AND THE RESULTS ARE DETAILED.