Suchergebnisse
Filter
60 Ergebnisse
Sortierung:
Disentangling the Bond-CDS Nexus: A Stress Test Model of the CDS Market
In: ECB Working Paper No. 1599
SSRN
Working paper
The Rise of South-South Trade: Does It Mean Less Dependence on the North?
In: Global Interdependence, Decoupling, and Recoupling, S. 155-166
SSRN
Has Emerging Asia Decoupled? An Analysis of Production and Trade Linkages Using the Asian International Input-Output Table
In: ECB Working Paper No. 993
SSRN
Productivity Shocks and Real Exchange Rates: A Reappraisal
In: ECB Working Paper No. 1046
SSRN
Housing and Equity Wealth Effects of Italian Households
In: ECB Working Paper No. 857
SSRN
Working paper
Exchange Rate Pass-Through in the Global Economy: The Role of Emerging Market Economies
In: ECB Working Paper No. 951
SSRN
Pension Schemes in the European Union: Challenges and Implications From Macroeconomic and Financial Stability Perspectives
In: ESRB Occasional Paper Series No. 2020/17
SSRN
Working paper
Pension Schemes in the European Union: Challenges and Implications from Macroeconomic and Financial Stability Perspectives
In: ESRB: Occasional Paper Series No. 2020/17
SSRN
Working paper
Macro-Financial Vulnerabilities and Future Financial Stress: Assessing Systemic Risks and Predicting Systemic Events
In: ECB Working Paper No. 1311
SSRN
Socio-economic development and fiscal policy: lessons from the cohesion countries for the new member states
This paper examines the link between socio-economic development and fiscal policy. We introduce an indicator for socio-economic development (SEDI) and investigate its relationship with different fiscal variables, using data for the cohesion countries, namely Greece, Portugal, Spain and Ireland for 1980-1999. We find that an improvement in the net lending position of the government, as well as a fall in the level of public debt, would be beneficial for socio-economic development in the medium term. Furthermore, fiscal consolidation is found to be more relevant for promoting socio-economic development in the cohesion countries than in the other EU-15 Member States. Our results provide support for incentives to curb spending, such as the fiscal criteria of the Maastricht Treaty or the Stability and Growth Pact.
BASE
Dating systemic financial stress episodes in the EU countries
This paper introduces a new methodology to date systemic financial stress events in a transparent, objective and reproducible way. The financial cycle is captured by a monthly country-specific financial stress index. Based on a Markov-switching model, high financial stress regimes are identified, and a simple algorithm is used to select those episodes of financial stress that are associated with a substantial negative impact on the real economy. By applying this framework to 27 European Union countries, the paper is a first attempt to provide a chronology of systemic financial stress episodes in addition to the expert-detected events that are currently available.
BASE
Assessing the Costs and Benefits of Capital-Based Macroprudential Policy
In: ESRB: Working Paper Series No. 2016/17
SSRN
Working paper
Assessing the Costs and Benefits of Capital-Based Macroprudential Policy
In: ECB Working Paper No. 1935
SSRN