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Real Pension Rights as a Control Mechanism for Pension Fund Solvency

Bikker, Jakob; Knaap, Thijs; Romp, Ward - de Nederlandsche Bank - 2011

-2007). The model describes how nominal pension rights are expanded, by e.g. indexation or backservice, or, on the contrary, how …

Persistent link: https://www.econbiz.de/10009275470

What drives pension indexation in turbulent times? An empirical examination of Dutch pension funds

Broeders, Dirk; Hilbers, Paul; Rijsbergen, David - de Nederlandsche Bank - 2013

This paper identifies the key factors driving indexation in turbulent economic times within defined benefit plans using … a unique panel dataset of 166 Dutch pension funds from 2007 to 2010. Key drivers of indexation are the funding ratio …, although the latter effect is nonlinear. The asset allocation has no significant effect on the level of provided indexation as …

Persistent link: https://www.econbiz.de/10010757288

Modelling Scenario Analysis and Macro Stress-testing

End, Jan Willem van den; Hoeberichts, Marco; Tabbae, Mostafa - de Nederlandsche Bank - 2006

Macro stress-testing has become an important tool to assess financial stability. This paper describes a tool kit for scenario analysis and macro stress-testing. It is based on a model which maps multivariate scenarios to banks' credit and interest rate risks by deterministic and stochastic...

Persistent link: https://www.econbiz.de/10005101857

The formation of European inflation expectations: One learning rule does not fit all

Strobach, Christina; Cruijsen, Carin van der - de Nederlandsche Bank - 2015

We empirically investigate how well different learning rules manage to explain the formation of household inflation expectations in six key member countries of the euro area. Our findings reveal a pronounced heterogeneity in the learning rules employed on the country level. While the expectation...

Persistent link: https://www.econbiz.de/10011272316

Consumers' Inflation Expectations and Monetary Policy in Europe

Berk, Jan Marc - de Nederlandsche Bank - 2000

This paper analyses the effects of monetary policy decisions on inflation expectations of European consumers. Using a novel approach that does not assume unbiasedness of expectations, which makes use of survey data on expected future as well as perceived past price developments and allows for...

Persistent link: https://www.econbiz.de/10005021884

Effects of ECB balance sheet policy announcements on inflation expectations

Moessner, Richhild - de Nederlandsche Bank - 2014

We investigate whether ECB balance sheet policy announcements in the wake of the global financial crisis have affected the ECB.s monetary policy credibility as measured by long-term inflation expectations, by looking at their effects on euro area inflation swap rates of maturities up to 10...

Persistent link: https://www.econbiz.de/10010752365

Inflation Expectations and Stability in an Overlapping Generations Experiment with Money Creation

Heemeijer, Peter; Hommes, Cars; Sonnemans, Joep; … - de Nederlandsche Bank - 2010

We investigate how non-specialists form inflation expectations by running an experiment using a basic Overlapping Generations (OLG) model. The participants of the experiment are students of the University of Amsterdam, who predict inflation during 50 successive periods and are rewarded based on...

Persistent link: https://www.econbiz.de/10008507034

How Anchored Are Inflation Expectations in EMU Countries?

Cruijsen, Carin van der; Demertzis, Maria - de Nederlandsche Bank - 2009

Anchored inflation expectations help stabilize inflation. Previous results indicate that monetary policy has been effective in breaking the link between actual and expected inflation at the euro area level. In this paper we examine whether this is also true at the national level. We define the...

Persistent link: https://www.econbiz.de/10008475756

Consumers' Inflation Expectations and Monetary Policy in Europe

Berk, J.M. - de Nederlandsche Bank - 2000

Persistent link: https://www.econbiz.de/10004970716

The anchoring of European inflation expectations

Berk, Jan Marc; Hebbink, Gerbert - de Nederlandsche Bank - 2006

This paper analyses the usefulness of direct measures of consumers' perceptions and expectations of inflation for monetary policy and investigates the degree to which these variables are anchored. We inter alia seek to xplore whether there is a difference in reaction of consumers in countries...

Persistent link: https://www.econbiz.de/10005106682