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Housing and Equity Wealth Effects of Italian Households

Grant, Charles; Peltonen, Tuomas - de Nederlandsche Bank - 2005

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of … market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found …

Persistent link: https://www.econbiz.de/10005021843

Towards a framework for financial stability

Houben, Aerdt; Kakes, Jan; Schinasi, Garry - de Nederlandsche Bank - 2004

This study examines the emergence of financial stability as a key police objective. It discusses the underlying trends in the financial system, as well as the role of finance in relation to money, the real economy and public policy. Financial stability is defined in terms of its ability to help...

Persistent link: https://www.econbiz.de/10010945590

Remittances and Financial Openness

Beine, Michel; Lodigiani, Elisabetta; Vermeulen, Robert - de Nederlandsche Bank - 2011

Migrant remittances increased strongly since the 1980s, becoming an important and reliable source of funds for many developing countries. Therefore, there is a strong incentive for receiving countries to attract more remittances, especially through formal channels that turn to be either less...

Persistent link: https://www.econbiz.de/10009291635

China in 2006: An economist's view

Maier, Philipp - de Nederlandsche Bank - 2006

consumption goods. This report summarises insights from a trip to China, aimed at getting better understanding of how the Chinese …

Persistent link: https://www.econbiz.de/10010756022

Unconventional monetary policy of the ECB during the financial crisis: An assessment and new evidence

Pattipeilohy, Christiaan; End, Jan Willem van den; … - de Nederlandsche Bank - 2013

We first sketch how central banks have used unconventional monetary policy measures by using three indicators based on the composition of the balance sheet of eleven central banks. Our analysis suggests that although the ECB's balance sheet has increased dramatically during the crisis, the...

Persistent link: https://www.econbiz.de/10010757276

The role of fiscal policy in EMU: a simulation with EUROMON

Demertzis, M.; Peeters, H.M.M. - de Nederlandsche Bank - 2001

Country members of EMU as well as the United States have improved their fiscal positions during the course of the past decade. This article considers the impact of further government debt and deficit reductions in the EMU area. First the literature on government finance establishing the role of...

Persistent link: https://www.econbiz.de/10004970706

EUROMON-Scenarios for the Euro Area Economy

Els, P.J.A. van; Grob, S.G. - de Nederlandsche Bank - 2002

This paper presents a number of scenario analyses, based on simulating DNB's multi-country model EUROMON, for the euro area economy. The scenarios deal with monetary policy and budgetary policy actions, and with exogenous shocks such as changes in oil prices, asset prices and exchange rates. The...

Persistent link: https://www.econbiz.de/10005106712

The housing ladder, taxation, and borrowing constraints

Swank, Job; Kakes, Jan; Tieman, Alexander F. - de Nederlandsche Bank - 2002

Using a multi-tier model of the housing market, we show that both starters and movers benefit from mortgage interest deduction for higher income groups. However, such tax favouring also tends to facilitate house price explosions, especially when interest rates and downpayment ratios are low....

Persistent link: https://www.econbiz.de/10005106741

The impact of interest-rate subsidies on long-term household debt: evidence from a large program

Martins, Nuno; Villanueva, Ernesto - de Nederlandsche Bank - 2005

The responsiveness of long-term household debt to the interest rate is a crucial parameter for assessing the effectiveness of public policies aimed at promoting specific types of saving. This paper estimates the effect of a reform of a large program that subsidized mortgage interest rates on...

Persistent link: https://www.econbiz.de/10005030215

Immigratie vanuit historisch en economisch perspectief

Bosman, R.A.J. - de Nederlandsche Bank - 2003

This paper provides a survey of the economic literature on immigration. We first give an impression of immigration in the Netherlands in 1500-1960, followed by a discussion of the long term economic consequences of the mass migration preceding Word War I. We then discuss some literature which...

Persistent link: https://www.econbiz.de/10005030242