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next generation EU instrument is more effective when financed using a tax on consumption. …
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The paper inspects the credit impact of policy instruments that are commonly applied to contain systemic risk. It employs detailed information on the use of capital-based, borrowerbased and liquidity-based instruments in 28 European Union countries in 1995-2017 and a macroeconomic panel setup....
Persistent link: https://www.econbiz.de/10012271556
We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...
Persistent link: https://www.econbiz.de/10011792134
the 28 member states of the European Union (EU) between 1995 and 2014. The Macroprudential Policies Evaluation Database … banks and supervisory authorities of all EU member states. This paper describes the design and structure of the new data set … and presents the first descriptive analysis of the use of policy measures with a macroprudential nature in the EU over the …
Persistent link: https://www.econbiz.de/10011779845
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We use scenario analysis to assess the macroeconomic effects of carbon transition policies aimed at mitigating climate change. To this end, we employ a version of the ECB's New Area-Wide Model (NAWM) augmented with a framework of disaggregated energy production and use, which distinguishes...
Persistent link: https://www.econbiz.de/10014315252