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The (ir)relevance of the nominal lower bound for real yield curve analysis

Schupp, Fabian - 2020

I propose a new term structure model for euro area real and nominal interest rates which explicitly incorporates a time …

Persistent link: https://www.econbiz.de/10012222610

The incidence of VAT evasion

Asatryan, Zareh; Gomtsyan, David - 2020

Who benefits from the evasion of value added taxes (VAT)? Using a reform that enforced VAT on previously non-compliant large retailers in Armenia, we estimate a onethird passthrough of the tax burden on prices. This suggests that pre-enforcement evasion rents were broadly shared with consumers...

Persistent link: https://www.econbiz.de/10012230854

Austerity and distributional policy

Alpino, Matteo; Asatryan, Zareh; Blesse, Sebastian; … - 2020

What are the effects of austerity on distributional policy? We exploit the autonomy of Italian municipalities in setting non-linear income taxes and the exogenous introduction of a fiscal rule to show that austerity increases income tax progressivity. Consistent with this evidence, we find that...

Persistent link: https://www.econbiz.de/10012232031

Is hard Brexit detrimental to EU integration? : theory and evidence

Mikolajun, Irena; Viaene, Jean-Marie - In: Open economies review 30 (2019) 4, pp. 621-654

Persistent link: https://www.econbiz.de/10012155594

Redenomination risk and bank runs in a monetary union with and without deposit insurance schemes

Canofari, Paolo; Marcelletti, Alessandra; Messori, Marcello - In: Open economies review 31 (2020) 2, pp. 237-256

Persistent link: https://www.econbiz.de/10012229743

Euro area banks' interest rate risk exposure to level, slope and curvature swings in the yield curve

Foos, Daniel; Lütkebohmert-Holtz, Eva; Markovych, Mariia; … - 2017

This paper investigates interest rate risk exposures of listed euro area banks which fall under the Single Supervisory …

Persistent link: https://www.econbiz.de/10011712563

Liquidity provision as a monetary policy tool : the ECB's non-standard measures after the financial crisis

Quint, Dominic; Tristani, Oreste - 2017

We study the macroeconomic consequences of the money market tensions associated with the financial crisis in the euro … area. In a structural VAR, we identify a liquidity shock rooted in the interbank market and use its impulse response … persistent fall in investment. The shock can account for one third of the observed, large fall in euro area aggregate investment …

Persistent link: https://www.econbiz.de/10011764878

The relevance of the monetary model for the Euro/USD exchange rate determination : a long run perspective

Georgoutsos, Demetris A.; Kouretas, Georgios P. - In: Open economies review 28 (2017) 5, pp. 989-1010

Persistent link: https://www.econbiz.de/10011804530

With a little help from my friends : survey-based derivation of euro area short rate expectations at the effective lower bound

Geiger, Felix; Schupp, Fabian - 2018

-varying effective lower bound. These challenges all weigh heavily when estimating a DTSM for the euro area OIS yield curve. Against this …

Persistent link: https://www.econbiz.de/10011888340

Closing ranks between prevention and management of systemic crises : a proposal to couple the ESRB with the ESM

Thomasius, Sebastian - 2018 - This version: 28 August 2018

On the occasion of related proposals by the European Commission and the Eurogroup, this paper proposes to entrust the ESM with the hosting of the ESRB in the medium term. The novel proposal aims at strengthening the macro-prudential expertise of the ESM and at enhancing the independence of the...

Persistent link: https://www.econbiz.de/10011895915