This report presents an overview of the theory of regulation in general, with special attention for the regulation of banks. Two theories of government regulation are described. The first, normative, theory uses market failures as the justification of government regulation. The second, positive,...

This paper reports on a study conducted on behalf of the Task Force on Electronic Money of the EMI Working Group on EU Payment Systems. For different scenarios the effects of electronic money on seigniorage income of central banks in the EU are calculated. It is shown that the consequences of...

In this paper an earlier study is extended in order to reflect insights of the endogenous growth theory. Labour productivity is not constant any more but reacts on public investment and the government deficit. The results of this research show that the current fiscal policy puts a much higher...

This report discusses two types of active labour market policy in The Netherlands, wage subsidies and direct job creation. The options for evaluation of these programs are analyzed. It is difficult to assess the effectiveness of this type of policy in a general sense. Separate evaluations of...

This paper describes a model in which monetary shocks have persistent real effects. Starting from the limited participation model of Christiano (1991) with capital adjustment costs as suggested by Dow (1995) it is confirmed that costs of equipment installation and restrictions on consumer...

This report provides a critical review of the Boskin-report and discusses possible implications for the cpi in the Netherlands. Moreover, two recent American suggestions to reduce the bias are discussed. The report concludes that although it is likely that the cpi overestimates the increase of...

This report contains two simulation studies to quantify the direct economic effects of the Marshall aid on the Dutch economy. The first model is a general empirical model and the other the 1962 macro-economic policy model of the Dutch CPB.

In this report a stochastic general equilibrium model is developed, which is intended for monetary policy analysis on a EU-level. The focus is on two central elements. First, liquidity effects of monetary policy are studied in the model. It appears that not only frictions on the credit markets,...