This website of the Nederlandsche Bank (DNB) provides monetary and financial statistics for the Netherlands.

The paper presents an empirical analysis of the alledged transformation of the financial systems in the three major European economies, France, Germany and the UK. Based on a unified data set developed on the basis of national accounts statistics, and employing a new and consistent method of...

This paper shows how financial contracts might be redesigned to allow for banks to manage the idiosyncratic component for their own accounts.

Der vorliegende Beitrag stellt einen Versuch dar, die Zukunft des Bankwesens in Europa unter der spezifischen Fragestellung zu analysieren, ob sich trotz der offensichtlichen und gravierenden Änderungen informations-technologischer, regulatorischer und politischer Art im Umfeld der Banken die...

By using their financial reserves efficiently, pension funds can smooth shocks on assetreturns, and can thus facilitate intergenerational risk-sharing. In addition to the primarybenefit of improved time diversification, this form of risk allocation affords the additionalbenefit of allowing these...

Securitization was meant to disperse credit risk to those who were better able to bear it. In practice, securitization appears to have concentrated the risks in the financial intermediary sector itself. This paper outlines an accounting framework for the financial system for assessing the impact...

Investmentmanagement: Bei der indirekten Immobilieninvestition nimmt der Investor die Dienste eines so genannten Finanzintermediärs in Anspruch.Welche Wertschöpfung kann dieser Spezialist bewirken, und inwelchem Ausmass haben Investoren an dieser Wertschöpfung teil?

This paper examines the question to what extent premia for macroeconomic risks inbanking are sufficient to avoid banking crises. We investigate a competitive bankingsystem embedded in an overlapping-generations model subject to repeatedmacroeconomic shocks. We show that even if banks fully...

In a financial system where balance sheets are continuously marked to market, asset price changes show up immediately in changes in net worth, and elicit responses from financial intermediaries, who adjust the size of their balance sheets. We document evidence that marked to market leverage is...

We explore the pricing of variance risk by decomposing stocks' total variance into systematicand idiosyncratic return variances. While systematic variance risk exhibits a negative priceof risk, common shocks to the variances of idiosyncratic returns carry a large positive riskpremium. This...