This paper compares securities settlement gross and netting architectures. It studies settlement risk arising from exogenous operational delays and compares settlement failures between the two architectures as functions of the length of the settlement interval under different market conditions....

Capital-labor substitution and total factor productivity (TFP) estimates are essential features of growth and income distribution models. In the context of a Monte Carlo exercise embodying balanced and near balanced growth, we demonstrate that the estimation of the substitution elasticity can be...

Justice, fundamental rights and citizenship policies are based on Europeans’ core values and principles – freedom, democracy, the rule of law, equality, tolerance, and respect of human rights. The Directorate-General for Justice’s overriding mission is to build a European Area of Justice...

The Annual Activity Report is a management report of the Director-General of DG HOME to the College of Commissioners. Annual Activity Reports are the main instrument of management accountability within the Commission and constitutes the basis on which the College takes political responsibility...

The Annual Activity Report is a management report of the Director-General of DG HOME to the College of Commissioners. It is the main instrument of management accountability within the Commission and constitutes the basis on which the Commission takes its responsibility for the management of...

This report gives an overview of the activities undertaken by the European Commission's Director-General for Migration and Home Affairs (DG HOME) in 2014. We report on the main policy challenges faced in 2014, the responses developed by DG HOME to those challenges and the resources used. In...

The Annual Activity Report is a management report of the Director-General of DG Home Affairs to the College of Commissioners. It is the main instrument of management accountability within the Commission and constitutes the basis on which the Commission takes its responsibility for the management...