We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. What is novel about our contribution is that we were given details of a randomized interest rate experiment conducted by the lender between October 2006 and...

This report provides the results from an analysis of characteristics and operations of the EU’s illicit drugs market as called for by the European Commission. The study is a follow-up of the earlier European Commission study presenting an analysis of the developments of the global illicit...

Drugs and drug-related problems are major concerns for EU citizens and pose a threat to the safety and health of European society and its citizens. The use of drugs, particularly among young people, is at a historically high level. The European Commission has been studying the drug phenomenon in...

The public opinion poll analysed in this report was carried out in the fifteen Member States between 27 April and 10 June 2002 for Eurobarometer 57.2, at the request of the European Commission, Directorate-General for Justice and Home Affairs, and organised by the Press and Communication...

Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the transmission of monetary policy impulses and their impact on...

Based on the householdsu0092 utility maximisation, a closed form approximation of the consumption function is derived and the deep parameters of the consumption function are estimated using aggregate euro area data. The novel element in our approach is the parameterisation of the information...

Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge on the ECB’s objectives is far from perfect. Both a...