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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....
Persistent link: https://www.econbiz.de/10009639464
We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...
Persistent link: https://www.econbiz.de/10009640368
We investigate the wage-setting behavior of French companies using an ad-hoc survey conducted specifically for this study. Our main results are the following. i) Wages are changed infrequently. The mean duration of wage contracts is one year. Wage changesoccur at regular intervals during the...
Persistent link: https://www.econbiz.de/10009640485
We use a novel disaggregate sectoral euro area data set with a regional breakdown to investigate price changes and suggest a new method to extract factors from over-lapping data blocks. This allows us to separately estimate aggregate, sectoral, country-specific and regional components of price...
Persistent link: https://www.econbiz.de/10009640773
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structural network. Second, both the process of Europeanisation and the process of regionalisation have stimulated co …-operation among subnational actors. Third, the implementation of the project has exposed a multi-level policy network with the pivotal …
Persistent link: https://www.econbiz.de/10009636511
importance of a multilayered network and pay equal attention to every layer of the transport network. The other issue that has … been criticised is the structure of the backbone network. While the development of the trans-European networks in western …. Even the backbone elements of the Transport Infrastructure Needs Assessment network, which enjoy priority today, still …
Persistent link: https://www.econbiz.de/10009636755
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