[...] Die vorliegende explorative Studie wurde von der Bertelsmann Stiftung initiiert. Unsere Absicht war es, Argumente für eine Berücksichtigung des europäischen Mehrwerts als Entscheidungskriterium zu sammeln, indem wir die Einsparungen und Verluste genau beziffern, die Ausgaben auf...

New infrastructure projects may affect CO2 emissions and, thus, cost benefit analyses for these projects require a value to apply for CO2. This may be based on the marginal social cost of emissions or on the carbon price resulting from present and future policies. This paper argues that both...

This study presents a cost-benefit analysis of euro adoption for the case of Bulgaria. Based on a review of existing similar studies for other East European EU member states, it outlines the basic types of potential costs and benefits of euro adoption, and applies them to the specific Bulgarian...

The paper proposes a framework for assessing the impact of system-wide and bank-level capital buffers. The assessment rests on a factor-augmented vector autoregression (FAVAR) model that relates individual bank adjustments to macroeconomic dynamics. We estimate FAVAR models individually for...