This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...

This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates were persistently and significantly below...

This paper estimates agglomeration benefits across five OECD countries, and represents the first empirical analysis that combines evidence on agglomeration benefits and the productivity impact of metropolitan governance structures, while taking into account the potential sorting of individuals...

In estimating agglomeration benefits across five OECD countries, this paper represents the first empirical analysis that contrasts cross-country evidence on agglomeration benefits with the productivity impact of metropolitan governance structures, while taking into account the potential sorting...

This paper examines how structural policies can influence a country's risk of suffering financial turmoil. Using a panel of 184 developed and emerging economies from 1970 to 2009, the empirical analysis examines which structural policies can affect financial stability by either shaping the...

Sub-national governments (SNGs) are key players for public investment in OECD countries, responsible for nearly two-thirds of it. At the same time, both the well-being of the population and economic performance depend on an adequate provision of public services, which require public facilities...

Even though metropolitan areas account for half of the population, and an even larger share of economic activity of OECD countries, almost no systematic information on governance structures in these areas exists. This study – based on a novel data set – gives an overview of governance...

This paper provides an overview of country specific approaches to metropolitan area governance. It provides brief descriptions of the typical structures of metropolitan governance, with a particular focus on the involved organisations. It points out metropolitan areas that have unusual...