Using a newly assembled, consistent and disaggregated dataset (12 goods and 7 services) on internal and bilateral trade … for 25 European countries, we analyse the difference between trade in goods and services. The measurement of both trade in … goods and trade in services is improved over earlier research, allowing us to compare trade in goods and services in a …

The CLASS model is a top-down capital stress testing framework that projects the effect of different macroeconomic … industry capital gap relative to a target ratio at different points in time under a common stressful macroeconomic scenario …. This estimated capital gap began rising four years before the financial crisis and peaked at the end of 2008. The gap has …