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Yield curve modelling and a conceptual framework for estimating yield curves : evidence from the European Central Bank's yield curves

Nymand-Andersen, Per - 2018

The European Central Bank (ECB), as part of its forward-looking strategy, needs high-quality financial market statistical indicators as a means to facilitate evidence-based and sound decision-making. Such indicators include timely market intelligence and information to gauge investors'...

Persistent link: https://www.econbiz.de/10011793477

Cryptocurrencies: an empirical view from a tax perspective

Thiemann, Andreas - 2021

available empirical estimate, shared by Chainalysis, this paper simulates the revenue potential from taxing Bitcoin capital … gains in the EU. Total estimated Bitcoin capital gains in the EU amount to 12.7 billion EUR in 2020, including 3.6 billion … EUR of realized gains. Applying national tax rules on capital gains from shares to those from Bitcoin yields a simulated …

Persistent link: https://www.econbiz.de/10012605841

Secular stagnation : evidence and implications for economic policy

Rawdanowicz, Łukasz; Bouis, Romain; Inaba, Kei-Ichiro; … - 2014

This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy interest rates bounded at zero fail to stimulate demand sufficiently, due to low or negative neutral real interest rates and low inflation, and when ensuing...

Persistent link: https://www.econbiz.de/10010464897

A quantitative analysis of the countercyclical capital buffer

Faria-e-Castro, Miguel - 2021

What are the quantitative macroeconomic effects of the countercyclical capital buffer (CCyB)? I study this question in a nonlinear DSGE model with occasional financial crises, which is calibrated and combined with US data to estimate sequences of structural shocks. Raising capital buffers during...

Persistent link: https://www.econbiz.de/10012550321

The case for central bank independence : a review of key issues in the international debate

Dall’Orto Mas, Rodolfo; Vonessen, Benjamin; Fehlker, … - 2020

This Occasional Paper analyses how significant expansions in central banks' mandates, roles and instruments can result in challenges to the independence of monetary policy. The paper reviews, in particular, some of the key challenges to central bank independence brought about by the global...

Persistent link: https://www.econbiz.de/10012298570

An appropriate model for the estimation of consumer time expenditure patterns on the internet

Cooper, Russel John - 2013

IPTS recently acquired a consumer internet clickstream database containing the full set of annual (2011) clickstream records for about 25.000 internet users in the five largest EU economies (UK, Germany, France, Italy and Spain). It contains time spend on each webpage and socio-economic...

Persistent link: https://www.econbiz.de/10011979299

Fiscal decentralisation in Colombia : new evidence regarding sustainability, risk sharing and "fiscal fatigue"

Bousquet, Guillaume; Daude, Christian; De la … - 2015

Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. This paper analyses three aspects of fiscal performance for Colombia’s departments. First, it studies the sustainability aspects of subnational finances by estimating a fiscal reaction function....

Persistent link: https://www.econbiz.de/10011398841

The drivers of public health spending : integrating policies and institutions

De la Maisonneuve, Christine; Moreno-Serra, Rodrigo; … - 2016

This paper investigates the impact of policies and institutions on health expenditures for a large panel of OECD countries for the period 2000-10. We use a set of 20 policy and institutional indicators developed by the OECD characterising the main supply-side, demand-side, and public management,...

Persistent link: https://www.econbiz.de/10011577684

Quantifying the effects of online bullishness on international financial markets

Mao, Huina; Counts, Scott; Bollen, Johan - 2015

Computational methods to gauge investor sentiment from commonly used online data sources that rely on machine learning classifiers and lexicons have shown considerable promise, but suffer from measurement and classification errors. In our work, we develop a simple, direct and unambiguous...

Persistent link: https://www.econbiz.de/10011664041

Pockets of risk in European housing markets : then and now

Kelly, Jane; Le Blanc, Julia; Lydon, Reamonn - 2019

Using household survey data, we document evidence of a loosening of credit standards in Euro area countries that experienced a property price boom-and-bust cycle. Borrowers in these countries exhibited significantly higher loan-to-value (LTV) and loan-to-income (LTI) ratios in the run up to the...

Persistent link: https://www.econbiz.de/10011978833