This paper reports on a study conducted on behalf of the Task Force on Electronic Money of the EMI Working Group on EU Payment Systems. For different scenarios the effects of electronic money on seigniorage income of central banks in the EU are calculated. It is shown that the consequences of...

An updated version of the Nederlandsche Bank's generational accounting model is used to assess fiscal sustainability. The model gives net lifetime taxes for current and future generations. In addition, the same model is applied to make forecasts of budget deficit and debt in percentage of gdp....

This report discusses two types of active labour market policy in The Netherlands, wage subsidies and direct job creation. The options for evaluation of these programs are analyzed. It is difficult to assess the effectiveness of this type of policy in a general sense. Separate evaluations of...

This report presents an overview of the theory of regulation in general, with special attention for the regulation of banks. Two theories of government regulation are described. The first, normative, theory uses market failures as the justification of government regulation. The second, positive,...

In this paper an earlier study is extended in order to reflect insights of the endogenous growth theory. Labour productivity is not constant any more but reacts on public investment and the government deficit. The results of this research show that the current fiscal policy puts a much higher...

Currently, nearly 90% of all prices of consumer goods and services in the Netherlands are psychological, conveniently broken or round prices. After converting these 'attractive' guilder prices into euro using the official conversion rate, the resulting euro prices are generally not attractive....

In this report a stochastic general equilibrium model is developed, which is intended for monetary policy analysis on a EU-level. The focus is on two central elements. First, liquidity effects of monetary policy are studied in the model. It appears that not only frictions on the credit markets,...

This report provides a critical review of the Boskin-report and discusses possible implications for the cpi in the Netherlands. Moreover, two recent American suggestions to reduce the bias are discussed. The report concludes that although it is likely that the cpi overestimates the increase of...