This two-part working paper series represents a distillation of practical approaches with regard to the successful management of so-called “legacy assets” which include both impaired as well as non-performing loans, particularly in those in the real estate and property sectors. This two-part...

This two-part working paper series represents a distillation of practical approaches with regard to the successful management of so-called “legacy assets” which include both impaired as well as non-performing loans, particularly in those in the real estate and property sectors. This two-part...

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact...

We investigate the empirical significance of borrowing constraints in the market for consumer loans. We set up a theoretical model of consumer loan demand, which in the presence of credit rationing implies restrictions on the elasticities of loan demand with respect to the interest rate and the...

This paper addresses factors which have prompted the need for further revision of banking regulation, with particular reference to the Capital Requirements Directive. The Capital Requirements Directive (CRD), which comprises the 2006/48/EC Directive on the taking up and pursuit of the business...

All economists should be conversant with "what happened?" during the financial crisis of 2007-2009. We select and summarize 16 documents, including academic papers and reports from regulatory and international agencies. This reading list covers the key facts and mechanisms in the build-up of...

Trata de responder al interrogante básico que dio origen al trabajo y considera la coyuntura más reciente.

Este capítulo versa sobre algunos aspectos teóricos recogidos de la bibliografía sobre la "felicidad" y sobre la medición subjetiva del bienestar económico, tal como es autopercibido por las personas. Para ello, nos basaremos en los datos de algunas encuestas de opinión pública...

El texto intenta explicar la paradoja que ha surgido entre el crecimiento económico relativamente satisfactorio del país y el creciente malestar de la población. Para ello, no solo se recurre a hipótesis basadas en las variables macro y mesoeconómicas tradicionales, así como las de corte...

The 2011 Human Development Report argues that the urgent global challenges of sustainability and equity must be addressed together – and identifies policies on the national and global level that could spur mutually reinforcing progress towards these interlinked goals. Bold action is needed on...