We provide a common framework that relates traditional event study estimation methods in finance with a modern approach for causal event studies. This framework is called synthetic portfolio and is a particular case of synthetic control methods. We provide a simulation exercise and an empirical...

Spanish Abstract: En 2014 el Ministerio de Educación Nacional de Colombia lanzó el programa Ser Pilo Paga como parte del objetivo de convertir el país en el más educado de América Latina en el 2025. Desde su creación, el programa ha beneficiado a más de 30,000 jóvenes de escasos recursos...

pt. 1. Migrant labour and 'quality' food products -- pt. 2. Social (un)sustainability of intensive agriculture : migrant labour in supply chains 'under pressure' in Southern Europe -- pt. 3. Restructuring of agri-food systems in Maghreb and Middle-East -- pt. 4. Restructuring of agricultural...

In December 2013 the National Bank of Belgium introduced a sectoral capital requirement aimed at strengthening the resilience of Belgian banks against adverse developments in the real estate market. This paper assesses the impact of this macroprudential measure on mortgage lending. Our results...

This paper presents a novel methodology to calculate thresholds in an early warning signalling framework for extracting signals useful to predict the occurrence of banking crises. The conditional moments based methodology does not rely on assumptions on an objective function trading off Type I...

Financial institutions are connected to each other by a series of bilateral transactions. In normal times, institutions' connections may result in efficient risk transfer. But in crises, connections can facilitate contagion - as initial problems lead to chains of defaults and liquidity shortages...

This Occasional Paper presents a formal statistical evaluation of potential early warning indicators for real estate-related banking crises. Relying on data on real estate-related banking crises for 25 EU countries, a signalling approach is applied in both a non-parametric and a parametric...

In December 2013 the National Bank of Belgium introduced a sectoral capital requirement aimed at strengthening the resilience of Belgian banks against adverse developments in the real estate market. This paper assesses the impact of this macroprudential measure on mortgage lending spreads. Our...