Heeringa and Lindh compare the experience of the Netherlands and Sweden with fiscal rules and procedures. They note that the two countries are relatively small open economies vulnerable to negative external economic developments and have remarkably similar budgetary experience. In both...

This paper presents a comprehensive framework for analyzing financial stress under scenarios with a disruptive transition to a low-carbon economy. This stress testing framework is designed to be readily applied by macroprudential supervisors or financial institutions. First, we construct stress...

This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house...