This paper is motivated by the implementation of the new banking supervision structure in the European Union (EU) and the possible conflict of interest between monetary policy and the supervision authority within the European Central Bank (ECB). The empirical analysis considers the relationship...

This paper is motivated by the implementation of the new banking supervision structure in the European Union (EU) and the possible conflict of interest between monetary policy and the supervision authority within the European Central Bank (ECB). The empirical analysis considers the relationship...

The appearance of negative bond yields presents significant challenges for the fixed income markets, which mainly concern related forecasting models. The Nelson-Siegel-Svensson model (NSS) is one of the models that is most frequently used by central banks to estimate the term structure of...

This paper analyses the account of the benefits sub-system as well as its impact on the portfolio of Social Security Trust Fund (quot;FEFSSquot;). Section 2 describes state social security and the account projections of the benefits sub-system. Section 3 analyses the actuarial and financial...

Comme beaucoup d’autres pays européens, le Portugal a engagé des réformes de son systèmede retraite dans le but de fournir aux futurs retraités un revenu de remplacement suffisant tout enconciliant un juste équilibre entre les différents régimes. L’introduction de compléments...