Search

Separating trading and banking: consequences for financial stability

Productivity, markups, and the aggregate gross output production function

Discriminating between fractional integration and spurious long memory

Progressive Taxation and Monetary Policy in a Currency Union

Structural Analysis with Classical and Bayesian Large Reduced Rank VARs

Cost-Minimal Investments into Conventional Generation Capacities under a Europe-Wide Renewables Policy

For the future development of the European electricity system, renewable generation is assigned a dominant role with the underlying aim to reduce the carbon intensity. This has direct implications for conventional, dispatchable generation capacities and their future development. The objective of this paper is to investigate the investments in conventional generation technologies for a given renewable ...

Perceived Personal Control Buffers Terminal Decline in Well-Being

Recent research has repeatedly demonstrated that well-being typically evinces precipitous deterioration close to the end of life. However, the determinants of individual differences in these terminal declines are not well understood. In this study, we examine the role of perceived personal control as a potential buffer against steep terminal declines in well-being. We applied single- and multiphase ...

Testing Regulatory Regimes for Power Transmission Expansion with Fluctuating Demand and Wind Generation

Adequate extension of electricity transmission networks is required for integrating fluctuating renewable energy sources, such as wind power, into electricity systems. We study the performance of different regulatory approaches for network expansion in the context of realistic demand patterns and fluctuating wind power. In particular, we are interested in the relative performance of a combined merchant-regulatory ...

Macro News and Bond Yield Spreads in the Euro Area

This paper analyses the effects of newspaper coverage of macro news on the spread between the yield on the 10-year German Bund and on sovereign bonds in eight countries belonging to the euro area (Belgium, France, Greece, Ireland, Italy, the Netherlands, Portugal and Spain) using daily data for the period 1999-2014. The econometric analysis is based on the estimation of a VAR-GARCH model. The results ...

The Comprehensive Assessment, the ECB’s New Role and Limits of a Common Supervision in the EU

Keynotes:Thomas Hoenig (Federal Deposit Insurance Corporation) and Erkki Liikanen (Bank of Finland)Speaker and Panelists: Prof. Arnoud Boot (University of Amsterdam), Costanza Bufalini (UniCredit), Andrea Enria (European Banking Authority), Markus Ferber (MEP/EVP, Econ), Sven Giegold (MEP/The Greens), Prof. Charles Goodhart (London School of Economics), Andrew Gracie (Bank of England), Dr. Levin...