Working Papers


  • 15-November-2016

    English, PDF, 1,340kb

    Can reforms promoting growth increase financial fragility? An empirical assessment

    Certain growth-promoting policies can have negative side-effects by increasing the vulnerability of economies to financial crises. Typical examples are greater openness to financial flows or more liberalised financial markets.

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  • 15-November-2016

    English, PDF, 1,325kb

    How do policies influence GDP tail risks?

    This paper explores the relationship between policy settings and extreme positive and negative growth events, what we call GDP tail risks, using quantile regression methods.

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  • 4-November-2016

    English, PDF, 1,522kb

    Betting the house in Denmark

    The Danish financial sector is big and there is a high degree of inter-connectedness between banks, mortgage institutions and pension funds.

  • 11-October-2016

    English

    The estimation of financial conditions indices for the major OECD countries

    This paper seeks to provide up to date financial conditions indices for six countries, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the euro area, updating earlier results by the OECD.

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  • 11-October-2016

    English

    Advance warning indicators of past severe GDP per capita recessions in Turkey

    The global financial crisis and its high economic and social costs have revived academic and policy interest in “early warning indicators” of crises. This paper aims to investigate the performance of vulnerability indicators as advance warning indicators of past severe GDP per capita recessions in Turkey.

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  • 30-September-2016

    English

    Boosting investment performance in Germany

    Non-residential investment has fallen over the past 20 years as a share of GDP and is now lower than in several other high-income OECD countries.

  • 27-July-2016

    English

    Priorities for completing the European Union's Single Market

    To support the recovery, structural reforms that yield short-run as well as long-run gains should be prioritised.

  • 3-March-2016

    English

    Monetary policy and inequality

    This paper analyses two-way interactions between monetary policy and inequality in selected advanced economies. In the context of a highly accommodative monetary stance over recent years, the analysis focuses on the effects of monetary policy on inequality over the business cycle via its impacts on returns on assets, the cost of debt servicing and asset prices.

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  • 18-February-2016

    English

    Policies to tame the housing cycle in Switzerland

    High house prices are being supported by very low interest rates, immigration-fuelled population growth and smaller family units, while demand is being bolstered by mortgage interest tax deductibility and institutional investors.

  • 10-February-2016

    English

    Household debt in OECD countries: stylised facts and policy issues

    This paper offers an overview of developments in household debt over the past decades across a large sample of OECD countries, highlighting both common trends and country specificities. It examines the vulnerabilities associated with high household debt for households, the financial system and the wider economy.

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