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February 6, 2018

The effects of unconventional monetary policy in the euro area

How effective are unconventional monetary policies? Through which mechanisms do they work? This discussion paper contains a detailed presentation of the new scientific evidence we reported in the policy brief, and adds to the relatively scarce literature in this field.

August 15, 2017

Prijselasticiteit van het woningaanbod

De aanbodelasticiteit van de Nederlandse woningmarkt empirisch geanalyseerd.

June 21, 2017

The Performance of Publicly Managed Venture Capital Funds

Governments, when designing support for venture capital financing, face a choice to either sponsor existing private VC funds or organize and manage their own public VC funds.

June 8, 2017

Back to normal monetary policy

The question is no longer if, but when and how unconventional monetary policy will be phased out. The undoing of the unconventional policies will affect European economies, just as their build up stimulated the euro area economy.

June 6, 2017

CPB Risicorapportage Financiële Markten 2017

Rapportage voor de Tweede Kamer over de internationale en nationale macro-economische ontwikkelingen in samenhang met ontwikkelingen in de financiële sector.

May 12, 2017

Collateral Damage? Decreasing House Prices and Entrepreneurial Lending

We study the effect of housing collateral on entrepreneurial lending in the Netherlands. This residential collateral channel is especially relevant for sole proprietors for whom there is no legal distinction between the owner and the business.

April 25, 2017

Tax arbitrage incentives for mortgage prepayment behavior: Evidence from Dutch micro data

This paper exploits a unique set of Dutch micro data to analyze the response in prepayment behavior to changes in incentives for prepaying.

March 24, 2017

The role of inflation-linked bonds

The market for inflation-linked bonds (ILBs) is growing, but still small when compared to the market for nominal bonds. This paper raises the question why governments do not rely more on ILBs to finance their public debts?

January 20, 2017

The effect of financial development on economic growth: a meta-analysis

The financial crisis has renewed interest in the finance-growth relationship. We analyze the empirical literature and find a moderate positive but decreasing effect of finance on growth.

January 16, 2017

In vier stappen naar efficiëntere faillissementswetgeving

Een stabiele welvaartsontwikkeling is gebaat bij een flexibele economie die snel kan inspelen op veranderende omstandigheden.