Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Special Papers
Jun 2017
SP 12
Paul De Grauwe, Yuemei Ji and Corrado Macchiarelli
Despite the partial realignment of European long-term government bonds after the crisis in 2012, there has been some renewed divergence in yields in the last years. We analyse the sources of these divergences and find that the government bond...
Opinion Pieces
May 2017
Brexit is likely to cause considerable disruption for financial markets. Some worry that it may also increase systemic risk. This column revisits the debate and argues that an increase in systemic risk is unlikely. While legal ‘plumbing...
Discussion Papers
May 2017
DP 69
Do employers in "non-STEM" occupations (e.g. Graphic Designers, Economists) seek to hire STEM (Science, Technology, Engineering, and Mathematics) graduates with a higher probability than non-STEM ones for knowledge and skills that they...
Discussion Papers
Mar 2017
DP 68
This Paper continues the study of the Optimal Consumption Function in a Brownian Model of Accumulation, see Part A [2001] and Part B  [2014]; a further Part D, dealing with the effects of perturbations of the Brownian model, is in preparation....
Discussion Papers
Mar 2017
DP 67
Franziska Bremus and Katja Neugebauer
This paper investigates how the withdrawal of banks from their cross-border business impacted the borrowing costs of European firms since the crisis. We combine aggregate information on total and cross-border credit with firm-level survey...
Discussion Papers
Mar 2017
DP 66
Jalal Etesami, Ali Habibnia and Negar Kiyavash
Financial instability and its destructive effects on the economy can lead to financial crises due to its contagion or spillover effects to other parts of the economy. Having an accurate measure of systemic risk gives central banks and policy makers...
Discussion Papers
Mar 2017
DP 65
Peter S. Eppinger and Katja Neugebauer
Economic research has often relied on a measure of external financial dependence that is constructed using U.S. data and applied to other countries under the assumption of a stable industry ranking across countries. We exploit unique survey data...
Discussion Papers
Feb 2017
DP 64
Steven D. Moffitt and Bill Ziemba
The Canadian 6/49 Lotto©, despite its unusual payout structure, is one of the few government sponsored lotteries that has the potential for a favourable strategy we call "buying the pot". By "buying the pot" we mean that a...
Discussion Papers
Jan 2017
DP 63
Viral Acharya and Guillaume Plantin
We study optimal monetary policy in the presence of financial stability concerns. We build a model in which monetary easing can lower the cost of capital for firms and restore the natural level of investment, but does also subsidize inefficient...
Opinion Pieces
Dec 2016
Discretionary macroprudential policies aim to be countercyclical by adjusting risk-taking across the financial cycle. This column argues that the opposite effect may happen in certain cases. Depending on how regulators measure risk and how they...

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