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This paper shows that a simple two-stage voting mechanism may implement a constrained optimal state dependent decision …
Persistent link: https://www.econbiz.de/10015301958
In this paper, we analyze how sources of political influence relate to the actual regulatory treatment of distressed banks and to the expectation of bank support provided by the government. We assemble a unique dataset that links U.S. banks' sources of influence (e.g., lobbying expenditures,...
Persistent link: https://www.econbiz.de/10015298388
This paper focuses on tenure driven productivity dynamics of a firm-worker match asa potential explanation of "unemployment volatility puzzle". We let new matches andcontinuing jobs differ by their productivity levels and by their sensitivity to aggregateproductivity shocks. As a result, new...
Persistent link: https://www.econbiz.de/10005866471
. In this paper we show analytically how differentarrangements could affect the voting behaviour of individual MPC members …
Persistent link: https://www.econbiz.de/10005866511
. In this paper we show analytically how different arrangements could affect the voting behaviour of individual MPC members …
Persistent link: https://www.econbiz.de/10005033411
committees benefits from voting insincerely accrue not only when a decision maker's vote is pivotal. As the number of voters … increases, the cost of voting insincerely declines in an open committee because the probability of being pivotal declines. This … is not the case in a closed committee where costs and benefits of insincere voting only arise when a voter is pivotal …
Persistent link: https://www.econbiz.de/10005222366
The change in macroeconomic conditions since the ECB's strategy review in 2021 towards an environment characterised by above-target inflation, high interest rates, and renewed concerns about elevated government debt has been a vocal reminder of the intricate interdependencies between monetary...
Persistent link: https://www.econbiz.de/10015321150
Persistent link: https://www.econbiz.de/10015322150
We provide a versatile nowcasting toolbox that supports three model classes (dynamic factor models, large Bayesian VAR, bridge equations) and offers methods to manage data selection and adjust for Covid-19 observations. The toolbox aims at simplifying two key tasks: creating new nowcasting...
Persistent link: https://www.econbiz.de/10015322225
The following sections provide a description of the methodology used as part of the Supervisory Review and Evaluation Process (SREP) for assessing the interest rate risk in the banking book (IRRBB) and credit spread risk in the banking book (CSRBB) of significant institutions. The ECB uses a...
Persistent link: https://www.econbiz.de/10015322326