This paper describes a methodology to identify different components of external competitiveness using readily accessible, aggregate trade and macroeconomic data. Building on demand system with quadratic preferences, asymmetric varieties and heterogeneous consumers, it is shown how to use trade...

This document provides the technical description of a software to be developed in the context of the EUROCLIMA project. EUROCLIMA is a cooperation program between the European Union and Latin America with a special focus in knowledge sharing on topics related to socio-environmental problems...

This certification report describes the processing and characterisation of ERM-FA016aq, a batch of Charpy V certified reference test pieces. Sets of five of these test pieces are used for the verification of impact pendulums according to EN 10045-2 (Charpy impact test on metallic materials, Part...

The objective of this study is to provide a new evidence on time-varying equity market integration, employing alternative econometric specifications of the conditional covariance process. Differently from the current literature on the topic, we specify alternative econometric models for the...

Under the Basel II framework for capital adequacy of banks, regulatory financial collateral and guarantees (C&G ) can affect lending policy in both a micro and a macro perspective. This paper aims at assessing these effects throught the modelling of the impact of C&G on credit spreads. In doing...

Deposit Guarantee Schemes (DGS) aim at protecting depositors of all credit institutions against bank failures. One of the most critical issues about DGS concerns the criteria to be used to assess the risk‐based contribution that each member bank should pay to the Scheme. We propose an...

Derivative instruments attempt to protect a portfolio against failure events. Constant proportion portfolio insurance (CPPI) and constant proportion debt obligations (CPDO) strategies are recent innovations and have only been adopted in the credit market for the last couple of years. Since their...

By combining econometric estimations with the calibration of consumer expenditure data, this study estimates a linear expenditure system (LES) for the 27 EU countries. We use the EU Household Budget Survey (HBS) data for the reference years of 2010 and 2015, which provide data for about 275, 000...