The movement of the level of house prices in the Netherlands between 1980 and 2007 is explainable fairly well by fundamental supply and demand factors. Empirical research has shown that the overvaluation of approximately 10% that existed in 2003 shrunk to approximately 0% in 2007. This was not...

There are two methods in use to determine the contributions of expenditure categories to economic growth. In the conventional 'international method', total imports are deducted from exports, whereas in what is known as the 'Dutch method', final and intermediary imports are allocated to all...

The composition of economic growth can be analyzed in two different ways. In the 'traditional method' for the decomposition of GDP growth, total imports are deducted from exports. This approach underestimates the importance of exports for the growth in GDP, and overestimates the importance of...

Over the course of the past few years, too much credit has been made available worldwide, due to financial innovation, overly optimistic expectations and loophole-ridden regulation. Regulatory supervisors have failed because they were unable to prevent this situation. Things took a bad turn...

This paper has two aims. First, it describes CPB's contribution on bilateral services trade data to version 7 of the GTAP database. Among others, it uses reliability indices to determine the quality of the data reported by exporting and importing countries. Second, this paper discusses briefly...

This memorandum presents some basic equalities and inequalities about rates of return in discrete time, without auto-correlation. The arithmetic and geometric means are discussed. Estimation of the expected payout and the median payout is discussed, including maximum likelihood estimation.

Innovation is a policy area in which the European Union (EU) has the competence to support, coordinate and supplement Member States policies according to the new Lisbon Treaty (2007). The Member States (MS) have the primacy in this area and the principles of subsidiarity and proportionality...

This study analyses macro wage elasticities on labour productivity, payroll taxes, average and marginal income tax, consumer and producer prices, the replacement ratio and the unemployment rate. The data have been analyzed in a meta analysis that relates differences in each elasticity of pay...

In this memorandum the optimal capacity of Combined Heat and Power (CHP) is derived, using a simple model with an analytical solution. The solution is expressed as the fraction of the time during which the heat demand exceeds the optimal CHP heat production capacity.

A shortage of teachers in primary and secondary schools in the Netherlands is expected in the near future as a large part of the current workforce will retire. Recently, the Dutch government has decided to increase wages of teachers. This paper qualitatively assesses the impact of three...