reduction policy and on the specification of the labour market. The institutional settings analysed are related to the degree of … restriction in the second part of the analysis in order to test alternative (more rigid) labour market specifications. The major … beats not always unilateral actions. 3) Labour market rigidities play a crucial role to both, the double dividend and the …

economic efficiency and market functioning. However, as our model simulations indicate, national deposition targets will be …

euro area and for supervising all euro area banks in order to ensure their safety and soundness, some directly and some …

This paper presents an approach to a macroprudential stress test for the euro area banking system, comprising the 91 … largest euro area credit institutions across 19 countries. The approach involves modelling banks'reactions to changing … acknowledging a broad set of interactions and interdependencies between banks, other market participants, and the real economy. Our …

, as well as specific aspects of this policy area in a monetary union such as the euro area. The ECB's responsibilities …