The present report constitutes the Final Report of the “Study on the assessment of Regulation (EC) No 2201/2003 (‘Brussels IIa’ Regulation) and the policy options for its amendment”, carried out by Deloitte on behalf of the European Commission, Directorate-General for Justice. It...

The present report constitutes the Final Report of the “Study on the assessment of Regulation (EC) No 2201/2003 (‘Brussels IIa’ Regulation) and the policy options for its amendment”, carried out by Deloitte on behalf of the European Commission, Directorate-General for Justice. It...

This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...