Many households have only one major asset, a house, which is usually financed through a mortgage contract. One of the most important financial decisions a household has to make is therefore the choice of mortgage type. These can be broadly described as falling into one of two categories: the...

We propose that the borrower’s ability to pay through a mortgage is a long-run house price fundamental and …find convincing evidence by means of cointegration tests, granger causality, and an elasticity of house prices with respect to ability to pay close to one. Ability to pay incorporates...

One of the distinguishing features of Belgian economics is that, from the early 1920s, so many of Belgium's best economists pursued postgraduate studies at top American universities, a case of 'temporary' migration. This was made possible by the fellowships granted by the Commission for Relief...

The creation of the National Bank of Belgium (NBB) in 1850 marked a fundamental reform of the Belgian financial system. It clearly aimed at rendering the financial system more crisis resistant, especially by restricting the leverage of the banking sector. The NBB, which received the privilege to...

We analyse the integration of wheat markets across 18 towns in the Austrian Low Countries during the second half of the 18th century and the relationship with the rapidly expanding paved road network in this period. We use a switching regression approach (threshold cointegration) to study...

We onderzoeken de haalbaarheid van een uitbreiding van de regionale rekeningen voor Vlaanderen met een input-outputtabel, overeenkomstig het nieuw ingevoerde ESR95 nationale rekeningensysteem. Dit is bijzonder nuttig ter ondersteuning van het beleid via impactanalyses. We belichten onder meer de...