15-April-2011
English
This paper presents a stylised model in which either a savings glut or an exchange rate peg in emerging economies drives down the level of interest rates in advanced economies and, when it hits the zero-rate bound, produces a welfare loss.
15-April-2011
English
Interest rate pass-through during the global financial crisis: the case of SwedenA stable relationship between monetary policy rates and bank lending and deposit rates faced by consumers and companies is essential for the effective transmission of monetary policy decisions.
22-March-2011
English
Homeownership rates have increased significantly in many OECD countries over recent decades.
8-March-2011
English
Apparent characteristics of the Hungarian banking market such as large profits and high margins suggest weak competitive pressures. Weak competition in turn, may reduce efficiency in a lack of pressures to converge to marginal cost and to stimulate managerial efforts to reduce X-inefficiency.
22-February-2011
English
South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks.
17-February-2011
English
The estimated medium-term impact of Basel III implementation on GDP growth is in the range of -0.05 to -0.15 percentage point per annum.
18-January-2011
English
The Dutch occupational pension system has been successful in securing high asset accumulation to fund generous pension promises.
17-December-2010
English
As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates.
16-December-2010
English
This paper analyses the factors influencing the level and volatility of real house prices in a panel of OECD countries over the period 1980-2005.
15-December-2010
English
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.