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Evaluating Indicators for Use in Setting the Countercyclical Capital Buffer
(01.03.2018)
International Journal of Central Banking 2 ; March 2018
International Journal of Central Banking 2 ; March 2018
The European Systemic Risk Board (ESRB) recently issued a recommendation on the use of early warning indicators in macroprudential decisions involving the countercyclical capital buffer (Basel III framework). In addition ...
Real-time uncertainty in budget planning : evidence from euro area countries
(15.10.2018)
Journal of Economic Policy Reform 4
Journal of Economic Policy Reform 4
Using rich panel data including potential output for euro area countries, we analyse budget balance forecasts and their errors. We find that budget balance forecasts are systematically biased and subject to mean reversion ...
Secrecy, information shocks, and corporate investment: Evidence from European Union countries
(15.05.2018)
Journal of International Financial Markets, Institutions and Money May ; 2018
Journal of International Financial Markets, Institutions and Money May ; 2018
This study examines how national culture affects corporate investment. We argue that national culture affects corporate investment efficiency through the level of secrecy that national culture exhibits. Using a sample of ...