Liste des encadrés publiés dans les Bulletins et les Revues de stabilité financière
Sélection de publications des agents de la BCL
[2024] [2023] [2022] [2021] [2020] [2019] [2018] [2017] [2016] [2015] [2014] [2013][2012] [2011] [2010] [2009] [2008] [2007] [2006] [2005] [2004] [2003]
Fève, P. and A. Moura (2024): Frictionless house-price momentum, Journal of Economic Dynamics and Control, 168, 105000. |
Giordana, G. and M. Ziegelmeyer (2024): Using household-level data to guide borrower-based macro-prudential policy, Empirical Economics, 66: 785–827. |
Girshina, A., T.Y. Mathä and M. Ziegelmeyer (2024): Peer effects in stock market participation: Evidence from immigration, The Review of Income and Wealth, 70(4): 1060-1088. |
Naidin, M.D., S.R. Waltl and M. Ziegelmeyer (2024): Objective housing sales and rent prices in representative household surveys: Implications for wealth, inequality, housing market and affordability statistics, The Review of Income and Wealth, forthcoming. |
Moura, A. and O. Pierrard (2024): Bayesian evaluation of DSGE models with housing and collateral effects, Annals of Economics and Statistics, 155: 91-124. |
Pascal, J. (2024): Artificial neural networks to solve dynamic programming problems: A bias-corrected Monte Carlo operator, Journal of Economic Dynamics and Control, 162, 104853. |
Pulina, G. (2024): Credit card debt puzzle: Evidence from the euro area, Economics Letters, 236, 111586. |
Pulina, G. (2024): Consumer debt in Luxembourg and the euro area, SUERF Policy Brief, 828. |
Carroni, E., M. Delogu and G. Pulina (2023): Technology adoption and specialized labor, International Economics, 173(C): 249–259. |
Garcia, P., P. Jacquinot, Č. Lenarčič, M. Lozej and K. Mavromatis (2023): Global models for a global pandemic: The impact of COVID-19 on small euro area economies, Journal of Macroeconomics, 77, 103551. |
Garcia Sanchez, P. (2023): Environmental risks and precautionary behaviour, Annals of Economics and Statistics, 150: 67–80. |
Giordana, G. and M.N. Pi Alperin (2023): Old age takes its toll: Long-run projections of health-related public expenditure in Luxembourg, Economics & Human Biology, 50(C), 101262. |
Han, Y., P. Pieretti and G. Pulina (2023): The impact of tax and infrastructure competition on the profitability of local firms, International Tax and Public Finance, 30: 281–304. |
Lindner, P., T.Y. Mathä, G. Pulina and M. Ziegelmeyer (2023): Borrowing constraints, own labour and homeownership, Applied Economics, 55(42): 4931–4945. |
Marchiori, L., J. Pascal and O. Pierrard (2023): (In)efficient commuting and migration choices: Theory and policy in an urban search model, Regional Science and Urban Economics, 102, 103936. |
Marchiori, L. and O. Pierrard (2023): Health Subsidies, Prevention and Welfare, Journal of Public Economic Theory, 25(6): 1304–1336. |
Moura, A. (2023): Trend breaks and the long-run implications of investment-specific technological progress, Applied Economics Letters, 30(16): 2270–2275. |
Ciccone, J., L. Marchiori and R. Morhs (2022): The flow-performance relationship of global investment funds, Journal of International Money and Finance, 127, 102690. |
Fegatelli, P. (2022): A central bank digital currency in a heterogeneous monetary union: Managing the effects on the bank lending channel, Journal of Macroeconomics, 71, 103392. |
Fève, P., A Moura and O. Pierrard (2022): The Fall in Shadow Banking and the Slow U.S. Recovery. Journal of Economic Dynamics and Control, 139, 104404. |
Garcia Sanchez, P. (2022): Learning, Uncertainty, and Monetary Policy, Annals of Economics and Statistics, 145: 5–28. |
Garcia Sanchez, P., P. Jacquinot, È. Lenarèiè, M. Lozej and K. Mavromatis (2022): Global models for a global pandemic: The impact of COVID-19 on small euro area economies, SUERF Policy Briefs, No. 272. |
Pulina, G. and Zanaj, S. (2022): Tax competition and phantom FDI, Journal of Public Economic Theory, 24(6): 1342–1363. |
Fegatelli, P. (2021): The one trillion euro CBDC: Issuing a digital euro without disrupting the bank lending channel, SUERF Policy Briefs, No. 209 (October). |
Marchiori, L. (2021) Monetary theory reversed: Virtual currency issuance and the inflation tax, Journal of International Money and Finance, 117(C), 102441. |
Fève, P., P. Garcia Sanchez, A. Moura and O. Pierrard (2021): Costly default and skewed business cycles, European Economic Review, 132, 103630. |
Mathä, T.Y., S. Millard, T. Rõõm, L. Wintr and R. Wyszyński (2021): Shocks and adjustments of firms: Evidence from a survey among European firms, Oxford Economic Papers, 73(3), 1008–1033. |
Moura, A. (2021): Are neutral and investment-specific technology shocks correlated? European Economic Review, 139, 103866. |
Giordana, G. and M. Ziegelmeyer (2020): Stress testing household balance sheets in Luxembourg, The Quarterly Review of Economics and Finance, 76: 115–138. |
Efstathiou, K., T.Y. Mathä, C. Veiga and L. Wintr (2019): Active labour market policy use in Luxembourg: Evidence from a firm survey, Journal of Labour Market Research, 53(1): 12 |
Fève, P., A. Moura and O. Pierrard (2019): Shadow banking and financial regulation: A small-scale DSGE perspective, Journal of Economic Dynamics and Control, 101: 130–144. |
Lydon, R., T.Y. Mathä and S. Millard (2019): Short-time work in the Great Recession: Firm-level evidence from 20 EU countries, IZA Journal of Labor Policy, 8:2. |
Efstathiou, K., T.Y. Mathä, C. Veiga and L. Wintr (2018): Short-time work in Luxembourg: Evidence from a firm survey , Journal of Labour Market Research, 52(1): 14. |
Fève, P., A. Moura and O. Pierrard (2018): Predetermined interest rates in an analytical RBC model, Economics Letters, 172: 12–15. |
Marchiori, L., P. Pieretti and B. Zou (2018): Immigration, occupational choice and public employment, Annals of Economics and Statistics, 131: 83–116. |
Mathä, T.Y., A. Porpiglia and M. Ziegelmeyer (2018): Wealth differences across borders and the effect of real estate price dynamics: Evidence from two household surveys, Journal of Income Distribution, 27(1): 1–35. |
Moura, A. (2018) Investment Shocks, Sticky Prices, and the Endogenous Relative Price of Investment, Review of Economic Dynamics, 27: 46–63. |
Bouchet, M., L. Marchiori, and O. Pierrard (2017): Pension reform in a worst case scenario: public finance versus political feasibility, Journal of Pension Economics and Finance, 16(2): 173–204. |
Ehrmann, M. and M. Ziegelmeyer (2017): Mortgage Choice in the Euro Area - Macroeconomic Determinants and the Effect of Monetary Policy on Debt, Journal of Money, Credit and Banking, 49(2-3): 469–494. |
Giordana, G. and I. Schumacher (2017): An empirical study on the impact of Basel III standards on banks’ default risk: The case of Luxembourg, Journal of Risk and Financial Management, 10(2): 8. |
Giordana, G. and M. Ziegelmeyer (2017): Household debt burden and financial vulnerability in Luxembourg, in IFC Bulletins chapters, in: Bank for International Settlements (ed.), Data Needs and Statistics |
Marchiori, L. and O. Pierrard (2017): How does global demand for financial services promote domestic growth in Luxembourg? A dynamic general equilibrium analysis, Economic Modelling, 62(C): 103–123. |
Marchiori, L., O. Pierrard and H. Sneessens (2017), The EU-US Unemployment Puzzle Revisited: Institutions, Demography and Capital Flows, Journal of Demographic Economics, 83(3): 259–305. |
Mathä, T.Y., A. Porpiglia and M. Ziegelmeyer (2017): Cross-border commuting and consuming An empirical investigation, Applied Economics, 49(20): 2011–2026. |
Mathä, T.Y., A. Porpiglia and M. Ziegelmeyer (2017): Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics, Journal of Housing Economics, 35: 1–12. |
Mathä, T.Y. and A. Shwachman Kaminaga (2017): Regional wages and Market potential in the enlarged EU: An empirical investigation, Applied Economics, 49(4): 376–385. |
2016
Arrondel, L., L. Bartilioro, P. Fessler, P. Lindner, T.Y. Mathä, C. Rampazzi, F. Savignac, T. Schmidt, M. Schürz and P. Vermeulen (2016): How do households allocate their assets? Stylised facts from the Eurosystem Household Finance and Consumption Survey, International Journal of Central Banking, 12(2): 129–220. |
Giordana, G. (2016): Welfare and Stochastic Dominance for the Measurement of Banks' Domestic Systemic Importance: Analytical Framework and Application, International Journal of Finance and Economics, 21(2): 192–208. |
Le Blanc, J., A. Porpiglia, F. Teppa, J. Zhu and M. Ziegelmeyer (2016): Household saving behaviour and credit constraints in the euro area, International Journal of Central Banking, 12(2): 15–69. |
Lodigiani, E., L. Marchiori and I-L Shen (2016): Revisiting the brain drain literature with insights from a dynamic general equilibrium world model, The World Economy, 39(4): 173–2014. |
Necker, S. and M. Ziegelmeyer (2016): Household Risk Taking after the Financial Crisis, The Quarterly Review of Economics and Finance, 59: 141–160. |
No publications |
Bucher-Koenen, T. and M. Ziegelmeyer (2014): Once burned, twice shy? Financial literacy and wealth losses during the financial crisis, Review of Finance, 18(6): 2215–2246. |
Jin, X. and F. Nadal de Simone (2014): Banking systemic vulnerabilities: A tail-risk dynamic CIMDO approach. Journal of Financial Stability, 14: 81–101. |
Jin, X. and F. Nadal De Simone (2014): A Framework for tracking changes in the intensity of investment funds’ systemic risk. Journal of Empirical Finance, 29: 343–368. |
Martin, D. and O. Pierrard (2014): On-the-job search and cyclical unemployment: Crowding out vs. vacancy effects. Journal of Economic Dynamics and Control, 44(3): 235–250. |
De la Croix, D., O. Pierrard and H. Sneessens (2013): Ageing and pensions in general equilibrium: labour market imperfections matter, Journal of Economic Dynamics and Control, 37(1): 104–124. |
Curi, C., P. Guarda, A. Lozano-Vivas and V. Zelenyuk (2013): Is foreign-bank efficiency in financial centers driven by home or host country characteristics? Journal of Productivity Analysis, 40(3): 367–385. |
Giordana, G. and I. Schumacher (2013): What are the bank-specific and macroeconomic drivers of banks’ leverage? Evidence from Luxembourg, Empirical Economics, 45(2): 905–928. |
Giordana, G. and I. Schumacher (2013): Bank liquidity risk and monetary policy. Empirical evidence on the impact of Basel III liquidity standards, International Review of Applied Economics, 27(5): 633–655. |
Guarda, P., A. Rouabah and M. Vardanyan (2013): Identifying bank outputs and inputs with a directional technology distance function, Journal of Productivity Analysis, 40(2): 185–195. |
Guarda, P., A. Rouabah and J. Theal (2013): An MVAR framework to capture extreme events in macro-prudential stress tests, Journal of Risk Model Validation, 7(4). |
Marchiori, L., I-L. Shen and F. Docquier (2013): Brain drain in globalization: A general equilibrium analysis from the source countries’ perspective, Economic Inquiry, 51(2): 1582–1602 |
Ziegelmeyer, M. (2013): Illuminate the unknown: Evaluation of imputation procedures based on the SAVE Survey, Advances in Statistical Analysis, 97(1): 49–76. |
Ziegelmeyer, M. and J. Nick (2013): Backing out of private pension provision – Lessons from Germany, Empirica – Journal of European Economics, 40(3): 505–539. |
Du Caju, P., C. Fuss and L. Wintr (2012): Sectoral differences in downward real wage rigidity: workforce composition, institutions, technology and competition, Journal for Labour Market Research, 45(1): 7–22. |
Du Caju, P., C. Fuss and L. Wintr (2012): Downward wage rigidity for different workers and firms, Brussels Economic Review, 55(1). |
Kabundi, A. and F. Nadal De Simone, (2012): Recent French relative export performance: Is there a competitiveness problem? Economic Modelling, 29: 1408–1435. |
Ziegelmeyer, M. (2012): Nursing home residents make a difference – The overestimation of saving rates at older ages, Economics Letters, 117(3): 569–572. |
Igan, D., N. Tamirisa, A. Kabundi, F. Nadal de Simone, M. Pinheiro (2011): Housing, credit, and real activity cycles: Characteristics and comovements, Journal of Housing Economics, 20(3): 210–231. |
Kabundi, A. and F. Nadal De Simone (2011): France in the global economy: a structural approximate dynamic factor model analysis, Empirical Economics, 41(2): 311–342. |
Lünnemann, P. and L. Wintr (2011): Price Stickiness in the US and Europe revisited: Evidence from internet prices, Oxford Bulletin of Economics and Statistics, 73(5): 593–621. |
Marchiori, L. (2011): Demographic trends and international capital flows in an integrated world, Economic Modelling, 28(5): 2100–2120. |
Mathä, T.Y. and O. Pierrard. (2011): Search in the product market and the real business cycle, Journal of Economic Dynamics and Control, 35: 1172–1191. |
De Walque, G., O. Pierrard and A. Rouabah (2010): Financial (in)stability, supervision and liquidity injections: a dynamic general approach, The Economic Journal, 120(549): 1234–1261. |
Fegatelli, P. (2010): The misconception of the option value of deposit insurance and the efficacy of nonriskbased capital requirements in the literature on bank capital regulation, Journal of Financial Stability, 6(2): 79–84. |
Lünnemann, P. and T.Y. Mathä. (2010): Consumer price behaviour in Luxembourg: evidence from micro CPI data, Managerial and Decision Economics, 31(2-3): 177–192. |
Lünnemann, P. and T.Y. Mathä. (2010): Rigidities and inflation persistence of services and regulated prices, Managerial and Decision Economics, 31(2-3): 193–208. |
De Walque, G., O. Pierrard, H. Sneessens and R. Wouters. (2009): Sequential bargaining in a New Keynesian Model with frictional unemployment and wage-staggering, Annals of Economics and Statistics, 96(2): 221–250. |
Guarda, P. and A. Rouabah. (2009): Output indicators for the banking sector, in Balling, M., E. Gnan, F. Lierman and J.-P. Schoder (eds.): Productivity in the Financial Services Sector. SUERF Studies 2009/4. |
Lünnemann, P. and T.Y. Mathä. (2009): Mean reversion and sales, Applied Economics Letters 16(12): 1271–1275. |
Mathä, T.Y. (2009): Regional mc parity: Do common pricing points reduce deviations from the law of one price? Review of World Economics / Weltwirtschaftliches Archiv, 145(1): 155–166. |
Mathä, T.Y. and L. Wintr (2009): Commuting flows across bordering regions: A Note, Applied Economics Letters, 16(7): 735–738. |
Pierrard, O. (2008): Commuters, residents and job competition, Regional Science and Urban Economics, 38(6): 565–577. |
Pierrard, O. and H. Sneessens (2008): Biased technological shocks, relative wage rigidities and low skilled unemployment, Scottish Journal of Political Economy, 55(3): 330–352. |
Fabiani, S., C. Loupias, M. Druant, I. Hernando, C. Kwapil, B. Landau, F. Martins, T.Y. Mathä, R. Sabbatini, H. Stahl, A. Stokman. (2007): Summary of results for the euro area, in Fabiani, S., C. Loupias, F. Martins and R. Sabbatini (eds.): Pricing Decisions in the Euro Area: How Firms Set Prices and Why, Oxford Univ. Press Chapter 2, pp. 32–52. |
Kokko, A., T.Y. Mathä and P. Gustavsson Tingvall. (2007): Regional integration and trade diversion in Europe, Integration and Trade Journal, 26: 205–245. |
Lünnemann, P. and T.Y. Mathä. (2007): A comparison based on international survey evidence, in Fabiani, S., C. Loupias, F. Martins and R. Sabbatini (eds.): Pricing Decisions in the Euro Area: How Firms Set Prices and Why, Oxford Univ. Press Chapter 12, pp. 185–199. |
Lünnemann, P. and T.Y. Mathä. (2007): A survey of price setting practices of Luxembourg firms, in Fabiani, S., C. Loupias, F. Martins and R. Sabbatini (eds.): Pricing Decisions in the Euro Area: How Firms Set Prices and Why, Oxford Univ. Press Chapter 8, pp. 124–139. |
Pierrard, O., J.-F. Fagnart and H. Sneessens. (2007): Microeconomic uncertainty and macroeconomic indeterminacy, European Economic Review, 51(6): 1564–1588. |
Rouabah, R. (2007): L'inflation et la rentabilité des actions: Une relation enigmatique et un casse-tête pour les banques centrales, Economie et Prévision, 177: 19–34. |
Sabbatini, R., L.J. Álvarez, E. Dhyne, M. Hoeberichts, H. Le Bihan, P. Lünnemann, F. Martins, F. Rumler, H. Stahl, P. Vermeulen, G. Veronese and J. Vilmunen. (2007): What quantitative micro data reveal about price setting behavior, in Fabiani, S., C. Loupias, F. Martins and R. Sabbatini (eds.): Pricing Decisions in the Euro Area: How Firms Set Prices and Why, Oxford Univ. Press Chapter 14, pp. 218–34. |
Altissimo, F., L. Bilke, A. Levin, T.Y. Mathä and B. Mojon. (2006): Sectoral and aggregate inflation dynamics in the euro area, Journal of the European Economic Association, 4(2-3): 585–593. |
Álvarez, L., E. Dhyne, M. Hoeberichts, C. Kwapil, H. Le Bihan, P. Lünnemann, F. Martins, R. Sabbatini, H. Stahl, P. Vermeulen and J. Vilmunen. (2006): Prices in the euro area: A summary of new micro-evidence, Journal of the European Economic Association, 4(2-3): 575–584. |
Blot, C. and F. Serranito. (2006): Convergence of fiscal policies in EMU: A unit-root test analysis with structural breaks, Applied Economics Letters, 13(4): 211–216. |
Bouchet, M. (2006): The transition from PAYGO to funding: Application to the Luxembourg private sector pension system, in Muralidhar, A. and Allegrezza, S. (eds.), Reforming European Pension Systems, Dutch University Press, pp. 223–292. |
Guarda, P. and A. Rouabah. (2006): Measuring banking output and productivity: A user cost approach to Luxembourg data, in Bandyopadhyay P. and G. Gupta (eds.): Measuring Productivity in Services: New Dimensions, Icfai University Press Chapter 10, pp. 232–246. |
Dhyne, E., L. Álvarez, H. Le Bihan, G. Veronese, D. Dias, J. Hoffmann, N. Jonker, P. Lünnemann, F. Rumler and J. Vilmunen. (2006): Price changes in the euro area and the United States: Some facts from individual consumer price data, Journal of Economic Perspectives, 20(2): 171–192. |
Fabiani, S., M. Druant, I. Hernando, C. Kwapil, B. Landau, C. Loupias, F. Martins, T.Y. Mathä, R. Sabbatini, H. Stahl and A. Stokman. (2006): What firms’ surveys tell us about price-setting behaviour in the euro area, International Journal of Central Banking, 2(3): 3–47. |
Mathä, T.Y. (2006): The Euro and price differences of individual products in an integrated cross-border area, Journal of Common Market Studies, 44(3): 563–580. |
Nguiffo-Boyom, M. (2006): Un indicateur de retournement conjoncturel pour la France: une application du modèle à facteur avec changements de régimes, Economie et Prévision, 172: 101-114. |
Blot, C. (2005): Sensibilité du taux de change aux chocs monétaires et budgétaires: Une analyse en termes de VAR des fluctuations de l’euro/dollar, Revue de OFCE, 93. |
Mathä, T.Y. (2005): Der Euro und weiterführende regionale Preiskonvergenz? Resultate aus der ‘Groß-Region’ um Luxemburg, Perspektiven der Wirtschaftspolitik, 6(1): 57-70. |
Friberg, R. and T.Y. Mathä. (2004): Does a common currency lead to (more) price equalization? The Case of psychological pricing points, Economics Letters, 84: 281–287. |
Lünnemann, P. and T.Y. Mathä. (2003): Monetary transmission: Empirical evidence from Luxembourg firm-level data, in Angeloni, I., A. Kashyap and B. Mojon, (eds.): Monetary Policy Transmission in the Euro Area, Cambridge Univ. Press. Chapter 12, pp. 212–220. |