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Selected publications by BCL staff

 

[2018][2017][2016][2015][2014][2013][2012] [2011] [2010] [2009] [2008] [2007] [2006] [2005] [2004] [2003]

2018

  • Fève, P., A. Moura and O. Pierrard (2018): “Predetermined interest rates in an analytical RBC model”, Economics Letters 172: 12-15.
  • Mathä, T., 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 26(3): 15-49.
  • Moura, A. (2018) “Investment Shocks, Sticky Prices, and the Endogenous Relative Price of Investment”, Review of Economic Dynamics 27: 46-63.

2017

  • 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
    Compilation for Macroprudential Analysis
    46, Bank for International Settlements.
  • 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.
  • Marchiori, L., P. Pieretti and B. Zou (2017): "Immigration, occupational choice and public employment", Annales d’Economie et de Statistique – Annals of Economics and Statistics. Forthcoming.
  • 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.

2015

  • No publications

2014

2013

  • 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.

2012

  • 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.

2011

  • 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.

2010

  • 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.

2009

2008

2007

  • 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.

2006

  • 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.

2005

  • 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.

2004

  • 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.

2003

  • 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.