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Working papers

BCL working papers are a part of the research work performed by BCL staff. By clicking on one of the working papers, you will be led back to the French version of the site.

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Number Title   Author(s) Date
N° 92 The Eurosystem, the banking sector and the money market Paul Mercier June 2014
N° 91 Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics Thomas Y. Mathä
Alessandro Porpiglia, Michael Ziegelmeyer
June 2014
N° 90 Wealth differences across borders and the effect of real estate price dynamics: Evidence from two household surveys Thomas Y. Mathä
Alessandro Porpiglia, Michael Ziegelmeyer
Mai 2014
N° 89 Cross-border commuting and consuming: An empirical investigation Thomas Y. Mathä, Alessandro Porpiglia and Michael Ziegelmeyer March 2014
N° 88 2007-2013: This is what the Indicator told us - Evaluating the Performance of Real-Time Nowcasts from a Dynamic Factor Model Muriel Nguiffo-Boyom March 2014
N° 87 Déficit, Croissance et bien-être intergénérationnel: comment réformer les pensions au Luxembourg? Muriel Bouchet
Luca Marchiori, Olivier Pierrard
March 2014
N° 86 The Impact of the Exchange Rate on Luxemburg Equity Funds Mustafa Kultur
Romuald Morhs
February 2014
N° 85 Household Risk taking after the Financial Crisis Sarah Necker
Michael Ziegelmeyer
February 2014
N° 84 Household Risk Management and Actual Mortgage Choice in the Euro Area Michael Ehrmann
Michael Ziegelmeyer
February 2014
N° 83 News Shocks, Real Exchange Rates and International Co-Movements Kyriacos Lambrias July 2013
N° 82 Banking Systemic Vulnerabilities: A Tail-risk Dynamic CIMDO Approach Xisong Jin, Francisco Nadal De Simone January 2013
N° 81 Fluctuations économiques et dynamique de la constitution de provisions pour créances douteuses des banques luxembourgeoises Sabbah Gueddoudj January 2013
N° 80 The Determinants of Short Term Funding in Luxembourgish Banks Dirk Mevis October 2012
N° 79 An Empirical Study on the Impact of Basel III Standards on Banks' Default Risk: the Case of Luxembourg Gaston Giordana, Ingmar Schumacher October 2012
N° 78 Income, wealth and consumption of cross-border commuters to Luxembourg Thomas Mathä, Alessandro Porpiglia, Michael Ziegelmeyer October 2012
N° 77 Macroeconomic Conditions and Leverage in Monetary Financial Institutions: Comparing European countries and Luxembourg Gaston GIORDANA and Ingmar SCHUMACHER October 2012
N° 76 LOLA 2.0: Luxembourg OverLapping generation model for policy Analysis Luca Marchiori et Olivier Pierrard July 2012
N° 75 An Early-warning and Dynamic Forecasting Framework of Default Probabilities Xisong Jin et Francisco Nadal De Simone June 2012
N° 74 Backing out of private pension provision – Lessons from Germany Michael Ziegelmeyer et Julius Nick July 2012
N° 73 The Luxembourg household finance and consumption survey (LU-HFCS): Introduction and results Thomas Y. Mathä, Alessandro Porpiglia et Michael Ziegelmeyer May 2012
N° 72 A financial social accounting matrix (SAM) for Luxembourg Amela Hubic March 2012
N° 71 Macro - financial linkages: Evidence from country-specific Vars Paolo Guarda et Philippe Jeanfils March 2012
N° 70 How do firms adjust in a crisis? Evidence from a survey among Luxembourg firms Patrick LÜNNEMANN and Thomas Y. MATHÄ December 2011
N° 69 Demography, capital flows and unemployment Luca MARCHIORI, Olivier PIERRARD and Henri R. SNEESSENS October 2011
N° 68 IS FOREIGN-BANK EFFICIENCY IN FINANCIAL CENTERS DRIVEN BY HOME-COUNTRY CHARACTERISTICS? Claudia CURI, Paolo GUARDA, Ana LOZANO-VIVAS and Valentin ZELENYUK October 2011
N° 67 CHANGES IN BANK SPECIALISATION: COMPARING FOREIGN SUBSIDIAIRIES AND BRANCHES IN LUXEMBOURG Claudia CURI, Paolo GUARDA and Valentin ZELENYUK October 2011
N° 66 The leverage cycle in Luxembourg's banking sector Gaston GIORDANA and Ingmar SCHUMACHER October 2011
N° 65 Market and book based models of probability of default for developing macroprudential policy tools Xisong JIN and Francisco NADAL DE SIMONE October 2011
N° 64 On the job search and cyclical unemployment: crowding out vs. vacancy effets Daniel MARTIN and Olivier PIERRARD October 2011
N° 63 An MVAR Framework to Capture Extreme Events in Macro-Prudential Stress Tests Paolo GUARDA, Abdelaziz ROUABAH and John THEAL October 2011
N° 62 Aging and Pensions in General Equilibrium: Labor Market Imperfections Matter David de la CROIX, Olivier PIERRARD and Henri R. SNEESSENS July 2011
N° 61 The Impact of the Basel III Liquidity regulations on the Bank Lending Channel: a Luxembourg Case Study Gaston GIORDANA et Ingmar SCHUMACHER June 2011
N° 60 Subprime Consumer Credit Demand: Evidence from a Lender's Pricing Experiment Sule ALAN, Ruxandra DUMITRESCU and Gyongyi LORANTH February 2011
N° 59 Behavioural Characteristics and Financial Distress Yvonne McCarthy February 2011
N° 58 Household Sector Borrowing in the Euro Area: A Micro Data Perspective Ramón GÓMEZ-SALVADOR, Adriana LOJSCHOVA and Thomas WESTERMANN February 2011
N° 57 The Immigrant/Native Wealth Gap in Germany, Italy and Luxembourg Thomas Y. MATHÄ, Alessandro PORPIGLIA and Eva SIERMINSKA February 2011
N° 56 Wealth mobility and dynamics over entire individual working life cycles Stefan HOCHGUERTEL and Henry OHLSSON February 2011
N° 55 Inheritances and the Distribution of Wealth or whatever happened to the Great Inheritance Boom? Edward N. WOLFF and Maury GITTLEMAN February 2011
N° 54 Who lost the most? Financial Literacy, Cognitive Abilities and the Financial Crisis Tabea BUCHER-KOENEN and Michael ZIEGELMEYER February 2011
N° 53 Check in the Mail or more in the Paycheck: does the Effectiveness of Fiscal Stimulus depend on how it is delivered? Claudia SAHM, Metthew D. SHAPIRO and Joel SLEMROD February 2011
N° 52 Consumption and Initial Mortgage Conditions: Evidence from Survey Data Giacomo MASIER and Ernesto VILLANUEVA February 2011
N° 51 Financial Advice and Stock Market Participation Dimitris GEORGARAKOS and Roman INDERST February 2011
N° 50 Which Households use Banks? Evidence from the Transition Economies Thorsten BECK and Martin BROWN February 2011
N° 49 MONETARY POLICY TRANSMISSION AND MACROECONOMIC DYNAMICS IN LUXEMBOURG: RESULTS FROM A VAR ANALYSIS Romuald Mohrs December 2010
N° 48 Downward wage rigidity and automatic wage indexation: Evidence from monthly micro wage data Patrick Lünnemann and Ladislav Wintr August 2010
N° 47 Stress Testing: The Impact of Shocks on the Capital Needs of the Luxembourg Banking Sector Abdelaziz ROUABAH
John THEAL
23 August 2010
N° 46 The Misconception of the Option Value of Deposit Insurance and the Efficacy of Non-Risk-Based Capital Requirements in the Literature on Bank Capital Regulation Paolo Fegatelli 13 July 2010
N° 45 Market and Funding Liquidity Stress Testing of the Luxembourg Banking Sector Francisco Nadal De Simone and Franco Stragiotti 29 juin 2010
N° 44 The Role of Collateral Requirements in the Crisis: One Tool for Two Objectives? Paolo Fegatelli 23 March 2010
N° 43 Liquidity risk monitoring framework: A supervisory tool Franco Stragiotti et Štefan Rychtárik December 2009
N° 42 Stress testing and contingency funding plans: an analysis of current practices in the Luxembourg banking sector Franco Stragiotti December 2009
N° 41 Liquidity scenario analysis in the Luxembourg banking sector Štefan Rychtárik Septembre 2009
N° 40 Pros and Cons of various fiscal measures to stimulate the economy Carine Bouthevillain, John Caruana, Cristina Checherita, Jorge Cunha, Esther Gordo, Stephan Haroutunian, Geert Langenus, Amela Hubic, Bernhard Manzke, Javier J. Pérez, Pietro Tommasino September 2009
N° 39 Wages are flexible, aren’t they? Evidence from monthly micro wage data Patrick Lünnemann and Ladislav Wintr June 2009
N° 38 Inflation dynamics with labour market matching:assessing alternative specifications Kai Christoffel, James Costain, Gregory de Walque, Keith Kuester, Tobias Linzert, Stephen Millard, and Olivier Pierrard May 2009
N° 37 Regional wages and market potential in the enlarged EU: An empirical investigation Thomas Y. Mathä and Allison Shwachman April 2009
N° 36 LOLA 1.0 : Luxembourg OverLapping generation model for policy Analysis Olivier Pierrard and Henri R. Sneessens March 2009
N° 35 Financial (in)stability, supervision and liquidity injections: a dynamic general equilibrium approach Gregory de Walque, Olivier Pierrard and Abdelaziz Rouabah October 2008
N° 34 Regional mc parity: do common pricing points reduce deviations from the law of one price? Thomas Y. Mathä September 2008
N° 33 Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation Gregory de Walque, Olivier Pierrard, Henri Sneessens and Raf Wouters July 2008
N° 32 Search in the product market and the real business cycle Thomas Y. Mathä and Olivier Pierrard July 2008
N° 31 A monthly indicator of economic activity for Luxembourg Muriel Nguiffo-Boyom March 2008
N° 30 Eurosystem communication and financial market expectations Patrick Luennemann and Dirk Mevis March 2008
N° 29 Les taux d’intérêt des banques luxembourgeoises : une étude sur bases agrégée et individuelle Yann Wicky Février 2008
N° 28 An analysis of regional commuting flows in the European Union Jordan Marvakov and Thomas Y. Mathä November 2007
N° 27 Banking output & price indicators from quarterly reporting data Abdelaziz Rouabah and Paolo Guarda June 2007
N° 26 Commuters, residents and job competition in Luxembourg Olivier Pierrard May 2007
N° 25 Co-variation des taux de croissance sectoriels au luxembourg: l’apport des corrélations conditionnelles dynamiques Abdelaziz Rouabah Avril 2007
N° 24 Mesure de la vulnérabilité du secteur bancaire luxembourgeois Abdelaziz Rouabah Avril 2007
N° 23 The transition from payg to funding: Application to the Luxembourg privat sector pension system Muriel Bouchet July 2006
N° 22 Are Internet prices sticky ? Patrick Lünnemann and Ladislav Wintr June 2006
N° 21 La sensibilité de l’activité bancaire aux chocs macroéconomiques : une analyse en panel sur des données de banques luxembourgeoises Abdelaziz Rouabah Mai 2006
N° 20 Peut-on parler de bulle sur le marché immobilier au Luxembourg ? Christophe Blot Mai 2006
N° 19 New survey evidence on the pricing behavior of Luxembourg firms Patrick Lünnemann
Thomas Y. Mathä
May 2006
N° 18 L'identité de Fisher et l'interaction entre l'inflation et la rentabilité des actions: l'importance des régimes sous-jacents aux marchés boursiers Abdelaziz Rouabah Janvier 2006
N° 17 Consumer price behaviour in Luxembourg: evidence from micro CPI data Patrick Lünnemann
Thomas Y. Mathä
October 2005
N° 16 Cape Verde's exchange rate policy and its alternatives Romain Weber October 2005
N° 15 Estimating the natural interest rate for the euro area and Luxembourg Ladislav Wintr, Paolo Guarda
Abdelaziz Rouabah
June 2005
N° 14 Nominal rigidities and inflation persistence in Luxembourg: a comparison with EU 15 member countries with particular focus on services and regulated prices Patrick Lünnemann
Thomas Y. Mathä
April 2005
N° 13 Les déterminants du solde de la balance des transactions courantes au Luxembourg Abdelaziz Rouabah Février 2005
N° 12 Inflation persistence in Luxembourg a comparison with EU15 countries at the disaggregate level Patrick Lünnemann
Thomas Y. Mathä
November 2004
N° 11 The new keynesian Phillips curve: empirical results for Luxembourg Ieva Rubene
Paolo Guarda
June 2004
N° 10 Nouveaux instruments de paiement: une analyse du point de vue de la Banque centrale Li-Chun Yuan Novembre 2003
N° 9 Règle de Taylor : estimation et interprétation pour la zone euro et pour le Luxembourg Patrick Lünnemann
Abdelaziz Rouabah
Octobre 2003
N° 8 What to expect of the euro? Analysing price differences of individual products in Luxembourg and its surrounding regions Thomas Y. Mathä April 2003
N° 7 The analysis of risk and risk mitigation techniques in payment and securities settlement systems and the impact on central bank's oversight Simona Amati February 2003
N° 6 The sustainability of the private sector pension system from a long-term perspective: the case of Luxembourg Muriel Bouchet January 2003
N° 5 Monetary transmission: empirical evidence from Luxembourg firm-level data Patrick Lünnemann
Thomas Y. Mathä
October 2002
N° 4 Potential output and the output gap in Luxembourg: some alternative methods Paolo Guarda June 2002
N° 3 Economies d'échelle, économies de diversification et efficacité productive des banques luxembourgeoises Abdelaziz Rouabah Mars 2002
N° 2 Stock market valuation of old and new economy firms Patrick Lünnemann November 2001
N° 1 An assessment of the national labour market on employment, unemployment and their link to the price level in Luxembourg Erik Walch April 2001

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