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° 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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