BCL working papers

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95: Investment funds? vulnerabilities: A tail-risk dynamic CIMDO approach

Xisong Jin and Francisco Nadal De Simone

94: How do households allocate their assets? Stylised facts from the Eurosystem Household Finance and Consumption Survey

Luc Arrondel, Laura Bartiloro, Pirmin Fessler, Peter Lindner, Thomas Mathä, Cristiana Rampazzi, Frédérique Savignac, Tobias Schmidt, Martin Schürz and Philip Vermeulen

93: Household saving behaviour and credit constraints in the euro area

Julia Le Blanc, Alessandro Porpiglia, Federica Teppa, Junyi Zhu and Michael Ziegelmeyer

92: The Eurosystem, the banking sector and the money market

Paul Mercier

91: Household wealth in the euro area: The importance of intergenerational transfers, homeownership and house price dynamics

Thomas Mathä, Alessandro Porpiglia and Michael Ziegelmeyer

90: Wealth differences across borders and the effect of real estate price dynamics: Evidence from two household surveys

Thomas Mathä, Alessandro Porpiglia and Michael Ziegelmeyer

89: Cross-border commuting and consuming: An empirical investigation

Thomas Mathä, Alessandro Porpiglia and Michael Ziegelmeyer

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

87: Déficit, croissance et bien-être intergénérationnel: Comment réformer les pensions au Luxembourg ?

Muriel Bouchet, Luca Marchiori and Olivier Pierrard

86: The impact of the exchange rate on Luxembourg equity funds

Mustafa Kultur and Romuald Morhs

85: Household Risk Taking after the Financial Crisis

Sarah Necker and Michael Ziegelmeyer

84: Household Risk Management and Actual Mortgage Choice in the Euro Area

Michael Ehrmann and Michael Ziegelmeyer

83: News Shocks, Real Exchange Rates and International Co-Movements

Kyriacos Lambrias

82: Banking Systemic Vulnerabilities: A Tail-risk Dynamic CIMDO Approach

Xisong Jin and Francisco Nadal De Simone

81: Fluctuations Economiques et Dynamiques de la Constitution de Provisions Pour Créances Douteuses des Banques Luxembourgeoises

Sabbah Gueddoudj

80: The Determinants of Short Term Funding in Luxembourgish Banks

Dirk Mevis

79: An Empirical Study on the Impact of Basel III Standards on Banks? Default Risk: The Case of Luxembourg

Gastón Giordana and Ingmar Schumacher

78: Income, Wealth and Consumption of Cross-Border Commuters to Luxembourg

Thomas Mathä, Alessandro Porpiglia and Michael Ziegelmeyer

77: Macroeconomic Conditions and Leverage in Monetary Financial Institutions: Comparing European countries and Luxembourg

Gastón Giordana and Ingmar Schumacher

76: LOLA 2.0: Luxembourg OverLapping generation model for policy Analysis

Luca Marchiori and Olivier Pierrard

75: An Early-warning and Dynamic Forecasting Framework of Default Probabilities for the Macroprudential Policy Indicators Arsenal

Xisong Jin and Francisco Nadal De Simone

74: Backing out of private pension provision - Lessons from Germany

Michael Ziegelmeyer and Julius Nick

73: The Luxembourg Household Finance and Consumption Survey (LU-HFCS): Introduction and Results

Thomas Mathä, Alessandro Porpiglia and Michael Ziegelmeyer

72: A Financial Social Accounting Matrix (SAM) for Luxembourg

Amela Hubic

71: Macro-financial linkages: Evidence from country-specific VARs

Paolo Guarda and Philippe Jeanfils

70: How do firms adjust in a crisis? Evidence from a survey among Luxembourg firms

Patrick Lünnemann and Thomas Mathä

69: Demography, capital flows and unemployment

Luca Marchiori, Olivier Pierrard and Henri Sneessens

68: Is foreign-bank efficiency in financial centers driven by homecountry characteristics?

Claudia Curi, Paolo Guarda, Ana Lozano-Vivas and Valentin Zelenyuk

67: Changes in bank specialisation: comparing foreign subsidiaries and branches in Luxembourg

Claudia Curi, Paolo Guarda and Valentin Zelenyuk

66: The Leverage Cycle in Luxembourg?s Banking Sector

Gastón Giordana and Ingmar Schumacher

65: Market- and Book-Based Models of Probability of Default for Developing Macroprudential Policy Tools

Xisong Jin and Francisco Nadal De Simone

64: On-the-job Search and Cyclical Unemployment: Crowding Out vs. Vacancy Effects

Daniel Martin and Olivier Pierrard

63: An MVAR Framework to Capture Extreme Events in Macroprudential Stress Tests

Paolo Guarda, Abdelaziz Rouabah and John Theal

62: Aging and Pensions in General Equilibrium: Labor Market Imperfections Matter

David de la Croix, Olivier Pierrard and Henri Sneessens

61: The Impact of the Basel III Liquidity Regulations on the Bank Lending Channel: A Luxembourg case study

Gastón Giordana and Ingmar Schumacher

60: Subprime Consumer Credit Demand: Evidence from a Lender?sPricing Experiment

Sule Alan, Ruxandra Dumitrescu and Gyongyi Loranth

59: Behavioural Characteristics and Financial Distress

Yvonne McCarthy

58: Household Sector Borrowing in the Euro Area: A Micro Data Persective

Ramon Gomez-Salvador, Adriana Lojschova and Thomas Westermann

57: The Immigrant/Native Wealth Gap in Germany, Italy and Luxembourg

Thomas Mathä, Alessandro Porpiglia and Eva Sierminska

56: Wealth mobility and dynamics over entire individual working life cycles

Stefan Hochguertel and Henry Ohlsson

55: Inheritances and the Distribution of Wealth Or Whatever Happened to the Great Inheritance Boom?

Edward Wolff and Maury Gittleman

54: Who lost the most? Financial Literacy, Cognitive Abilities, and the Financial Crisis

Tabea Bucher-Koenen and Michael Ziegelmeyer

53: Check in the Mail or More in the Paycheck: Does the Effectiveness of Fiscal Stimulus Depend on How It Is Delivered?

Claudia Sahm, Matthew Shapiro and Joel Slemrod

52: Consumption and Initial Mortgage Conditions: Evidence From Survey Data

Giacomo Masier and Ernesto Villanueva

51: Financial Advice and Stock Market Participation

Dimitris Georgarakos and Roman Inderst

50: Which Households Use Banks? Evidence from the Transition Economies

Thorsten Beck and Martin Brown

49: Monetary Policy Transmission and Macroeconomic Dynamics in Luxembourg: Results from a VAR Analysis

Romuald Morhs

48: Downward wage rigidity and automatic wage indexation: Evidence from monthly micro wage data

Patrick Lünnemann and Ladislav Wintr

47: Stress testing: The impact of shocks on the capital needs of the Luxembourg banking sector

Abdelaziz Rouabah and John Theal

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