Related papers: CAP and Monetary Policy
Structural change consists of industrial diversification towards more productive, knowledge intensive activities. However, changes in the productive structure bear inherent links with job creation and income distribution. In this paper, we…
In this paper we discuss recent developments in econometrics that we view as important for empirical researchers working on policy evaluation questions. We focus on three main areas, where in each case we highlight recommendations for…
Current approaches to AI governance often fall short in anticipating a future where AI agents manage critical tasks, such as financial operations, administrative functions, and beyond. While cryptocurrencies could serve as the foundation…
Over-the-counter markets are at the center of the postcrisis global reform of the financial system. We show how the size and structure of such markets can undergo rapid and extensive changes when participants engage in portfolio…
As algorithms are increasingly applied to screen applicants for high-stakes decisions in employment, lending, and other domains, concerns have been raised about the effects of algorithmic monoculture, in which many decision-makers all rely…
This study examines the impact of monetary factors on the conversion of farmland to renewable energy generation, specifically solar and wind, in the context of expanding U.S. energy production. We propose a new econometric method that…
Using a Taylor rule amended with official reserves movements, we derive country-specific monetary shocks and employ a local projections-estimator for tracking gender-disaggregated labor-market responses in 99 developing economies from 2009…
In France, for administrative reasons, unemployed workers may actually be involved in occasional work while remaining identified as unemployed (and receiving the corresponding benefit). This is due to the fact that the unemployed are deemed…
Policy choices in the wake of recent mass protests in Egypt will determine the likelihood of civil war in the short run and the prospects for democracy in the long run. Economic conditions can be improved by international action to reduce…
In our country, majority of agricultural workers (who may include farmers working within a cooperative framework, or those who work individually either as owners or tenants) are shown to be reaping the least amount of profits in the…
This paper aims to provide a comprehensive analysis on the income inequalities recorded in the EU-15 in the 1995-2014 period and to estimate the impact of private sector credit on income disparities. In order to estimate the impact, I used…
The current economic crisis has provoked an active response from the interdisciplinary scientific community. As a result many papers suggesting what can be improved in understanding of the complex socio-economics systems were published.…
Recent developments in the global liberalization of equity and currency markets, coupled to advances in trading technologies, are making markets increasingly interdependent. This increased fluidity raises questions about the stability of…
Climate and energy policy targets of the European Commission aim to make Europe the first climate-neutral continent by 2050. For low-carbon and net-neutral energy systems primarily based on variable renewable power generation, issues…
This paper analyzes the bank lending channel and the heterogeneous effects on the euro area, providing evidence that the channel is indeed working. The analysis of the transmission mechanism is based on structural impulse responses to an…
This paper examines the impact of financial risks on economic growth in the first 15 Member States of the European Union, considering 1995-2014 period and aims to lay down a new explanatory model of economic growth, based mainly on the…
Trade networks, across which countries distribute their products, are crucial components of the globalized world economy. Their structure is strongly heterogeneous across products, given the different features of the countries which buy and…
The high temporal variability of wind power generation represents a major challenge for the realization of a sustainable energy supply. Large backup and storage facilities are necessary to secure the supply in periods of low renewable…
Market makers play an essential role in financial markets. A successful market maker should control inventory and adverse selection risks and provide liquidity to the market. As an important methodology in control problems, Reinforcement…
Monetary markets serve as established resource allocation mechanisms, typically achieving efficient solutions with limited information. However, they are susceptible to market failures, particularly under the presence of public goods,…