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The National Bank's Working Papers have an economic or financial background, or focus on topics which are particularly relevant to the central banks' activities. They are aimed at a specialist public. The papers drawn up by the National Bank's staff are published in their own name and on their own responsibility.

Working paper

The Working Papers are published at variable intervals. They are available in one single language, either in French, Dutch or English. The electronic versions are available through the links below. 

It is also possible to order a printed copy or to subscribe to the upcoming issues.

ISSN number - internet version: 1784-2476
ISSN number - paper version: 1375-680X
2010-07-19Working Paper 193
 Emmanuel Dhyne, Martine Druant
 Wages, labor or prices: How do firms react to shocks?
2010-07-15Working Paper 192
 Claude Mathys
 Economic importance of the Belgian ports: Flemish maritime ports, Liège port complex and the port of Brussels - Report 2008
2010-06-30Working Paper 191
 Julián Messina, Philip Du Caju, Cláudia Filipa Duarte, Niels Lynggård Hansen, Mario Izquierdo
 The incidence of nominal and real wage rigidity: An individual-based sectoral approach
2010-05-07Working Paper 190
 Jan Annaert, Marc De Ceuster, Patrick Van Roy, Cristina Vespro
 What determines euro area bank CDS spreads?
2010-04-30Working Paper 189
 Philip Du Caju, Gábor Kátay, Ana Lamo, Daphne Nicolitsas, Steven Poelhekke
 Inter-industry wage differentials in EU countries: What do cross-country time-varying data add to the picture?
2010-04-29Working Paper 188
 Ivo Maes
 A century of macroeconomic and monetary thought at the National Bank of Belgium
2010-04-29Working Paper 187
 Michel De Vroey
 Getting rid of Keynes? A survey of the history of macroeconomics from Keynes to Lucas and beyond
2010-04-29Working Paper 186
 Otmar Issing
 The development of monetary policy in the 20th century – some reflections
2010-03-02Working Paper 185
 Frédéric Malherbe
 Self-fulfilling liquidity dry-ups
2010-01-28Working Paper 184
 Stijn Ferrari
 Discriminatory fees, coordination and investment in shared ATM network
2009-11-19Working Paper 183
 Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm
 The margins of labour cost adjustment: Survey evidence from European firms
2009-11-19Working Paper 182
 Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm
 Downward nominal and real wage rigidity: Survey evidence from European firms
2009-11-13Working Paper 181
 Karel Mertens, Morten O. Ravn
 Empirical evidence on the aggregate effects of anticipated and unanticipated US tax policy shocks
2009-10-26Working Paper 180
 Philip Du Caju, François Rycx, Ilan Tojerow
 Inter-industry wage differentials: How much does rent sharing matter?
2009-10-23Working Paper 179
 Hans Degryse, Nancy Masschelein, Janet Mitchell
 Staying, dropping, or switching: The impacts of bank mergers on small firms
2009-10-23Working Paper 178
 Vivien Lewis
 Optimal monetary policy and firm entry
2009-10-16Working Paper 177
 Ingo Fender, Janet Mitchell
 Incentives and tranche retention in securitisation: A screening model
2009-10-08Working Paper 176
 Ivo Maes
 On the origins of the BIS macro-prudential approach to financial stability: Alexandre Lamfalussy and financial fragility
2009-09-10Working Paper 175
 Engin Kara
 Micro data on nominal rigidity, inflation persistence and optimal monetary policy
2009-08-27Working Paper 174
 Martine Druant, Silvia Fabiani, Gabor Kezdi, Ana Lamo, Fernando Martins, Roberto Sabbatini
 How are firms' wages and prices linked: Survey evidence in Europe
2009-07-27Working Paper 173
 Nicolas Groshenny
 Evaluating a monetary business cycle model with unemployment for the euro area
2009-07-14Working Paper 172
 Claude Mathys
 Importance économique des ports belges: Ports maritimes flamands, complexe portuaire liégeois et port de Bruxelles – Rapport 2007
2009-07-03Working Paper 171
 Emmanuel Dhyne
 A global assessment of the degree of price stickiness - results from the NBB business survey
2009-07-03Working paper 170
 François Coppens, Fabienne Verduyn
 Analysis of business demography using Markov chains: An application to Belgian data
2009-07-02Working paper 169
 Emmanuel Dhyne, Benoit Mahy
 The use of fixed-term contracts and the labour adjustment in Belgium
2009-07-02Working paper 168
 Vivien Lewis, Agnieszka Markiewicz
 Model misspecification, learning and the exchange rate disconnect puzzle
2009-06-25Working paper 167
 Olivier De Jonghe
 Back to the basics in banking? A micro-analysis of banking system stability
2009-06-25Working paper 166
 Engin Kara
 Input-output connections between sectors and optimal monetary policy
2009-06-11Working paper 165
 Maarten Dossche
 Understanding inflation dynamics: Where do we stand?
2009-05-19Working paper 164
 Kai Christoffel, James Costain, Gregory de Walque, Keith Kuester, Tobias Linzert, Stephen Millard, Olivier Pierrard
 Inflation dynamics with labour market matching: Assessing alternative specifications
2009-04-30Working paper 163
 Ivo Maes
 The young Lamfalussy: An empirical and policy-oriented growth theorist
2009-04-09Working paper 162
 Pierrette Heuse, Yves Saks
 Labour flows in Belgium
2009-03-23Working paper 161
 Kristian Behrens, Giordano Mion, Yasusada Murata, Jens Südekum
 Trade, wages and productivity
2009-03-11Working paper 160
 Frédéric Lagneaux, David Vivet
 The Belgian iron and steel industry in the international context
2009-03-11Working paper 159
 Catherine Fuss, Ladislav Wintr
 Rigid labour compensation and flexible employment?
Firm-level evidence with regard to productivity for Belgium
2009-03-10Working paper 158
 Franziska Kupfer, Frédéric Lagneaux
 Economic importance of air transport and airport activities in Belgium
2009-02-19Working paper 157
 Gregory de Walque, Olivier Pierrard, Henri Sneessens, Raf Wouters
 Sequential bargaining in a New Keynesian model with frictional unemployment and staggered wage negotiation
2009-02-19Working Paper 156
 Philip Du Caju, Catherine Fuss, Ladislav Wintr
 Understanding sectoral differences in downward real wage rigidity: Workforce composition, institutions, technology and competition
2009-01-21Working Paper 155
 Fabrizio Balassone, Jorge Cunha, Geert Langenus, Bernhard Manzke, Jeanne Pavot, Doris Prammer, Pietro Tommasino
 Fiscal sustainability and policy implications for the euro area
2008-12-09Working Paper 154
 Philip Du Caju, Erwan Gautier, Daphné Momferatou, Mélanie Ward-Warmedinger
 Institutional features of wage bargaining in 23 European countries, the US and Japan
2008-12-09Working Paper 153
 Francesca Monti
 Forecast with judgment and models
2008-12-09Working Paper 152
 Michael Rusinek, François Rycx
 Rent-sharing under different bargaining regimes: Evidence from linked employer-employee data
2008-10-16Working Paper 151
 Lawrence J. Christiano, Roberto Motto, Massimo Rostagno
 Financial factors in economic fluctuations
2008-10-16Working Paper 150
 Ferre De Graeve, Maarten Dossche, Marina Emiris, Henri Sneessens, Raf Wouters
 Risk premiums and macroeconomic dynamics in a heterogeneous agent model
2008-10-16Working Paper 149
 Katrin Assenmacher-Wesche, Stefan Gerlach
 Monetary policy, asset prices and macroeconomic conditions: A panel-VAR study
2008-10-16Working Paper 148
 Gregory de Walque, Olivier Pierrard, Abdelaziz Rouabah
 Financial (in)stability, supervision and liquidity injections: A dynamic general equilibrium approach
2008-10-16Working Paper 147
 Guenter Beck, Volker Wieland
 Central bank misperceptions and the role of money in interest rate rules
2008-10-16Working Paper 146
 Vasco Cúrdia, Michael Woodford
 Credit frictions and optimal monetary policy
2008-10-16Working Paper 145
 Matteo Iacoviello, Stefano Neri
 Housing market spillovers: Evidence from an estimated DSGE model
2008-10-16Working Paper 144
 Hans Dewachter
 Imperfect information, macroeconomic dynamics and the yield curve: An encompassing macro-finance model
2008-10-16Working Paper 143
 Glenn D. Rudebusch, Eric T. Swanson
 The bond premium in a DSGE model with long-run real and nominal risks
2008-10-16Working Paper 142
 Christiane Baumeister, Eveline Durinck, Gert Peersman
 Liquidity, inflation and asset prices in a timevarying framework for the euro area
2008-10-16Working Paper 141
 Matthew Canzoneri, Robert Cumby, Behzad Diba, David López-Salido
 Monetary aggregates and liquidity in a neo-Wicksellian framework
2008-09-22Working Paper 140
 Mauro Pisu
 Export destinations and learning-by-exporting: Evidence from Belgium
2008-09-22Working Paper 139
 Mirabelle Muûls
 Exporters and credit constraints. A firm-level approach
2008-09-12Working Paper 138
 Bruno Eugène
 The efficiency frontier as a method for gauging the performance of public expenditure: A Belgian case study
2008-08-26Working Paper 137
 Joachim Keller
 Agency problems in structured finance – A case study of European CLOs
2008-08-18Working Paper 136
 Philippe Moës
 Multivariate structural time series models with dual cycles : Implications for measurement of output gap and potential growth
2008-08-18Working Paper 135
 Philippe Jeanfils
 Imperfect exchange rate pass-through: the role of distribution services and variable demand elasticity
2008-06-26Working Paper 134
 Saskia Vennix
 Economic importance of the Belgian ports: Flemish maritime ports, Liège port complex and the port of Brussels – Report 2006
2008-06-17Working Paper 133
 K. Barhoumi, S. Benk, R. Cristadoro, A. Den Reijer, A. Jakaitiene, P. Jelonek, A. Rua, G. Rünstler, K. Ruth, C. Van Nieuwenhuyze
 Short-term forecasting of GDP using large monthly datasets - A pseudo real-time forecast evaluation exercise
2008-04-07Working Paper 132
 R. Raciborski
 Searching for additional sources of inflation persistence: the micro-price panel data approach
2008-03-27Working Paper 131
 Luc Dresse, Christophe Van Nieuwenhuyze
 Do survey indicators let us see the business cycle? A frequency decomposition
2008-03-17Working Paper 130
 Mauro Pisu
 Job creation, job destruction and firms' international trade involvement
2008-03-13Working Paper 129
 Pelin Ilbas
 Estimation of monetary policy preferences in a forward-looking model: A Bayesian approach
2008-02-13Working Paper 128
 The International Study Group on Exports and Productivity
 Exports and productivity – comparable evidence for 14 countries
2008-01-31Working Paper 127
 Catherine Fuss
 How do firms adjust their wage bill in Belgium? A decomposition along the intensive and extensive margins
2008-01-25Working Paper 126
 Ladislav Wintr
 Some evidence on late bidding in eBay auctions
2008-01-09Working Paper 125
 Frédéric Lagneaux
 Economic importance of Belgian transport logistics
2007-12-21Working Paper 124
 Ph. Du Caju, C. Fuss, L. Wintr
 Downward wage rigidity for different workers and firms: An evaluation for Belgium using the IWFP procedure
2007-12-13Working Paper 123
 Janet Mitchell, Patrick Van Roy
 Failure prediction models: performance, disagreements, and internal rating systems
2007-11-16Working Paper 122
 Carine Swartenbroekx
 The gas chain: influence of its specificities on the liberalisation process
2007-11-15Working Paper 121
 Hans Degryse, Mark Van Achter, Gunther Wuyts
 Dynamic order submission strategies with competition between a dealer market and a crossing network
2007-10-31Working Paper 120
 Nancy Masschelein
 Monitoring pro-cyclicality under the capital requirements directive: Preliminary concepts for developing a framework
2007-10-18Working Paper 119
 Lieven Baele, Geert Bekaert, Koen Inghelbrecht
 The determinants of stock and bond return comovements
2007-09-07Working Paper 118
 François Coppens, Fernando González, Gerhard Winkler
 The performance of credit rating systems in the assessment of collateral used in Eurosystem monetary policy operations
2007-08-03Working Paper 117
 Annick Bruggeman
 Can excess liquidity signal an asset price boom?
2007-06-28Working Paper 116
 Emmanuel Dhyne, Jerzy Konieczny
 Temporal distribution of price changes: Staggering in the large and synchronization in the small
2007-05-31Working Paper 115
 Frédéric Lagneaux
 Economic importance of the Belgian ports: Flemish maritime ports and Liège port complex – report 2005
2007-05-03Working Paper 114
 Mirabelle Muûls, Mauro Pisu
 Imports and Exports at the Level of the Firm: Evidence from Belgium
2007-04-30Working Paper 113
 Ivo Maes
 The spread of Keynesian economics: a comparison of the Belgian and Italian experiences
2007-04-23Working Paper 112
 Luc Aucremanne, Marianne Collin, Thomas Stragier
 Assessing the gap between observed and perceived inflation in the euro area: Is the credibility of the HICP at stake?
2007-03-29Working Paper 111
 Philip Vermeulen, Daniel Dias, Maarten Dossche, Erwan Gautier, Ignacio Hernando, Roberto Sabbatini, Harald Stahl
 Price setting in the euro area: Some stylized facts from individual producer price data
2007-02-08Working Paper 110
 F. Coppens, F. Lagneaux, H. Meersman, N. Sellekaerts, E. Van de Voorde, G. van Gastel, Th. Vanelslander, A. Verhetsel
 Economic impact of port activity - the case of Antwerp
2007-02-05Working Paper 109
 Frank Smets,  Raf Wouters
 Shocks and frictions in US business cycles: a Bayesian DSGE approach
2007-02-01Working Paper 108
 Reinout De Bock
 Investment-specific technology shocks and labor market frictions
2007-01-11Working Paper 107
 Christophe Piette
 Importance et évolution des investissements directs en Belgique
2006-11-17Working Paper 106
 Helga De Doncker
 R&D in the Belgian pharmaceutical sector
2006-11-17Working Paper 105
 Klaus Düllmann, Nancy Masschelein
 Sector concentration in loan portfolios and economic capital
2006-11-16Working Paper 104
 Jan De Wit
 Exploring the CDS-bond basis
2006-10-13Working Paper 103
 Vivien Lewis
 Macroeconomic fluctuations and firm entry: Theory and evidence
2006-10-03Working Paper 102
 Geert Langenus
 Fiscal sustainability indicators and policy design in the face of ageing
2006-10-12Working Paper 101
 Wolfgang Franz, Friedrich Pfeiffer
 Reasons for wage rigidity in Germany - paper not available
2006-10-12Working Paper 100
 Emmanuel Dhyne, Catherine Fuss, Hashem Pesaran, Patrick Sevestre
 Lumpy price adjustments: a microeconomic analysis
2006-10-12Working Paper 99
 Maarten Dossche, Freddy Heylen, Dirk Van den Poel
 The kinked demand curve and price rigidity: evidence from scanner data
2006-10-12Working Paper 98
 David de la Croix, Gregory de Walque, Raf Wouters
 Dynamics and monetary policy in a fair wage model of the business cycle
2006-10-12Working Paper 97
 Vincent Bodart, Grégory de Walque, Olivier Pierrard, Henri R. Sneessens, Raf Wouters
 Nominal wage rigidies in a new Keynesian model with frictional unemployment
2006-10-12Working Paper 96
 William T. Dickens, Lorenz Goette, Erica L. Groshen, Steinar Holden, Julian Messina, Mark E. Schweitzer, Jarkko Turunen, Melanie E. Ward
 How wages change: micro evicence from the International Wage Flexibility Project
2006-10-12Working Paper 95
 Filippo Altissimo, Michael Ehrmann, Frank Smets
 Inflation persistence and price-setting behaviour in the euro area: a summary of the Inflation Persistence Network evidence
2006-10-12Working Paper 94
 Joseph Plasmans, Tomasz Michalak, Jorge Fornero
 Simulation, estimation and welfare implications of monetary policies in a 3-country NOEM model
2006-10-12Working Paper 93
 Filip Abraham, Jozef Konings, Stijn Vanormelingen
 Price and wage setting in an integrating Europe: firm level evidence
2006-10-12Working Paper 92
 Olivier Blanchard, Jordi Gali
 A new Keynesian model with unemployment
2006-10-12Working Paper 91
 Natalie Chen, Jean Imbs, Andrew Scott
 The dynamics of trade and competition
2006-10-12Working Paper 90
 Robert Plasman, François Rycx, Ilan Tojerow
 Industry wage differentials, unobserved ability and rent-sharing: Evidence from matched worker-firm data, 1995-2002
2006-09-04Working Paper 89
 Philippe Moës
 The production function approach to the Belgian output gap, estimation of a multivariate structural time series model
2006-07-27Working Paper 88
 Marina Emiris
 The term structure of interest rates in a DSGE model
2006-07-13Working Paper 87
 Catherine Fuss, Philip Vermeulen
 The response of firms‘ investment and financing to adverse cash flow shocks: The role of bank relationships
2006-06-28Working Paper 86
 Frédéric Lagneaux
 Economic importance of the Belgian ports: Report 2004
2006-06-15Working Paper 85
 Gregory de Walque, Frank Smets, Raf Wouters
 Firm-specific production factors in a dynamic stochastic general equilibrium model with Taylor price setting
2006-05-15Working Paper 84
 François Coppens, David Vivet
 The single European electricity market: A long road to convergence
2006-05-12Working Paper 83
 Hans Dewachter, Marco Lyrio, Konstantijn Maes
 A multi-factor model for the valuation and risk management of demand deposits
2006-05-05Working Paper 82
 David Cornille, Maarten Dossche
 The patterns and determinants of price setting in the Belgian industry
2006-03-24Working Paper 81
 Philippe Jeanfils, Philippe Delhez, Luc Van Meensel, Koen Burggraeve, Kristel Buysse, Philip Du Caju, Yves Saks, Kris Van Cauter
 Réduction linéaire de cotisations patronales à la sécurité sociale et financement alternatif
2006-02-27Working Paper 80
 Christophe Van Nieuwenhuyze
 A generalised dynamic factor model for the Belgian economy - Useful business cycle indicators and GDP growth forecasts
2006-02-21Working Paper 79
 Patrick Van Roy
 Is there a difference between solicited and unsolicited bank ratings and if so, why?
2006-01-18Working Paper 78
 Helga De Doncker
 Credits to Individuals – Analysis of the data recorded by the Central Individual Credit Register
2005-11-21Working Paper 77
 Lorenzo Pozzi
 Income uncertainty and Aggregate Consumption
2005-11-14Working Paper 76
 S. Fabiani, M. Druant, I. Hernando, C. Kwapil, B. Landau, C. Loupias, F. Martins, T. Mathä, R. Sabbatini, H. Stahl, A. Stokman
 The pricing behaviour of firms in the euro area: New survey evidence
2005-10-27Working Paper 75
 Frédéric Lagneaux
 Importance économique du Port Autonome de Liège: rapport 2003
2005-09-16Working Paper 74
 Emmanuel Dhyne, Luis J. Álvarez, Hervé Le Bihan, Giovanni Veronese, Daniel Dias, Johannes Hoffmann, Nicole Jonker, Patrick Lünnemann, Fabio Rumler, Jouko Vilmunen
 Price setting in the euro area: Some stylized facts from individual consumer price data
2005-09-01Working Paper 73
 Alain Durré - Pierre Giot
 An international analysis of earnings, stock prices and bond yields
2005-07-26Working Paper 72
 Johan Devriese & Janet Mitchell
 Liquidity risk in securities settlement
2005-07-26Working Paper 71
 Janet Mitchell
 Financial Intermediation Theory and Implications for the Sources of Value in Structured Finance Markets
2005-06-21Working Paper 70
 Maarten Dossche & Gerdie Everaert
 Measuring inflation persistence: a structural time series approach
2005-06-03Working Paper 69
 Frédéric Lagneaux
 Economic importance of the Flemish maritime ports: report 2003
2005-05-25Working Paper 68
 Philippe Jeanfils & Koen Burggraeve
 Noname - A new quarterly model for Belgium
2005-05-23Working Paper 67
 François Coppens
 Indirect effects - A formal definition and degrees of dependency as an alternative to technical coefficients
2005-03-31Working Paper 66
 Luc Aucremanne, Emmanuel Dhyne
 Time-dependent versus state-dependent pricing: A panel data approach to the determinants of Belgian consumer price changes
2005-03-16Working Paper 65
 Luc Aucremanne, Martine Druant
 Price-setting behaviour in Belgium: What can be learned from an ad hoc survey?
2004-11-23Working Paper 64
 Frédéric Lagneaux
 Importance économique du Port Autonome de Liège: rapport 2002
2004-11-09Working Paper 63
 Stefaan Ide, Philippe Moës
 Asymmetric growth and inflation developments in the acceding countries: a new assessment
2004-10-12Working Paper 62
 Gregory de Walque
 Voting on pensions: A survey
2004-10-08Working Paper 61
 Frank Smets, Raf  Wouters
 Comparing shocks and frictions in US and Euro Area business cycles: a Bayesian DSGE approach
2004-09-22Working Paper 60
 Frank Smets, Raf Wouters
 Forecasting with a Bayesian DSGE model: an application to the euro area
2004-09-17Working Paper 59
 François Coppens, David Vivet
 Liberalisation of network industries: Is electricity an exception to the rule?
2004-08-03Working Paper 58
 Ivo Maes
 Macroeconomic and monetary policy-making at the European Commission, from the Rome treaties to the Hague summit
2004-07-20Working Paper 57
 Astrid Van Landschoot
 Determinants of euro term structure or credit spreads
2004-06-21Working Paper 56
 Frédéric Lagneaux
 Economic importance of the Flemish maritime ports: Report 2002
2004-05-18Working Paper 55
 Maureen O'Hara
 Liquidity and financial market stability
2004-05-18Working Paper 54
 Xavier Freixas, Gyöngyi Lóránth, Alan D. Morrison, Hyun Song Shin
 Regulating Financial Conglomerates
2004-05-18Working Paper 53
 Geert Bekaert, Campbell R. Harvey, Christian Lundblad
 Does financial liberalization spur growth?
2004-05-18Working Paper 52
 Franklin Allen
 The efficiency and Stability of Banks and Markets
2004-05-18Working Paper 51
 Ariane Chapelle, Yves Crama, Georges Hübner, Jean-Philippe Peters
 Basel II and operational risk: Implications for risk measurement and management in the financial sector
2004-05-18Working Paper 50
 Patrick Van Cayseele
 Financial consolidation and liquidity: prudential regulation and/or competition policy?
2004-05-18Working Paper 49
 Helena Beltran, Alain Durré, Pierre Giot
 How does liquidity react to stress periods in a limit order market?
2004-05-18Working Paper 48
 Marina Emiris
 Sectoral vs. country diversification benefits and downside risk
2004-05-18Working Paper 47
 Ferre De Graeve, Olivier De Jonghe, Rudi Vander Vennet
 

The determinants of pass-through of market conditions to bank retail interest rates in Belgium

2004-05-18Working Paper 46
 Hans Degryse, Nancy Masschelein, Janet Mitchell
 SMEs and bank lending relationships: The impact of mergers
2004-05-18Working Paper 45
 Catherine Fuss & Philip Vermeulen
 Firms' investment decisions in response to demand and price uncertainty
2004-04-22Working Paper 44
 Luc Aucremanne & Emmanuel Dhyne
 How frequently do prices change? Evidence based on the micro data underlying the Belgian CPI.
2004-03-02Working Paper 43
 Hans Degryse & Gregory Nguyen
 Interbank exposures: an empirical examination of systemic risk in the Belgian banking system
2004-02-02Working Paper 42
 Konstantijn Maes
 Modeling the term structure of interest rates: where do we stand?
2003-11-24Working Paper 41
 Patrick Bisciari, Alain Durré & Alain Nyssens
 Stock market valuation in the United States
2003-08-05Working Paper 40
 I. Maes & L. Quaglia
 The process of European monetary integration: a comparison of the Belgian and Italian approaches
2003-06-01Working Paper 39
 B. Eugène, Ph. Jeanfils & B. Robert
 La consommation privée en Belgique
2003-06-01Working Paper 38
 François Coppens & George van Gastel
 De autonijverheid in België: Het belang van het toeleveringsnetwerk rond de assemblage van personenauto's
2003-03-01Working paper 37
 S. Ide & Ph. Moës
 Scope of asymmetries in the Euro area
2003-03-01Working Paper 36
 Koen Burggraeve & Philip Du Caju
 The labour market and fiscal impact of labour tax reductions - The case of reduction of employers' social security contributions under a wage norm regime with automatic price indexing of wages
2002-10-01Working Paper 35
 Frank Smets & Raf Wouters
 An estimated dynamic stochastic general equilibrium model of the euro
2002-07-01Working Paper 34
 Ivo Maes
 On the origins of the Franco-German EMU controversies
2002-05-01Working Paper 33
 P. Van Cayseele
 Investment, R and D and liquidity constraints
2002-05-01Working Paper 32
 M. Cincera
 Financing constraints, fixed capital and R and D investments decisions of belgian firms
2002-05-01Working Paper 31
 J. Franks and C. Mayer
 Governance as a source of managerial discipline
2002-05-01Working Paper 30
 Véronique Bastin, Albert Corhay, Georges Hübner and Pierre-Armand Michel
 Development path and capital structure of belgian biotechnology firms
2002-05-01Working Paper 29
 Sophie Manigart, Katleen Baeyens and Ilse Verschueren
 Financing and investment interdependencies in unquoted belgian companies
2002-05-01Working Paper 28
 Jean-Bernard Chatelain
 Structural modelling of investment interdependencies in unquoted belgian companies
2002-05-01Working Paper 27
 Ronald W. Anderson
 Capital structure, firm liquidity and growth
2002-05-01Working Paper 26
 Marcel Gérard and Frédéric Verschueren
 Finance, uncertainty and investment
2002-05-01Working Paper 25
 Charles P. Himmelberg, R. Glenn Hubbard and Inessa Love
 Investment, protection, ownership, and the cost of capital
2002-05-01Working Paper 24
 Paul Butzen, Catherine Fuss and Philip Vermeulen
 The impact of uncertainty on investment plans
2002-05-01Working Paper 23
 D. Cassimon; P.-J. Engelen, H. Meersman and M. Van Wouwe
 Investment, uncertainty and irreversibility: evidence from belgian accounting data
2002-05-01Working Paper 22
 Lenos Trigeorgis
 Real options and investment under uncertainty: What do we know?
2002-05-01Working Paper 21
 Dale W. Jorgenson and Kun-Young Yun
 Lifting the burden: fundamental tax reform and U.S. economic growth
2002-05-01Working Paper 20
 Luc Aucremanne, Guy Brys, Mia Hubert, Peter J. Rousseeuw and Anja Struyf
 Inflation, relative prices and nominal rigidities
2002-03-01Working Paper 19
 Frank Smets, Raf Wouters
 Openness, imperfect exchange rate pass-trough and monetary policy
2001-12-01Working Paper 18
 Paul Butzen, Catherine Fuss and Philip Vermeulen
 The interest rate and credit channels in Belgium: an investigation with micro-level data
2001-11-01Working Paper 17
 Luc Aucremanne and David Cornille
 Attractive prices and euro-rounding effects on inflation
2001-06-01Working Paper 16
 Philippe Jeanfils
 A guided tour of the world of rational expectations models and optimal policies
2001-05-01Working Paper 15
 Annick Bruggeman and Raf Wouters
 Determinanten van de debetrentes toegepast door Belgische kredietinstellingen
2001-04-01Working Paper 14
 Patrick Bisciari
 Nouvelle économie
2001-02-01Working Paper 13
 Catherine Rigo
 Le financement des entreprises par capital-risque
2000-11-01Working Paper 12
 J-J. Vanhaelen, L. Dresse and J. De Mulder
 The Belgian industrial confidence indicator: leading indicator of economic activity in the euro area?
2000-08-01Working Paper 11
 Quentin Wibaut
 Politique monétaire et prix des actifs: le cas des États-Unis
2000-05-01Working Paper 10
 John Vickers
 Monetary union and economic growth
2000-05-01Working Paper 9
 Ronald MacDonald
 The role of the exchange rate in economic growth: a euro-zone perspective
2000-05-01Working Paper 8
 C. Wyplosz
 Economic growth and the labor markets: Europe's challenge
2000-05-01Working Paper 7
 P. Masson
 Fiscal policy and growth in the context of European integration
2000-05-01Working Paper 6
 A. Bassanini; S. Scarpetta and I. Visco
 Knowledge, technology and economic growth: an OECD perspective
2000-05-01Working Paper 5
 S. Turnovski
 Growth in an open economy: some recent developments
2003-03-01Working Paper 4
 Philippe Jeanfils
 A model with explicit expectations for Belgium
2000-03-01Working Paper 3
 Alain Nyssens, Paul Butzen and Patrick Biscari
 Performances économiques des États-Unis dans las années nonante
2000-03-01Working Paper 2
 Luc Aucremanne
 The use of robust estimators as measures of core inflation
2000-03-01Working Paper 1
 Raf Wouters and Michel Dombrecht
 Model-based inflation forecasts and monetary policy rules
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