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Climate Change Mitigation and Policy Spillovers in the EU's Immediate Neighborhood

Release Date:December, 2023

EU's neighborhood countries (EUN) have lagged the EU on emissions mitigation; coal-heavy power generation and industrial sectors are a key factor. They have also trailed EU countries in emissions more...



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Housing Affordability: A New Dataset

Release Date:December, 2023

The rapid increase in house prices in the past few years, including during the COVID-19 pandemic, raises concerns about housing affordability. The price-to-income ratio is a widely-used indicator of more...



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Navigating the Well-Being Effects of Monetary Policy: Evidence from the Euro Area

Release Date:December, 2023

Central banks have recently adjusted their communication strategies to enhance engagement with the general public, yet there is limited understanding of public sentiment regarding monetary policy more...



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Geoeconomic Fragmentation: What's at Stake for the EU

Release Date:November, 2023

Geoeconomic fragmentation (GEF) is becoming entrenched worldwide, and the European Union (EU) is not immune to its effects. This paper takes stock of GEF policies impinging on—and adopted by—the EU more...



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Mitigating Climate Change at the Firm Level: Mind the Laggards

Release Date:November, 2023

Using self-reported data on emissions for a global sample of 4,000 large, listed firms, we document large heterogeneity in environmental performance within the same industry and country. more...



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Monetary Policy Design with Recurrent Climate Shocks

Release Date:November, 2023

As climate change intensifies, the frequency and severity of climate-induced disasters are expected to escalate. We develop a New Keynesian Dynamic Stochastic General Equilibrium model to analyze the more...



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Taming Financial Dollarization: Determinants and Effective Policies – The Case of Uruguay

Release Date:November, 2023

With some of the most significant levels of financial dollarization in the Western Hemisphere, Uruguay is characterized by extensive dollarization in both deposits and loans. While traditional more...



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Central Bank Digital Currency and Bank Disintermediation in a Portfolio Choice Model

Release Date:November, 2023

Would the introduction of a Central Bank Digital Currency (CBDC) lead to lower deposits (disintermediation) and lending in the banking sector? This paper develops a model where households more...



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Currencies of External Balance Sheets

Release Date:November, 2023

This paper assembles a comprehensive dataset of the currency composition of countries' external balance sheets for 50 economies over the period 1990–2020. We document the following findings: (i) more...



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Mobile Money, Perception about Cash, and Financial Inclusion: Learning from Uganda's Micro-Level Data

Release Date:November, 2023

Will mobile money render cash less dominant over time in Africa? Can it promote financial inclusion? We shed light on these questions by exploring individual-level and nationally representative more...



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