In a dynamic framework, commercial banks compete for customers by setting acceptance
criteria for granting loans, while taking into account regulatory requirements. By easing its …

The COVID-19 pandemic hit countries’ development agendas hard. The ensuing recession
has pushed millions into extreme poverty and has shrunk government resources available …

A common feature in two-sided markets is the prevalence of heavily skewed pricing strategies
in which price markups are much higher on one side of the market than the other. We …

This SDN explores how demographic changes have affected and will affect public and
private sector savings, highlighting the interaction between pension systems, labor markets …

We track direct public interventions and public holdings in 1,114 financial institutions over
the period 2007–17 in 37 countries based on publicly available information. We use …

Using a multi-tier model of the housing market, we show that both starters and movers benefit
from mortgage interest deduction for higher income groups. However, such tax favouring …

Interest rate pass-through from policy interest rates to market rates and inflation has been
hypothesized to play a lesser role in Romania than in other Central European transition …

Using a simple model of two-sided markets, we show that, in the social optimum, platform
pricing leads to an inherent cost recovery problem. This result is driven by the positive …

In two-sided markets, one widely observes skewed pricing strategies, in which the price
mark-up is much higher on one side of the market than the other. Using a simple model of two-…

This paper assesses changes in synchronization of real activity and financial market
integration in Western Europe and evaluates their implications for financial stability. We find …