Reduce tax on residential mobility

How can Europe increase structural growth? This column argues that labour market flexibility is key. As a major barrier to labour movement is rigidity in the housing market, abolishing transfer taxes on residential property could result in gains of up to 0.4% of GDP

Актуальне й нове дослідження

Рецензія на монографію: Іваннікова Л. Фольклористика Півдня України: сторінки історії. – Запоріжжя, 2008. – 292 с

Авторам про журнал

We investigate the size of the mark-up on the lending rate for endowment mortgages, due to expected prepayment by the borrower. For this type of mortgage, prepayment is mostly the result of mobility in the housing market. We control for the risk of default by using a unique data set of Dutch borrowers insured against default. The estimates indicate that households with a higher liquidity constraint are less likely to prepay, as they have a lower mark-up on the lending rate. In contrast, the collateral constraint has a very limited influence on the mark-up. We explain this result as follows. Usually, income constraints are generated at the household level, whereas constraints on housing wealth pertain to the regional level. Hence, income changes may improve the relative position of households in the housing market, but an increase in homeowners’ housing wealth does not improve their relative position in the housing market

Мовна політика України: проблеми, реалізація, перспективи

У статті аналізується мовна ситуація та державна мовна політика в Україні. Виявляються кількісні характеристики комунікативної потужності української та російської мов. Пропонуються можливі шляхи досягнення консенсусної моделі мовного розвитку країни.The article deals with the analysis language situation and state language policy in Ukraine. The Ukrainian and the Russian languages’ extension in a quantitative sense in the Ukraine are described. Recommendations how to make language policy more effective are given

Measuring Competition using the Profit Elasticity: American Sugar Industry, 1890-1914

competition;measures of competition;price cost margin;profit elasticity

The transmission of unconventional monetary policy to bank credit supply : evidence from the TLTRO

We assess the transmission of the Targeted Longer-Term Refinancing Operations (TLTRO) to the bank credit supply for the Euro area (2014:05-2018:01) and for Portugal (2011:01-2018:01), using a panel data setup. For the Euro area, we find a positive relationship between the TLTRO and the amount of credit granted to the real economy. For the vulnerable countries, the effects of the TLTRO on the stock of credit increased from 2016 to 2017. Among the group of small banks, the effects are stronger in less vulnerable countries. We also find that competition has no statistically significant impact on the transmission of the TLTRO to the bank credit supply for the Euro area. For Portugal, using a difference-in-differences model, we find no statistically significant impact of the TLTRO on credit granted by banks. Finally, bidding banks set lower interest rates than non-bidding banks and the difference seems to be larger in 2017. In Portugal, the effects of the TLTRO on loan interest rates also increased from 2016 to 2017 and are stronger for small banks.info:eu-repo/semantics/publishedVersio