This paper presents a methodology for incorporating a regime-based approach to portfolio optimisation, specifically for fixed income portfolios. By segmenting the market into distinct periods or "regimes" characterised by different market conditions, such as high or low volatility, investors can...

The acronym LISBETH stands for LInking ecosystem Services and Benefits to the Economy Through bridging. Its purpose is to explore the applications of ecosystem services (ES) accounts, which measure the contribution of ecosystems to human well-being and economic growth. This is the third of a ser...

Standard methods for constructing error bands around impulse response functions consider them in isolation, neglecting the estimation uncertainty that arises across variables and time horizons due to the joint nature of the underlying structural parameters. For example, one approach to assessing...

This paper investigates the implications of a potential loss of credibility in the central bank’s ability to bring inflation back to target in the medium-term (”de-anchoring”). We propose a monetary policy framework in which the central bank accounts for de-anchoring risks using a regime-switchi...

The study delves into the future landscape of EU Cohesion Policy, set against the backdrop of three challenges: globalisation and technological advancements, shifting demographic trends, and the transition to a climate-neutral economy. To assess the impacts of these challenges on various EU regi...

Commission Decision of 25 February 2016 setting up a Scientific, Technical and Economic Committee for Fisheries, C(2016) 1084, OJ C 74, 26.2.2016, p. 4–10. The Commission may consult the group on any matter relating to marine and fisheries biology, fishing gear technology, fisheries economics, f...

This thesis is composed of 3 chapters that discuss the role of information frictions in labor market dynamics. A standard model of frictional market of Mortensen-Pissarides search and matching, works on the assumption that the underlying productivity process for generating output is known to wor...

This publication presents a comprehensive index assessing climate risk for over 170 countries, distinguishing between physical and transition risks while accounting for adaptation and mitigation capacities. It introduces a robust, data-driven methodology to identify key vulnerabilities and infor...

We characterize optimal monetary policy under state-dependent pricing. The framework gives rise to nonlinear inflation dynamics: The flexibility of the price level increases after large shocks due to an endogenous rise in the frequency of price changes. In response to large cost-push shocks, opt...

This thesis contains three independent essays exploring macroeconomic dynamics through the lens of quantitative models, focusing on housing, demographics, macroprudential, monetary and fiscal policy. Chapter 1 examines the impact of demographic change on house prices and the real rate, utilizing...