type="main" <p>The purpose of this paper is to assess the relationship between credit market development and economic growth for a heterogeneous panel of 20 developing and developed countries with varied growth experiences. The empirical study is based on estimations of generalized method of...</p>

type="main" <p>In recent years, the central banks of Norway and Sweden have published their endogenous policy interest-rate forecasts. In this paper, we evaluate those forecasts alongside policy-rate expectations inferred from market pricing. We find that for both economies, there are only small...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>In an economy with wage-setting unions where the government has gains from redistribution, we analyse the incentive of incumbent politicians to implement monetary discipline (e.g. by joining a monetary union) against the adoption of fiscal reforms, or...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>This paper is primarily concerned with the empirical relationship between the stock market and banking developments and economic growth in a panel of 10 Asian Islamic countries over the period 1990–2009. In order to explore whether there is a positive...</p>

type="main" <p>The current international financial crisis, which started in 2007 in the US and soon spread to the rest of the world, has revealed that the failure of an interconnected and complex financial institution, even though not necessarily large in terms of total assets, can threaten the...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>Liquidity constraints are an important determinant of investment in imperfect financial markets. Firm's investment is a function of marginal q, although liquidity constraints impose an upper bound on investment. Moreover, expectations over future liquidity...</p>

type="main" <p>The aim of this work is to explore how importance sampling (IS) techniques may improve internal banking portfolio optimization models. The current economic downturn contributes to an increase in the credit risk amount of the loan portfolios reducing the quality of the banking credit....</p>

type="main" <p>The New Neoclassical Synthesis (NNS) provides the established macroeconomic foundation for monetary policy. The Great Recession has, however, unveiled a number of unresolved issues. Prominent scholars have stressed the connections of the NNS with the founders of macroeconomic...</p>