We extend the literature on the bank lending channel in two aspects. First, rather than following the literature by analyzing the impact of banks'liquidity (measured via their asset portfolio) on monetary policy transmission, we study the role of banks' actual liquidity risk, as measured by the...

As Africa continues its decade of rapid economic growth, the continent also faces the risk of becoming more susceptible to financial 'contagion.' Capital flows and trade linkages might cause one country's currency market to influence those of its neighbors. Likewise, shocks to global commodity...

In this paper we use Turkish household labor force data to address a number of conceptual issues pertaining to the wage curve, an empirically derived negative relationship between the real wage level and the local unemployment rate. First, we show that in developing economies where labor markets...

The paper measures the size of primary-sector surpluses in the form of ground-rent appropriated by social subjects other than landowners in Brazil, and assesses their weight in supporting the process of capital accumulation during the period 1953--2008. For that purpose, the paper identifies the...