In the context of the entire world's efforts to start recovering from one of the worst economic crisis, finding the main drivers of growth is increasingly important. The European Commission's new proposal - "Europe 2020"- states innovation as one of these main drivers, and promotes the...

This paper dwells upon the contingent claims analysis (CCA) framework in order to quantify the risk of financial distress at the level of the sectors of economy (banking, sovereign and corporate sector). After the CCA risk indicators have been obtained for the three analyzed sectors, a global...

In formulating monetary policy, central banks must cope with substantial economic uncertainty. Economic uncertainty can arise from different sources: the state of the economy, the nature of economic relationships, and the magnitude and persistence of ongoing shocks. Robust control theory...