In the aftermath of global financial crises and amid increasing complexity in banking operations, understanding and managing various types of risk - especially liquidity, credit, and solvency risks - has become a global concern for financial stability. This study addresses a critical gap in the...

Europe is the fastest-warming continent in the world, facing significant challenges to its people, economy, and environment due to climate change. This study examines how climate shocks affect financial stress in European countries, focusing on three key factors: Climate Policy Uncertainty...

Business cycles are often regarded as aggregate phenomena. However, against the backdrop of rapid structural transformation in Chinese economy, they are also influenced by cyclical changes in various sectors and the evolution of the economic network structure. From the perspective of production...

This paper compares the renowned GARCH model with a novel one, the Generalized Autoregressive Score (GAS) model in terms of forecasting performance. Considering the gap in the literature, this study focuses on the Turkish stock and FX markets. The analysis covers 25 years (1999-2023), of which...

We propose a statistical identification procedure for structural vector autoregressive (VAR) models that present a nonlinear dependence (at least) at the contemporaneous level. By applying and adapting results from the literature on causal discovery with continuous additive noise models to...