This paper analyses how country-specific institutional quality shapes the impact of monetary policy on downside risks … euro area average hides significant heterogeneity across countries. In economies with weak institutional quality, medium … relatively stable in countries with high institutional quality. This suggests that improvements in institutional quality could …

, the authors examine the role of institutional quality in the effects of the shadow economy on economic growth, which means … Moments) method. The estimation results show a threshold value of institutional quality (λ = 21.23%). Accordingly, shadow … economy negatively affects economic growth. This shows that improving institutional quality can help ASEAN countries limit the …