This paper examines whether financial crises affect the likelihood that a central bank governor will be replaced. Employing a conditional fixed effects logit model for 101 countries during the period 1970–2007, we find that financial crises significantly increase the likelihood of a central...

ABSTRACT We estimated Taylor rule models for the euro area using Consensus Economics forecasts of inflation and output growth for the period 1998.6–2010.8. We first examined whether the recent financial crisis has affected European Central Bank (ECB) policies. Our results indicate that the ECB...

This article provides an introduction to the special issue. We focus on four themes that are important for policymakers and researchers alike in view of the experiences of the global financial crisis of 2007–09 and the ensuing sovereign debt crisis in the euro area: the relevance of the...

Smallholder farms in the humid highlands of East Africa are undergoing changes that question the notion of the rural space. Characterized by land degradation, increasing population pressure, intensive farming and continuous cropping in small plots, smallholder farmers have increasingly embraced...

We use cross-country data to explore whether temperature and rainfall shocks trigger violent conflict, or not. We include a wide range of country and time samples, and explore whether the impact of weather shocks is conditional on income or political regimes. Our overall conclusion is sobering....

In a financial crisis, an initial shock gets amplified while it propagates to other financial intermediaries, ultimately disrupting the financial sector. We review the literature on such amplification mechanisms, which create externalities from risk taking. We distinguish between two classes of...

Using data for more than 200 banks from 21 OECD countries for the period 2002 to 2008, we examine the impact of bank regulation and supervision on banking risk using quantile regressions. In contrast to most previous research, we find that banking regulation and supervision has an effect on the...

Using data for more than 200 banks from 21 OECD countries for the period 2002 to 2008, we examine the impact of bank regulation and supervision on banking risk. Supervisory control, and regulations on capital and market entry have a significant impact on 'capital and asset risk', while...