The Great Recession endured by the main industrialized countries during the period 2008–2009, in the wake of the financial and banking crisis, has pointed out the major role of the financial sector on macroeconomic fluctuations. In this respect, many researchers have started to reconsider the...

The global economic recession, referred to as the Great Recession, endured by the main industrialized countries during the period 2008--09, in the wake of the financial and banking crises, has pointed out the current importance of the financial sector in macroeconomics. In this article, we...