Purpose: The authors examine the optimal consumption decisions of households in a micro-founded framework that introduces endogenous default. They study default in the context of a two-period process, assuming three non-overlapping steps of non-payment: delinquency, non-performing loans and...

Using the theoretical predictions of the Bernanke-Blinder [Bernanke, B.S., Blinder, A.S., 1988. Is it money or credit or both or neither? Credit, money, and aggregate demand. American Economic Review 78, 435-459] model, we seek to examine the existence of a bank lending channel through the...

The aim of this study is to examine the effect of bank-specific, industry-specific and macroeconomic determinants of bank profitability, using an empirical framework that incorporates the traditional structure-conduct-performance (SCP) hypothesis. To account for profit persistence, we apply a...

In this article, we empirically analyse the factors which determined consumer credit in Greece in the period before and after the financial liberalization, while accounting for significant changes in structure due to the lifting of credit restrictions and the subsequent impressive boom of...

Effectiveness involves more than simple efficiency, which is limited to the production process assessment of peer operational units. Effectiveness incorporates variables that are both controllable (i.e. efficiency) and non-controllable (i.e. perceived quality) by the operational units. It is a...