Japanese economic activity has been stagnant since the collapse of the speculative asset-price bubble in 1990, despite highly expansionary monetary policy which has brought interest rates down to record low levels. Although several reasons have been put forward to explain the sustained weakness...

The financial crisis of 200709 has highlighted the importance of developments in financial conditions for real economic activity. The authors estimate the effect of current and past shocks to financial variables on U.S. GDP growth by constructing two growthbased financial conditions indexes...

This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis. We use data from the Canadian financial system to show that these publicly available risk measures, while indicative of initial...

The author proposes a new test for financial contagion based on a non-parametric measure of the cross-market correlation. The test does not depend on the assumption that the data are drawn from a given probability distribution; therefore, it allows for maximal flexibility in fitting into the...

Dieses Buch nutzt die Methode der bilanztechnischen bzw. saldenmechanischen Darstellung, um die Abwicklung des unbaren Zahlungsverkehrs wie auch weitere Finanzgeschäfte zu analysieren. Beim Zahlungsverkehr über Korrespondenzbanken, über ein gemeinsames Zentralinstitut oder die Zentralbank ist...

In der klassischen Ökonomik ist in der Regel der statische Gleichgewichtszustand einer einfachen Wirtschaft der zentrale Betrachtungsgegenstand. Mit dem Simulationsprogramm EconSim entwickelt der Autor ein Modell, das es Ökonomen ermöglichen soll, deutlich komplexere Abbilder realer...