Since Lehman Brothers’ filing for Chapter 11 bankruptcy on September 2008, and as a result of the ensuing financial crisis and worldwide recession, policymakers all across the globe responded with a policy mix to better withstand the potential nefarious effects expected by experts and...

This article reviews the potential tensions between monetary and macroprudential policies and tries to quantitatively evaluate their importance. Both types of policies have overlapping transmission mechanisms, since they primarily work through the financial system. One policy shapes the playing...

This study looks at the degree of correlation between stock prices and productivity at different levels, i.e. analysis of the correlations between certain components of the two variables and how correlations vary according to the different frequencies characterising these variables. It should be...

In this paper, we study the co-movements between stock market indices and real economic activity over the business cycle in France, Germany, Italy, the United Kingdom and the United States. Working on the premise that there is neither a single definition of the business cycle, nor a single...