The aim of this paper is to develop an aggregate stability index for the Romanian financial system. The index which is meant to enhance the set of analysis used by the central bank to assess the financial stability accurately reflects the financial stability dynamics and the periods with...

The specialists paid a special attention to credit growth in the transitions countries due to its sharp increase during the last years. However, once the financial crisis started in 2008, the credit activity evolution reversed. Consequently, forecasting the credit trend has become a subject of...

The financial stability represents on of the major central banks and surveillance authorities preoccupations. Identifying the quantitative methods for assessing financial stability is a new challenge for the economists. The aim of this paper is to develop an aggregate stability index for the...

The process of regulation and supervision of the financial system represents a pillar for the financial stability. A recent trend in the institutional framework for financial supervision is the creation of a Single Supervision Authority for the supervision of the banking sector, the insurances...

The speculative bubbles of asset prices, and especially their burst out, have a negative impact on the financial stability and also on the prices stability – the main objectives of central banks. As a consequence, a more attentive observation of the evolution of these prices is necessary. In...

The financial stability can not be achieved without the existence of a lender of last resort. The Bagehot rule is not always appropriate because the complexity of the financial systems increased and because the financial turbulences have nowadays a global impact. In this study we present the...

This study analyzes the time-frequency relationship between oil price and exchange rate for Pakistan by using measures of continuous wavelet such as wavelet power, cross-wavelet power, and cross-wavelet coherency. The results of cross-wavelet analysis indicate that covariance between oil price...

The present study is an attempt to test whether sectoral indices of Bombay stock Exchange have diversification benefits in the same. For the analysis, we used daily data spanning from 2/1/1999to 3/31/2011. To test our hypothesis we used Fractional cointegration test. Study found that, ingeneral,...

The study analyzed Granger-causality between interest rate (IR) and share prices (SP) for the India by using monthly data covering the period of 1990M1 to 2009M3. The time-frequency relationship between IR and SP was decomposed through continuous wavelet approach for the first time in the study....

This paper investigates the unit root properties of energy consumption per capita of 103 high, middle and low income countries using first and second generation panel unit root tests. Our results indicate that energy consumption per capita contains stationary process in all groups of countries....