This paper tries a conceptual framing of the issue of financial stability in economic theory and also to identify solutions to address episodes of financial instability. An essential reference is Minsky's financial instability hypothesis, which argues that a fundamental feature of the financial...

This paper presents a framework for credit risk modeling of the household sector that follows a top-down approach using panel techniques. The results indicate that the determinants of default on bank loans are unemployment, exchange rate, industrial production, indebtedness and interest rate...

Romania is preparing to enter a superior stage of integration - the admission in the euro zone. In this context, the study estimates the structural budgetary deficit, considering it as being one of the most relevant indicators to evaluate the performance of the fiscal management, as well as the...