This paper addresses the positive implications of indexing risky debt to observable aggregate conditions. These issues are pursued within the context of the celebrated financial accelerator model of Bernanke, Gertler and Gilchrist (1999). The principal conclusions include: (1) the estimated...

Is a real business cycle model extended with non-stationary technology shocks able to describe small open economies or are credit market imperfections necessary in addition? This study addresses this question by providing evidence of the relative ability of a model with and without financial...

We examine the effect of competition and business cycles on bank capital buffers around the world. We use a dataset of 3,461 banks from 25 developed and 54 developing countries over the 2001-2013 period. Banks tend on average to exhibit pro-cyclical behavior. But capital buffers seem to be more...

Diabetes is one of the leading causes of death and disability worldwide, and affects people regardless of country, age group, or sex. Using the most recent evidentiary and analytical framework from the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD), we produced...