We estimated the effect of the share of mortgage lending by individual banks (together with some control variables) on two measures of financial stability - the bank Z-score and the nonperforming loan ratio - for a sample of 212 banks in 19 emerging Asian economies for 2007–2013 from the...

Public pension burdens in most emerging Asian economies are still relatively small. However, there are a number of reasons to believe that they will increase markedly in the coming years. First, many Asian economies will face rapidly aging populations, which will raise pension and other...

Credit creation in the housing market has been a key source of systemic financial risk, and therefore is at the center of the debate on macroprudential policies. The loan-to-value (LTV) ratio is a widely used macroprudential tool aimed at moderating mortgage loan creation, and its effectiveness...

An energy resource as a production input plays a major role in various economic sectors, including commodity production, transportation, and electricity generation. However, increased energy consumption may lead to more air pollution, resulting in negative health impacts in a society. The main...

This paper reviews the effectiveness of unconventional monetary policies and their relevance for emerging markets. Such policies may be useful either when interbank rates fall to zero, or when a credit crunch or rise in risk premium impairs the normal transmission mechanism of monetary policy....

The aftermath of the global financial crisis of 2007 - 2009 has called the export-led growth model of Asian economies into question. This paper describes the contribution that macroeconomic policy can make to promote a rebalancing of growth away from dependence on exports to developed economies...