This paper tries to shed light on the historical analogies of the current crisis. To that end we compare the current sample distribution of Dow Jones Industrial Average Index returns for a 769-day period (from 15 September 2008, the Lehman Brothers bankruptcy, to September 2011), with all...

This paper examines the sources of real exchange rate (RER) volatility in eighty countries around the world, during the period 1970 to 2011. Our main goal is to explore the role of nominal exchange rate regimes and financial crises in explaining the RER volatility. To that end, we employ two...

This paper focuses on how the European Central Bank's (ECB) monetary policies influenced non-financial firms. The paper's two main contributions are, first, to shed light on non-financial firms' decisions on leverage, and how the ECB's conventional and unconventional policies may have affected...