Causality analysis in the sense of Wiener-Granger are usually based on a vector autoregressive (VAR) specification of the data-generating process. This is the case in particular for the numerous studies of causality between money and income in macro-economics. Since a VAR specification is...

The authors examine simultaneously the causal links connecting monetary policy variables, real activity, and stock returns. Their interest lies in the fact that the dynamics of asset prices can provide key insights--in terms of information--for the conduct of monetary policy, since asset prices...

There are indications that business dynamism has declined in advanced economies. In particular, firm entry and exit rates have fallen, suggesting that the creative destruction process has lost some of its vitality. Meanwhile, productivity growth has slowed. Some believe that lower entry and exit...

A distinguishing feature of macro stress testing exercises is the use of macroeconomic models in scenario design and implementation. It is widely agreed that scenarios should be based on rare but plausible” events that have either resulted in vulnerabilities in the past or could do so in the...

We don't have an abstract yet, sorry. But I think the title is pretty descriptive.