The lack of theoretical consensus on the causality direction between real and financial spheres as well as on the macroeconomic importance of transmission channels drive to an empirical approach of the links between the two areas. The aim of this paper is to offer a method for the analysis of...

Monetary policy contributes to stabilize growth. Particularly in a reforming context for financial and economic activities, it is important to know how central bankers’ decisions through the short term interest rate of the money market are transmitted to the real variables: the GDP and the...

In this paper, we implement Granger causalty tests using panel data as methodology perfected by Hurlin (2004, 2005) and Hurlin and Venet(2004). We consider the bilateral trade patterns of the European Union with 17 countries over the period 1976-2000. We show that for the whole sample, there are...

Information technology (IT) extensively regulates organizational processes in contemporary organizations by allowing or preventing behaviors —either to the benefit or detriment of the organization. Yet regulatory processes that create, maintain, and enforce rules in IT-rich contexts have not...

By introducing a structure of the balance sheets of the banks, which takes into account their bilateral exposures in terms of stocks or lendings, we get a structural model for default analysis. This model allows us to distinguish the exogenous and endogenous default dependence. We prove the...

The post-crisis financial reforms address the need for systemic regulation, focused not only on individual banks but also on the whole financial system. The regulator principal objective is to set banks' capital requirements equal to international minimum standards in order to mimimise systemic...

The post-crisis financial reforms address the need for systemic regulation, focused not only on individual banks but also on the whole financial system. The regulator principal objective is to set banks' capital requirements equal to international minimum standards in order to mimimise systemic...