In today's discussions of central banking, maintaining macro-financial stability has only recently appeared along-side the pursuit of low inflation as an important policy goal. This is in strong contrast to the earlier literature, where financial stability was often the main concern of the...

This paper analyses the determinants of the changes in non-performing loans (NPL) ratio in selected European emerging markets. The model was estimated on a panel dataset using fixed effects estimator for seven Central and Eastern European (CEE) countries between Q3:2007 and Q3:2012. The analyzed...

Using different credit measures, this study identifies the credit booms in Turkey that have occurred after December 2002, and examines their determinants. We find that the primary factors that have a strong correlation with the probability of a credit boom are the changes in the slope of the...

This paper analyses the determinants of the changes in the non-performing loan (NPL) ratio in selected European emerging markets. The model was estimated on a panel dataset using a fixed effects estimator for seven Central and Eastern European (CEE) countries between Q3:2007 and Q3:2012. The...

The objective of the article is to identify impact of economic policy implications on current financial and economic crisis. The analysis examines a hypothesis that the main causes of financial and economic crisis include unbalanced developments of the macroeconomic sphere as well as existing...

Which structural macroeconomic shocks have typified rising house prices? What ultimate factors have compromised financial stability and risk? These questions are answered for the Venezuelan economy by estimating a FAVAR model with macroeconomic, banking and asset price variables. We find that...

In this paper we apply the Early Warning System methodology to ten Central and Eastern European Countries to find useful sets of indicators which could predict macroeconomic and financial imbalances. We argue that finding such indicators is crucial in the current monetary policy framework...

In this document we develop a DSGE model to analyze the effect that a consumption boom and a productivity shock have over financial stability and macroeconomic variables, in both, an economy with and without Basel III capital requirements and earnings reinvestment rule. The results suggest that...

In this paper we apply the Early Warning System methodology to ten Central and Eastern European Countries to find useful sets of indicators which could predict macroeconomic and financial imbalances. We argue that finding such indicators is crucial in the current monetary policy framework...

In Denmark official quarterly national accounts are only available for the period since 1977. The paper constructs a set of summary non-seasonally adjusted quarterly national accounts for Denmark for 1948-2010 in current and constant prices as well as a set of other key quarterly macroeconomic...