Econometric estimates of the determinants of current account (im)balances invariably start with the accounting ‘identity’ that the current...

This paper analyses the importance of global shocks for the global economic developments and national policymakers from a novel perspective....

This paper reconsiders the policy trilemma in an open economy by incorporating political economy concerns. We argue that the impact of...

Deviations of policy interest rates from the levels implied by the Taylor rule have been persistent before the financial crisis and increased...

This paper quantifies the impact of incentives related to potential membership on institutional change as measured by the World Bank...

This study analyzes the interest rate pass-through (IRPT) from money market rates to various loan rates for up to 12 countries of the European...