This paper examines the importance of credit market shocks in driving global business cycles over the period 1988:1-2009:4. We first estimate common components in various macroeconomic and financial variables of the G-7 countries. We then evaluate the role played by credit market shocks using a...

The purpose of this article is to analyze the relationship between the financial system and the degree of centrality of the city where it is located. Initially, a unique theoretical discussion is conducted to analyze how the degree of centrality can affect the behavior of a bank in a specific...

The aim of this piece is to analyse, based on the post-keynesian framework, the relationship between the centrality and dynamism of regions and the behaviour of some regional financial variables at Brazil from 1988 to 2000, which is a period of different levels of macroeconomic uncertainty. The...

The aim of this piece is to identify the variables that explain the locational decision of a retail bank. The paper’s motivation is the acknowledgment of the necessity of to retake the discussion about the role of money, financial system and monetary policy on the development of regions, due...

The aim of this paper is to study the access to bank services and the public liquidity preference in Minas Gerais. The theoretical approach will be post-keynesian, which suggests that in peripherical regions the liquidity preference would be higher, due to the uncertainty. This situation leads...

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...

This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equity prices. We report three main results. First, financial cycles tend to be long...

This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial...

This paper aims at analyzing the role of several monetary variables in the development of different regions based on particular understandings of what a region is and the money functions in capitalist economies. The concepts of central place and economic poles are used to characterize the...

This paper aims, in an exploratory way, to discuss the regional network of financial services in Brazil and its role in the configuration of the Brazilian urban network and its hierarchy. To achieve this objective, the paper, based on the seminal works of both CHRISTALLER (1966) and LÖSCH...