Air transport is considered a cyclical industry sensitive to the macro-environment in which it operates. As aviation policy makers and regulators strategically plan for their future, they need to consider the systematic and synergistic effects of common factors which comprise the operating...

Israel’s monetary policy framework is broadly sound. Inflation targeting was introduced in the early 1990s, and low single-digit inflation was established by the end of the decade. However, fast transmission from the exchange rate to inflation means the operational challenges differ somewhat...

Shadow banking, an informal, largely unregulated, financial market, has become increasingly important in China because the fact that it is largely unregulated can threaten the viability of the financial system. This study discusses various issues involved in Chinese shadow banking, including the...

The aim of this paper is to provide a measure of the relationship between employment and output growth in Italy and to illustrate its dynamics across a relatively extended time-span (1970-2004). Given the well-known and persisting regional differences of labour market performance and dynamics in...