This paper analyzes the link between remittances inflows and nonperforming loans (NPLs) in a large sample of developing … indicate a stronger marginal impact of remittances in a context of high macroeconomic instability, suggesting a significant … effect of remittances on the likelihood of the private sector’s credit default during shocks. These results hold even after …

, the paper explores differences in saving behavior nesting the 2008-10 crisis period and four different country groups …

of more crisis prone regimes suggests no simple dividing line between safe floats and risky intermediate regimes. …

nature of the crisis? Contrary to the commonly held view that foreign banks play a stabilizing role during domestic banking …

Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by … constructing an effective crisis stress test. It combines financial markets impact studies of previous exercises with relevant case …. Pertinent concepts, issues and nuances particular to crisis stress testing are also discussed. The findings may be useful for …

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of … current account deficits and external liability positions in the run-up to the crisis. It shows that relative price …

paper, the size and the sources of remittances to Armenia are first discussed. Then, the appropriate definition of … remittances and subsequently present estimates of the macroeconomic effects of remittances to Armenia are outlined. Remittances …

, the role of remittances in the economy, and the policy response to rapid credit growth. It also analyzes the official … payments. It also provides a framework for analyzing the budgetary impact of remittances in Albania, and examines the …

financial channels. Weaker global growth hurts demand for Philippine exports, which in turn affects consumption and investment …