The article focuses on maturity mismatching of loans in OECD economies during the last housing boom (which ended with the subprime mortgage crisis in 2007). Our model gives rise to an indicator measuring how strong the incentives for speculation were. The indicator is also used to estimate the...

In this article, we show that the recent financial crisis has significantly affected the potential total factor productivity (TFP) of the four largest euro area economies, as well as that of the rest of the euro area. We used a reduced-form equation of TFP, based on an approach recently...