This book examines the performance of the Brazilian economy since the Great Financial Crisis of 2007/2008 with focus on both the productive and financial dimensions, along with distributional and social issues. The book will bring to light the causes of the fast recovery over 2009-2010 as well...

This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model features a forward-looking benevolent government that needs to decide the optimal fiscal stance given the level of public debt, the cyclical position of the economy, and...

European Union, Economic Relations and Macroeconomics: Origins of Foreign Direct Investment in Croatia: Application of an Expanded Gravity Model -- Balkan Area and EU-15: An Empirical Investigation of Income Convergence -- The Economic Relations of Bosnia-Herzegovina and FYROM with the Other...

Introduction -- The Role of Banks in Financial Integration: Some New Theory and Evidence from New EU Members -- Interdependence Between Foreign Exchange Markets and Stock Markets in Selected European Countries -- The Transatlantic Banking Crisis: Lessons, EU Reforms and G20 Issues -- Financial...

This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with a tradeable good produced with capital and a country-specific factor. We also assume that firms face credit...

This paper provides a survey of business cycle facts, updated to take account of recent data. Emphasis is given to the Great Recession which was unlike most other post-war recessions in the US in being driven by deleveraging and financial market factors. We document how recessions with financial...

This paper presents Austria's 2019 Financial System Stability Assessment. The Austrian authorities have proactively strengthened the financial stability framework since the previous Financial Sector Assessment Program (FSAP). The FSAP analysis suggests that banks are, in aggregate, resilient to...

This Technical Assistance (TA) report focuses the compilation of financial soundness indicators (FSI) for the deposit takers (DTs), which cover 15 commercial banks, using the chart of accounts (COAs) and supervisory series as source data. The regulatory and accounting practices of the DTs are...