In this paper we explore linkages between financial services tradeand growth. We offer aformalization of the argument that trade, through the fostering offinancial market integration,may yield important long-run effects related to increasedcompetition. The relationshipsformalized here link...

In recent years there has been a growing interest in the impact of inequality on economic growth. Both theoretical and empirical approaches have produced ambiguous results on sign and size of this relationship. Although there is a considerable part of the literature that considers inequality...

We propose to pool alternative systemic risk rankings for financial institutions using the method of principal components. The resulting overall ranking is less affected by estimation uncertainty and model risk. We apply our methodology to disentangle the common signal and the idiosyncratic...