and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence …The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of …

and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence …The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of …

bond and equity premia. We then build a model of bank portfolio choice where the creation of synthetic securities may occur …

We propose a model that delivers endogenous variations in term spreads driven by banks' portfolio decision while facing … the risk of maturity transformation. First, we show that fluctuations of the future profitability of banks' portfolios … affect their ability to cover for any liquidity needs and hence influence the premium banks require to carry the maturity …

Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank …We analyze the effect of negative monetary policy rates on banks, using detailed supervisory information from … reserves exempt from negative rates. More affected banks reduce costly reserves and bond financing while maintaining non …

between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of …Insufficient capital buffers of banks have been identified as one main cause for the large systemic effects of the … of increased bank capital in terms of reduced loans could be substantial, there are good reasons to believe that the …

(industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised … Telecommunication, both in a turn-around phase, and Gas & Oil and Technology, for which there is no panel convergence. Club convergence … tests reveal the existence of convergence clubs and divergent economies within the full panel, which explains why panel …

panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price …

dynamic panel including annual data for 119 countries over the period 1970-2010, and also carry out multivariate Granger … causality tests. The empirical results strongly support the existence of a single cointegrating relationship between employment … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …