The aim of this paper is to analyze controversies of modern macroeconomic theories in the period of the global economic crisis. Ideas, disagreement and similarities between the most important theories in relation to state intervention and anti-crisis economic policy are presented. The topical...

This paper aims to evaluate the macroeconomic and bank-specific determinants of non-performing loans (NPL) in the Nepalese banking system using both static and dynamic panel estimation approaches. The study considers 30 Nepalese commercial banks over the period 2003-2015 and uses 7 bank-specific...

Inflation expectations are very important when it comes to monetary policy and its decisions. In countries which are applying inflation targeting, inflation expectations reflect prediction of economic agents of movement of inflation rate in mid and long term. Anchored inflation expectations and...

This study provides robust evidence on how the choice ofthe policy instrument for monetary policy influences its impact oneconomic activity. We study the case of South Korea for the period1980-2017. We use FAVAR models that allow a comprehensive explo-ration of different areas of economic...

The independence of Central Banks is still considered tobe a credibility factor in ensuring price stability. Thus, many centralbanks in transition countries have undergone a change in their stat-utes in order to achieve greater independence from governments. Inthis vein, within a decade, North...

The research work presented below addresses the possible concern of central bank independence through the development and application of econometric models. The complexity of the modelling has allowed a step further in corroborating that financial independence is not only linked to the...

Monetary policy and balance of payments (BoP) are the key parameters in any country's economy performance. This study is an attempt to re-explore the impact of domestic credit provided by the financial sector, real interest rate, real GDP growth, inflation rate, and exchange rate on the balance...

Faced with COVID-19 crisis, central banks have once again become one of the key players in the economies. The aim of this article is to analyse the actions of Central and Eastern European central banks within all their roles (monetary policy, micro-and macroprudential policy, deposit...