This paper discusses how financial stability governance has evolved and how central banks and financial regulators are coping with the threats posed by climate uncertainty, providing an overview of G20 countries' green central banking experiences in the past 20 years. The analysis shows that...

In the context of the ongoing financial and economic crisis reference is frequently made to the Great Depression of the 1930s and fears are voiced that we may have embarked on a similar path. This article looks at the conditions prevailing back then and compares them with the present economic...

The Great Recession presented the US with economic and political challenges that had not been experienced since the time of the Great Depression. This article provides a retrospective on the government’s response to the crisis ten years after the enactment of the Dodd-Frank Act, as the country...

This paper examines the impact of the COVID-19 pandemic on gross fixed capital formation across the euro area. The empirical analysis suggests that the intensity of the lockdown measures to contain the spread of the virus and the country-specific structure of the economy along with other...

The volatility of financial markets has attracted a lot of attention in recent years. However, while particular episodes, such as the bond market turbulence in 1994 and considerable exchange rate movements in 1995, may give the impression that markets have become more volatile, there appears to...

To boost investments into sustainability, small and medium enterprises (SMEs) - a crucial part of the economy - must play a role. The current sustainable finance framework focuses on capital markets. But SMEs normally get external finance from banks, and bank-based financial systems work...