Monthly Bulletin-European Central Bank and the variables utilized are the quarterly growth rate of the Residential Property … Prices and the quarterly growth rate of the Employment for the period 1981:Q1 – 2010:Q4. VAR and VEC models have been … decomposition points out that the response to an innovation in the quarterly growth rate of the Employment is persistent for the …

We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii)the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …

. Unfortunately, this type of regulation can hamper economic growth by shifting banks' portfolios from more productive risky …-generations model and studies how it affects economic growth, banking sector stability, and welfare. In this model, a banking crisis is … this type of regulation, between ensuring banking stability and fostering economic growth. The model implies an optimal …

Recent literature on financial development and growth has highlighted the possibility of endogenous business cycles … activity and neglect the role of credit to consumption. In this note, we consider an endogenous growth model, where a …

Following the literature on growth, cycles and financial development, this paper develops an endogenous growth model …