In order to obtain a better understanding of the transmission channels for monetary policy, this paper assesses the importance of the interest rate and credit channels on business fixed investment in Germany. Our unbalanced panel of financial statements contains 44,345 firm/year observations for...

Since May 2009, National Bank of Romania (N.B.R.) initiated an educational project under the name „Open days for economists students”. The main objective of the project is improving knowledge and understanding, in the academic area, of the central bank activity, the role, functions and...

This paper provides an evaluation of the state of global development two years after the global financial crisis of 2008. It argues that in the wake of the crisis a number of re‐assessments of global development has taken place, especially with respect to (i) the surprising origins of the...

This paper investigates the role of credit market frictions in the transmission of monetary shocks in Pakistan. First, using macro data, it is shown that banking spreads are countercyclical, even it is controlled for credit risk, monetary policy and potential maturity mismatches. It is found...

The big Chinese state-owned banks came as winners out of the global financial crisis. According to the Banker ranking, Chinese banks led the global banking profitability ranking through the years from 2008 to 2010 and contributed one fifth of global banking profits in 2010. The Chinese banking...