Can extending social welfare expenditures promote economic growth? This issue has been discussed extensively, with some research pointing to net benefits while others find a net negative impact. Insight can be gained by careful analysis of several sub-questions. For example, for two countries...

This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will be different when monetary policy is asymmetric. Methodologically, we use a set of high frequency panel data for Taiwan commercial banks and adopt Arellano and Bond's (1991)...