¥ After falling by 1.5 per cent in 2009, world GDP will grow by 2.9 per cent in 2010. ¥ The recovery will be driven by emerging economies led by China, whose GDP will expand by 9.2 per cent next year. ¥ The Japanese economy will recover by 0.7 per cent in 2010 after shrinking by 7 per...

Economic performance in the UK improved over 1997 and 2007 in comparison to other OECD countries. We employ growth accounting and cross–country regression analysis to identify factors behind this relative improvement in performance. Based on growth accounting analysis, we find out that,...

Simple time series models looking for the effect of financial crises on output generally find that they reduce the sustainable level of output permanently. However, not all crises are the same, with some being caused by recessions and others causing or preceding recessions. Using a common...

In the wake of the subprime crisis, there has been widespread discussion of the disproportionate risks posed to the financial system by large banks that may consider themselves “too big to fail”. This has led in turn to suggestions that radical policies with the effect of reducing bank size...

Simple time series models looking for the effect of financial crises on output generally find that they reduce the sustainable level of output permanently. However, not all crises are the same, with some being caused by recessions and others causing or preceding recessions. Using a common...

Policy proposals on the new international standards for bank capital and liquidity are being debated without any methodical evaluation of their effects on both crisis probabilities and concurrent social costs.