After more than 50 years of economic growth, we are witnessing a world economic crisis generated by a multitude of economic, political, social and other factors. Banks have contributed to the starting of this crisis, especially by making some speculative investments with a high level of risk, as...

Using firm-level data, we provide evidence that, although monetary policy affects real investment, the effect operates differentially: the greater its export intensity the less a firm is affected by tight money. We examine several interpretations and conclude that the impact is transmitted...

Bohm-Bawerk and his follovers took it pretty much for granted that an increase in the rate of interest would induce users of fixed capital, and thereby the economy in the agreegate, to economize on the need for stocks of fixed capital by resorting to methods of production with shorter average...

We use recently developed cointegration tests that determine endogenously the regime shift to test for bilateral real interest rate convergence (real interest rate parity) in the G7 against the US in the 1974-1995 period. In contrast with previous studies that employed classical regression...