Our concern in this paper is two-fold: first to see whether the determinants of bank distress and failure have been any different in the GFC from previous years: second to see whether simple measures of capital adequacy outperform their risk-weighted counterparts as predictors, despite the focus...

Over the recent decades researchers in academia and central banks have developed early warning systems (EWS) designed to warn policy makers of potential future economic and financial crises. These EWS are based on diverse approaches and empirical models. In this paper we compare the performance...

This article investigates the impact of domestic monetary policy rate announcements on the stock markets of New Zealand, Australia, the United Kingdom and the euro area, using event-study methods to identify stock price reactions to the unanticipated/surprise component of announcements. As...

This book uses detailed data on individual firms and households to explore the basis behind Estonia’s record as the most successful of all the EU countries over the last decade. We find that much of the reason is the greater flexibility of the Estonian economy, in both price setting in...

This article provides a critical analysis of the models and methods which have been used to estimate the effects of economic integration on trade and suggests the most fruitful lines of further development. Both the problem of the examination of the effects of past events and problems in the...

We consider the lessons that might be learned by other countries from the problems with Northern Rock and the reactions of the UK authorities. We ask whether the surprise of the run on the bank came because economic analysis did not provide the right guidance or whether it was simply a problem...