imbalances expressed themselves, synthetically, through high variations of some specific indicators: inflation rate, bank loans … background of the conditions in Romania, in 2008-2013. There are taken so into calculations data for the previously mentioned …

rates, and iii) insensitivity of bank stock return volatility to the changes in the short-term and long-term interest rate … moment of bank stock return distribution to the short-term and long-term interest rates and their respective volatilities … 1988-2000 period. Several hypotheses of: i) insensitivity of bank stock return to the changes in the short-term and long …

and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence …