The traditional monetary policy transmission mechanism is based on the fact that, in the wake of a restrictive monetary policy stance, the interest rate rises and that therefore interest-rate-related variables, such as corporate asset formation, dec1ine or increase less sharply than at the given...

The paper offers a comparative analysis of household wealth in the main industrial countries: the United States, the United Kingdom, Japan, Italy, France, Germany and Spain. Particular attention is devoted to Italy. We distinguish between financial wealth, real assets, indebtedness, and net...

It is commonly agreed that the term spread and stock returns are useful in predicting recessions. We investigate whether interest rate and stock market volatility play an additional role as recession indicators. Both risk-return analysis and the theory of investment under uncertainty provide a...