euro area as a whole and in its five largest countries. In a Bayesian VAR framework, the two credit supply shocks are … for business cycles. For the euro area, the explanatory power of the two credit supply shocks for GDP growth variations is …

This paper empirically assesses the effects of competition in the financial sector on credit procyclicality by … potential GDP leads to greater credit fluctuation in economies where:(i) competition among banks and,(ii) competition from non … developments in credit markets work to amplify and propagate shocks to the macroeconomy" (Bernanke et al., 1999). Furthermore …

This paper investigates the effects of national unemployment rates on overall age and cause-specific mortality rates in …

unemployment not necessarily by changing what they spend on defense, but by allocating more existing defense resources to personnel … the states in question as an instrument for unemployment. I find that when states experience increases in unemployment …

expansionary demand shock and to an inflationary supply shock under the Taylor rule, asymmetric unemployment targeting, and average … inflation targeting. For each rule we distinguish between cases with zero weight on the unemployment gap and a negative response … to rising unemployment. Across all rules, responding to unemployment leads to lower losses of employment and higher …

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …

law with a focus on the dynamic part of the relationship. We find that the negative relationship between unemployment and … misspecification of the short run unemployment-output relationship. A mixed lag structure indirectly controls for missing explanatory …

Beveridge (full-employment-consistent) rate of unemployment (BECRU), derived from the unemployment-vacancies relationship. The … BECRU is the level of unemployment that minimises the non-productive use of labour. Based on a novel dataset for the period …. The European unemployment problem emerged in the 1980s and 1990s, as Beveridgean full employment gaps increased. In the …