This study examines the relationship between sovereign spreads and banks in terms of risk transmission, using the seven largest Italian banks as a sample over the period from 2003 to 2023. Our objective is to quantify and compare volatility spillovers, and to investigate whether bank-specific...

This study explores the complex relationship between banking sector performance and economic growth in Central and Eastern European (CEE) countries. Given the banking sector’'s prominent role within the CEE financial system, our research examines its potential as a driver of economic growth...

This paper investigates how macroeconomic policy shocks in Turkey affect the total unemployment and provides evidence on the differential responses of the unemployment by sectors of economic activity. Our paper extends the previous work in two respects. First, we consider not only the response...

We use a CES production function with no restrictions on technical bias to derive relationships between the growth in relative factor shares and (i) the capital to labor ratio and (ii) the ratio of marginal products. These relationships constitute a parsimonious specification used to identify...

This paper shows that indicators and tests of government solvency should not be used alternatively. We present a simple and intuitive procedure to integrate simultaneously the results from the two approaches to fiscal sustainability. An application to U.S. post-World War II data demonstrates the...

This paper examines the process of relative food price volatility and investigates how short-run deviations from the relationship between relative food prices and particular macroeconomic fundamentals affect this volatility for the case of Greece. The methodology followed in this paper to...

This study aims to verify if there is a negative relation between the investment of Brazilian companies and the impeachment of former president Dilma Rousseff. The period of analysis considers three previous (2013-2015) and subsequent (2016-2018) years to impeachment. As a result, although...

This research paper analyses the relationship between gross domestic product and public expenditures in nominal terms. The analysis is being done by using the standard Peacock-Wiseman specification of the Wagner's law and provides the results for the Visegrád Four countries, i.e. the Czech...

Our paper aims at improving the understanding for the role of public employment agencies in job matching. We analyze the effects of the restructuring of the Federal Employment Agency in Germany (Hartz III labor market reform) for aggregate matching and unemployment. Based on two microeconomic...

This paper examines the effectiveness of forward guidance in an estimated New Keynesian model with imperfect central bank credibility. Forward guidance and the credibility of the central bank are uniquely modeled by utilizing a game-theoretic evolutionary framework. We estimate credibility for...