This paper examines the financial position of the key sectors of the Dominican Republic. It contributes to macroeconomic surveillance by identifying financial interlinkages and vulnerabilities through the balance sheet approach. The balance sheet of the economy has been weakening, particularly...

The main aim of this paper is to empirically test the endogenous money hypothesis for the Eurozone. Based on data on loans to private sector, deposits, monetary aggregates, prices and GDP we use three empirical approaches to test the hypothesis: (i) moving correlation; (ii) Granger causality...

The book analyzes distorted structures of the monetary and banking systems in developing countries which are common features. They negatively affect their macroeconomic efficiency and eventually lead to economic distorted performance and distortions. Sudan as an example of LDCs the banking...

This article is concerned with frequency-domain analysis of dynamic linear models under the hypothesis of rational expectations. We develop a unified framework for conveniently solving and estimating these models. Unlike existing strategies, our starting point is to obtain the model solution...

This paper assesses the extent to which common factors underlie indicators of vulnerability to financial crises in emerging market economies and whether this link is changing over time. We use a Bayesian dynamic common factor model to estimate their common component in a sample of up to 41...

The paper provides a concise review of the treatment of external debt in macroeconomic analyses. In this regard, the paper considers: the development of indicators to quantify external debt alongside theoretical and empirical developments in which the indicators are utilized. Following the...