, raising the concern of possible negative impact of low interest rates on households’ propensity to save. In this analysis, we … and their dynamics over time have not been a key determinant of saving and investment behavior of households in the region …The past decade following the global economic crisis (2008-09) will be certainly marked as the era of historically low …

economy being in medium-term equilibrium. Results suggest that the slowdown reflects both return of the credit activity to its …What explains the post-crisis slowdown in bank credit to private sector in the South-East European economies? We try to … fundamental value, and return of the fundamental values to their equilibrium levels, after years of excessiveness during the pre …

In this paper, we empirically assess the effects of the decomposed private sector credit on the economic growth and … economic growth, whereas for the household credits the result is ambiguous. Regarding the impact of the decomposed credit on … the REER, used as a measure of the price competitiveness of the specific countries, our findings suggest that both …