The current financial crisis has once again shown that the inherent pro-cyclicality of lending can trigger financial cycles with a potentially substantial impact on the real economy. Against that background, the article analyses the size and dynamics of the debt ratios of the various...

The article begins by establishing that the share of wages in GDP has declined quite sharply in Belgium over the past five years. The fall in the wage share in 2003-2005 was due partly to the deteriorating economic conditions at the beginning of this century. It can also be seen as a...

Recent developments in stock and house prices revived the debate on the role of asset prices in the conduct of monetary policy. The article first explores the links between asset price fluctuations, macroeconomic developments and monetary policy, highlighting the possibility of asset price booms...

To fight climate change, global greenhouse gas (GHG) emissions should be reduced dramatically. However, observations for the period 2008-2009 indicate that several major countries will need to step up their efforts to reach their Kyoto target by 2012. For the period after 2012, only the EU has...

Wheat is the most important cereal crop in the semi-arid eastern Mediterranean region that includes northern Syria. Knowledge of wheat root depth and the vertical distribution during the winter growing season is needed for sound scheduling of irrigation and efficient use of water. This article...