This paper checks whether state-ownership of banks is correlated with ending behavior over the business cycle and finds that their lending is less responsive to macroeconomic shocks than the lending of private banks. The paper tests whether this is due to the presence of quot;lazyquot; public...

English Abstract: The authors review the availability and allocation of commercial credit in China, the investment options presented to savers and the funding options available to Chinese banks. They highlight the markets intrinsic deficiencies, vast externalities and tremendous potentials for...

Given that state-owned banks are found to play a credit smoothing role over the business cycle, this paper adds to the literature by examining the lending behavior of non-state banks from the perspective of political connections. Using the sample of 128 Chinese banks over the period 2007-2014,...

This unique proposal is an effort to reduce the number of foreclosures currently being processed in America. The proposal offers a solution that would stabilize real estate markets while minimizing the number of foreclosures and keeping homeowners in their homes. The bases of this proposal are...

While there are many methods to measure the competitiveness of an economy, most of these concepts ignore the fact that competitiveness can change because of market processes like wage negotiation but also because of political decision-making. Governments that compete with others for factors of...

On the occasion of related proposals by the European Commission and the Eurogroup, this paper proposes to entrust the ESM with the hosting of the ESRB in the medium term. The novel proposal aims at strengthening the macro-prudential expertise of the ESM and at enhancing the independence of the...

This paper empirically links the efficiency and performance assessment of the general government, proxied by efficiency scores, to the trust in government. Government spending efficiency scores are first computed via data envelopment analysis (DEA). Then, relying on panel data and instrumental...

We link governments' spending efficiency scores, to sovereign debt assessments made by financial markets', more specifically by three rating agencies (Standard & Poors, Moody's and Fitch). Public efficiency scores are computed via data envelopment analysis. Then, we rely notably on ordered...

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...