In this paper we assess the effectiveness of macroprudential policies and capital controls in supporting financial stability. We construct a large and granular dataset on prudential and capital flow management measures covering 53 countries during 1996-2016. Conditional on a credit boom, we...

We explore the early warning properties of a composite indicator which summarizes signals from a range of asset price growth and asset price volatility indicators to capture mispricing of risk in asset markets. Using a quarterly panel of 108 advanced and emerging economies over 1995-2017, we...

This paper explores the dynamic relationship between firm debt and real outcomes using data from 24 European economies over the period of 2000-2018. Based on macro data, it shows that a rise in credit to firms is associated with an increase in employment growth in the short-term, but employment...

Mit diesem Band wird zum ersten Mal eine Einführung vorgelegt, die alle drei baltischen Staaten Estland, Lettland und Litauen systematisch vergleichend analysiert. Meist werden die drei Staaten vor allem von westlichen Beobachtern in einem Atemzug genannt. Während dies auf den ersten Blick...