From a demand-side perspective, this paper empirically investigates whether there is a shift in preference to clean energy consumption from dirty energy consumption for a panel of OECD countries. We focus on the possibility of non-symmetric preference shift by consumers to rising and falling...

Differentiated terms for clean and dirty capital loans have become a popular tool among commercial banks as they promote themselves as advocates of environmental sustainability. The question remains whether such initiatives by the commercial banks are consistent with the welfare objective of the...

The Financial Instability Hypothesis associated with Hyman Minsky has profound implications for the conduct of monetary policy in modern capitalist economies. At its core is the proposition that the central bank may contribute to the financial fragility of leveraged firms in its pursuit of...

We apply the asymmetric ARDL model advanced by Shin, Yu and Greenwood-Nimmo (2009) to the analysis of the patterns of pass-through from policy-controlled interest rates to a variety of longer-term rates in the U.S. and Germany. Our results reveal three main phenomena. Firstly, while the e®ect...