Monetary policy of the ECB is conducted for average economic conditions of the euro area, which means that monetary policy could have diverse effects in different euro area banking sectors (economies). Presence of (regional) credit channel was tested using monthly data for euro area member...

The present system of the Russian economy has a deep historic background, especially regarding the role of the state which plays a prominent role in economic and social life. Natural resources' trade is the main source of state revenues as well as central part of Russian foreign trade with its...