This paper defines the special characteristics of the financial cycle of Spain during the period 1995-2016 and investigates to what extend the stability of the banking system attenuates or exacerbates the financial cycle. The findings of these two empirical analyses highlight that the financial...

This study analyses the dynamics of integration among global financial markets in the context of Global Financial Crisis (2008) by employing a Panel Vector Autoregressive (VAR) model on the monthly data of nine countries and three markets from Jan 2003 to Oct 2015. It was found that there has...

Market risk premia play an important role in the transmission of monetary policy. If the transmission were to work asymmetrically for positive and negative shocks, monetary authorities would face a problematic trade-off: a temporary stimulus could boost the economy in the short run, but at the...

On Friday 16 May 2014, the Bank of England's Legal Directorate, in association with the Centre for Commercial Law Studies at Queen Mary, University of London, hosted its second annual Conference on Monetary and Financial Law. The four main sessions covered: (i) taking stock of the international...