The paper investigates, from the welfare and growth point of view, the determination of the optimal capacity of the banking system. For that purpose, we consider an overlapping generation model with endogenous growth. There is horizontal differentiation and imperfect competition in the banking...

This Study and Research Paper is devoted to different estimates of the French economy's potential output and output gap. Several methods, which are presented in detail, are put forward to measure these indicators. The first two sections of the paper profile statistical univariate approaches:...

In order to assess transmission mechanisms between global and domestic house prices, and possibly contagion effects, we use a large database of macroeconomic variables for OECD countries. We extract common factors to summarize the comovements of the variables and include them in stationary FAVAR...

The paper investigates, from the welfare and growth point of view, the existence of a trade-off between the stability and the efficiency of the banking system, studying the costs and benefits of regulatory programs. Welfare is considered in the context of an overlapping generation model with...

This Paper develops a broad concept of systemic risk, the basic economic concept for the understanding of financial crises. It is claimed that any such concept must integrate systemic events in banking and financial markets as well as in the related payment and settlement systems. At the heart...

Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Table of Contents -- Preface -- Introduction -- 1 Notions -- 1.1 Financial Stability -- 1.2 Financial Fragility, Liquidity, and Leverage -- 1.2.1 Definitions -- 1.2.2 Theoretical Underpinnings -- 1.2.1.1 The Diamond and Dybvig...