During the first two decades of the 20th century, diarrheal deaths among American infants and children surged every summer. Although we still do not know what pathogen (or pathogens) caused this phenomenon, the consensus view is that it was eventually controlled through public health efforts at...

We construct credit risk indicators for euro area banks and non-financial corporations. These are the average spreads on the yield of euro area private sector bonds relative to the yield on German federal government securities of matched maturities. The indicators are also constructed at the...

[fre] Asymétries financières et transmission de la politique monétaire en Europe par Virginie Coudert et Benoît Mojon . Dans la perspective d'une politique monétaire unique en Europe, il est essentiel de savoir si une même politique monétaire a un impact similaire sur les économies...

[eng] Financial Structures and The Interest-Rate Channel in Monetary Policy for the Euro Area . by Benoît Mojon . This paper analyses differences in financial structures across euro-area countries and their implications for implementing ECB policy through the interest-rate channel. It focuses...

[fre] Les liens entre inflation mondiale et dollar sont analysés à partir des politiques monétaires et de l'évolution des matières premières, Sur le premier point, les auteurs concluent que la politique monétaire américaine ne peut être tenue pour directement responsable de la...

We use state-space methods to construct new estimates of Australian gross domestic product (GDP) growth from the published national accounts estimates of expenditure, income and production. Across a range of specifications, our measures are substantially less volatile than headline GDP growth....

We use a structural vector autoregression model to characterise the aggregate and industry effects of exchange rate movements on the Australian economy. We find that a temporary 10 per cent appreciation of the real exchange rate that is unrelated to the terms of trade or interest rate...