The article is devoted to the study of scientific approaches understanding essential features cyclical development economic system. During research, it was found that a characteristic feature its cyclicality, which accompanied by separate periods depression, imbalance and instability in conditions crises, unevenness growth, or downward trends (recession). Sepa-rate interpretation cyclicality de...

Standard banking theory suggests that there exists an optimal level of credit risk that yields maximum bank profit. We identify the optimal level of risk-weighted assets that maximizes banks’ returns in the full sample of US banks over the period 1996–2011. We find that this optimal level is cyclical for the average bank, being higher than the realized credit risk in relatively stable periods w...

Recent increases in U.S. immigration enforcement at the local and state level may be impacting remittance flows to developing countries by curtailing undocumented immigration, restricting the cyclicality of migration flows and limiting employment opportunities for the undocumented. We examine how the remitting patterns of Mexican migrants in the United States are being impacted by two types of ...

Fiscal stance may respond pro-cyclically to the business cycle... This chapter describes the extent to which fiscal policy has been a stabilising or destabilising influence on economic activity in the OECD area over the last two decades, and investigates some of the institutional factors which may have led to the observed outcome. The concerns motivating the chapter relate to the fact that disc...

Capital requirements play a key role in the supervision and regulation of banks. The Basel Committee on Banking Supervision is now changing the current framework by introducing risk-sensitive capital charges. There have been concerns that this will unduly increase volatility in the banks’ capital. Furthermore, when the credit supply is rationed, capital requirements may exacerbate an economic d...

Using two data sets derived from German administrative data, including a linked employer-employee data set, we investigate the cyclicality of worker and job flows. The analysis stresses the importance of two-sided labour market heterogeneity in this context, taking into account both observed and unobserved characteristics. We find that small firms hire mainly unemployed workers, and that they d...

In this paper I try to give answers to some of the questions and problems that arise in relation to point in time (PIT) and through the cycle (TTC) rating philosophies. One of the most confusing of these is the definition of the two approaches that, as I argue, should be based on the scope of information behind the systems. Through a simple model I demonstrate that the results of quantitative a...

Some areas in auditory cortex respond preferentially to sounds that elicit pitch, such as musical sounds or voiced speech. This study used human electroencephalography (EEG) with an adaptation paradigm to investigate how pitch is represented within these areas and, in particular, whether the representation reflects the physical or perceptual dimensions of pitch. Physically, pitch corresponds to...

Utilizing data from 133 countries over the period 1950–2014, we identify fiscal space as a key factor underlying cyclicality of policies. We find that less induces greater procyclicality and show this relationship is nonlinear; in bottom tail distribution need to make significant improvements before they can perform countercyclical policy. Given increasingly dominant role action downturns, high...

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