This paper studies the implications of exit strategies from unconventional monetary policy. Using a Markov switching DSGE model with financial frictions, agents in the model have rational expectations about the probability of financial crises, the probability of an unconventional response to crises, and the exit strategy used. Selling offassets quickly produces a double-dip recession; in contra...

Only a few cross-country empirical studies have been conducted to measure the performance of commercial banks especially before, during, and after crises (financial or political). This study makes an attempt to fill the gap in literature by investigating the impacts of crises on Gulf corporate conceal (GCC) commercial banks performance over the period between1997-2007. The rationale behind this...

In the face of global crises and complex policy problems, governments have been required to regulate faster better attempt build a sense shared ownership. Giving opportunity business, citizens public shape, reform challenge regulations is important improve design quality regulations.

The global financial crisis of 2008–12 prompted a renewal of both analytical thinking and policy practices regarding the interaction and mutual comple­ mentarity between monetary and prudential regulatory policies, given the simul­ taneous objectives of macroeconomic and financial stability. Many of these issues were present before the global financial crisis but have been thoroughly revisited ...

At a time when the worst global financial crisis since the 1929 Great Depression threatens the very survival of many global financial giants, the relatively better financial performance of Chinese banks stands out. This is commendable considering that these banks were “technically insolvent” not too long ago. This paper reviews China’s banking reform strategy and its implementation and analyzes...

International financial integration helps to diversify risk but also may increase the transmission of crises across countries. We provide a quantitative analysis of this trade-off in a two-country general equilibrium model with endogenous portfolio choice and collateral constraints. Collateral constraints bind occasionally, depending upon the state of the economy and levels of inherited debt. T...

Abstract Crises are often viewed as catalysts for change. The coronavirus disease crisis is no exception. In many policy sectors, proponents of reform see this global both a justification and an enabler necessary Policy scholars have paid ample attention to crisis-reform thesis. Empirical research suggests that these crisis-induced change should not be too optimistic. question remains why some ...

The recent global financial crisis once again revealed the harmful effects of interest-based contracts in the conventional financial system. Islamic finance, as an alternative financial system, discourages interest rate and debt financing. This paper investigates the effects of two financial systems, namely the conventional and Islamic systems, on macroeconomic variables. To achieve this goal, ...

Key messages • The adoption of the Millennium Development Goals (MDGs) at the turn of the century represented the successful inauguration of an effort to expand the focus beyond economic growth so as to encompass human development. As a result of rapid economic expansion and improved social policies in many developing countries, the MDG target of halving extreme poverty by 2015 globally had bee...