Macroprudential policy in Europe aligns with the objective of limiting systemic risk, namely
the risk of widespread disruption to the provision of financial services that is caused by an …

ECB President Draghi’s Jackson Hole speech in August 2014 arguably marked a new phase
of unconventional monetary policies (UMPs) in the euro area. This paper examines the …

Wage rises have remained stubbornly low in advanced Europe in recent years, but, at the
same time, newer EU members are experiencing rapid wage acceleration. This paper …

Using a unique representative panel survey of Vietnamese enterprises in 2020, we find that
the pandemic and associated government support package had a heterogenous impact …

The crisis has highlighted the importance of setting up macro-prudential oversight frameworks,
having effective macro-prudential instruments in place to be called upon to mitigate …

The availability of financial instruments related to indices that track global financial conditions
and risk appetite can potentially offer countries alternative options to insure against …

The 2007-09 Great Recession has led to an unprecedented increase in public debt in many
countries, triggering substantial fiscal adjustments. What are the distributional …

China weathered the global financial crisis better than most, thanks to a large and timely
stimulus. This stimulus, however, was mainly in the form of off-budget infrastructure spending …

The paper uses firm-level data to assess the financial health of the Vietnamese non-financial
corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms …