This paper surveys the theoretical and empirical literature on the macroeconomic
implications of financial imperfections. It focuses on two major channels through which …

The Great Financial Crisis (GFC) of 2007–09 confirmed the vital importance of advancing
our understanding of macrofinancial linkages. The GFC was a bitter reminder of how sharp …

This paper proposes LASSO estimation specific for panel vector autoregressive (PVAR)
models. The penalty term allows for shrinkage for different lags, for shrinkage towards …

Abstract The 2007/08 Global Financial Crisis has re-stimulated interest in modeling
structural changes and fat tail events. In this paper, we investigate whether incorporating …

The paper develops a computational method to deal with some open issues related to
Bayesian model averaging for multiple linear models: overfitting, model uncertainty …

We model structural time-varying macro-financial linkages between the US and euro area
using a large dataset for each region. We extract both real and financial cycles and identify …

The literature extensively examines the impact of US monetary policy on global financial
cycle; however, it does not show whether specific cross-country financial cycles exist or …

This paper aims to investigate the effects of environmental sources and health statistics on
economic growth and other development indicators of interest. With population growth …

This paper provides an overview of a time-varying Structural Panel Bayesian Vector
Autoregression model that deals with model misspecification and unobserved heterogeneity …

This paper offers a solution to the international co-movement puzzle found in open-economy
macroeconomic models. We develop a small open economy (SOE) dynamic stochastic …