Financial Markets and Monetary and Financial Conditions

Financial markets and systems play a key role in resource allocation. Recent work has studied how legal and regulatory framework conditions for financial systems support innovation and investment and thus growth. Other work is studying financial market integration in the euro area.
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The macroeconomic consequences of banking crises in OECD countries

09-Mar-2009

This paper examines the characteristics of downturns and subsequent recoveries following past banking crises in OECD countries as well as evidence of any effects on potential output growth. It is differentiated from previous analyses because it makes use of OECD measures of the output gap and potential output.

Quantifying the effect of financial conditions in the Euro Area, Japan, United Kingdom and United States

06-Mar-2009

This paper constructs a broad measure of financial conditions for the United States, Japan, the Euro Area and the United Kingdom, by extending monetary condition indices which are traditionally used to gauge the impact of monetary policy on the economy.

Euro area needs more integrated financial market supervision, says OECD’s Gurría

14-Jan-2009

OECD Secretary-General Angel Gurría has called for a more centralised and integrated supervision of Euro area banks and financial markets to help prevent a recurrence of the financial turmoil which triggered the current recession.

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