Includes index.

What explains house price booms? History and empirical evidence / Michael D. Bordo, John Landon-Lane -- Economic growth and inequality : evidence from the young democracies of South America / Manoel Bittencourt -- Operational currency exposure and firm level performance : evidence from India / Anubha Dhasmana -- Exchange rates, fundamentals, and nonlinearities : a review and some further evidence from a century of data / Panayiotis F. Diamandis, Anastassios A. Drakos, Georgios P. Kouretas -- A dynamic gravity model for global bilateral investment holdings / Konstantinos Drakos, Ekaterini Kyriazidou, Ioannis Polycarpou -- Does China's international competitiveness fluctuate in consistency with PPP equilibrium? / Nikolaos Giannellis, Georgios P. Kouretas -- Linkages between the Eurozone and the South-Eastern European countries : a VECMX* analysis / Minoas Koukouritakis, Athanasios P. Papadopoulos, Andreas Yannopoulos -- Predicting economic activity with financial market data in a small open economy : revisiting stylized facts during economic turbulence / Petri Kuosmanen, Juuso Vataja -- What drives the bank-firm relationship? A case study of the Polish credit market / Malgorzata Pawlowska, Krzysztof Gajewski, Wojciech Rogowski.

This volume contains new important research on banking institutions and performance in transition economies, economic growth and inequality and exchange rate economics and international finance. Topics include exchange rate exposure of firms, the relationship between monetary policy and house price shocks, economic interdependence of south-eastern European countries, Chinas exchange rate policy and economic growth, inequality and financial sector. Among the questions answered are : is exchange rate volatility a significant determinant of average firm level exposure? Can we identify shocks that can be interpreted as loose monetary shocks, low inflation shocks, banks credit shocks and house price shocks? What are the main factors driving the relationship between banks and companies in transition economies? Does it matter for forecasting GDP growth whether the economy is in tranquil times or during a period of turbulence? Has economic growth played any role in reducing inequality in South Africa? Are global bilateral investment holdings characterized by strong persistence? And finally, is China's international competitiveness fluctuates in consistency with PPP equilibrium?

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