Work

A financial anomaly

Year: 2025

Type: article

Abstract: A new measure denominated ‘Financial Anomaly Index’ (FAI) is proposed, showing the anomalies of recent past years in the financial sector mainly due to unconventional monetary policies. The present paper provides evidence that, when applying the proposed index, there is a negative association between FAI and inflation in the short run. The null hypothesis that no variable Granger-causes the other is rejected. Different techniques are used, including a recent panel data test. A robustness check using a System Generalized Method of Moments (GMM) is provided with a sample of 216 countries for 1960-2021.

Source: Borsa Istanbul Review

DOI: 10.1016/j.bir.2025.10.024

Author: Guillermo Peña

Institution: Universidad de Zaragoza

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $1,500

Funders: Ministerio de Ciencia, Innovación y Universidades, Gobierno de Aragón