167899 20260122111948.0 doi 10.1016/j.bir.2025.10.024 sideral 147594 ART-2025-147594 eng Peña, Guillermo Universidad de Zaragoza (orcid)0000-0002-8816-5816 A financial anomaly 2025 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 Access copy available to the general public Unrestricted info:eu-repo/grantAgreement/ES/DGA/S23-20R info:eu-repo/grantAgreement/ES/DGA/S39-23R info:eu-repo/grantAgreement/ES/MCIU/PID2024-157255NB-I00 info:eu-repo/grantAgreement/ES/UZ/JIUZ2022-CSJ-19 info:eu-repo/semantics/openAccess by https://creativecommons.org/licenses/by/4.0/deed.es info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 4000 415 Universidad de Zaragoza Dpto. Análisis Económico Área Fund. Análisis Económico (2025), 100751 [28 pp.] Borsa Istanbul Review 2214-8450 13988957 http://zaguan.unizar.es/record/167899/files/texto_completo.pdf Versión publicada 2413380 http://zaguan.unizar.es/record/167899/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:167899 articulos driver 2026-01-22-10:27:03 ARTICLE