This paper investigates dynamic currency hedging benefits, with a further focus on the impact of currency hedging before and during the recent financial crises originated from the subprime and the Euro sovereign bonds. We take the point of view of a Euro-based institutional investor who...

Against the background of governments' consolidation strategies, ETUI researcher Vera Glassner provides an overview of recent developments in terms of pay, employment and reforms of the pay system in the public sector. Cuts and freezes of public sector wages were most frequently imposed...

In den letzten zwanzig Jahren hat die Bedeutung internationaler Vergleiche für die Bewertung der Arbeitsmarkt- und Sozialpolitik deutlich zugenommen. Weniger eindeutig ist jedoch die Frage zu beantworten, ob und unter welchen Bedingungen von ausländischen Erfahrungen für die Gestaltung von...

In this paper we discuss a number of challenges for structural macroeconomic models in the light of the Great Recession and its aftermath. It shows that a benchmark DSGE model that shares many features with models currently used by central banks and large international institutions has...

The recent financial crisis saw the rise of a multitude of concerns relating to the inadequacies of the United Kingdoms' insolvency and regulatory framework in dealing with the failing of major financial deposit-taking institutions such as Northern Rock and HBOS. This included the system of...

Post the collapse of Northern Rock, the failings and inadequacies of the prevalent legislative framework, governing the insolvency of banks were apparent. Mervyn King, when addressing the House of Commons highlighted that “Banks are not like other companies,” assigning to them a special...