L'article analyse la coopération monétaire en Europe comme une coalition (au sens de la théorie des jeux) au sein de l'économie mondiale. Le modèle de Canzoneri et Henderson sert de point de départ ; il est enrichi, notamment par la prise en compte d'une fonction de création de la monnaie...

The paper investigates the links between the European Monetary Integration and the ongoing specificities and partial autonomy of industrial relations, labour markets and labour regimes at the national level. This is a follow up of John Hicks (1955) paper arguing that the Thirties experienced the...

Money remitted by international migrants is a major source of income for many countries around the world, exceeding all international development funds combined. Yet individual migrants and their families are often amongst the most vulnerable people in society, and many face significant barriers...

This paper investigates policyholder protection schemes in OECD member countries and selected non-OECD countries. It is selective in its scope: it examines the rationale for a policyholder protection scheme; the relationship between certain design features and moral hazard; the role of a...

Financial inclusion is an international policy priority and demand-side initiatives including financial education have an important role to play in helping individuals to access and use appropriate, formal financial products. In 2010, under the support of the Russian Trust Fund for Financial...

The present paper develops a two-period, simple model of inter- bank competition based on the idea that banks can partially control the behaviour of borrowers. The control effort by one bank over its customers is not observable by competitor banks. It is shown that the equilibrium behaviour of...

This working paper’s quantifications show that most sovereign debt is held on the banking books of banks, whereas the EU stress test considered only their small trading book exposures. It discusses why sovereign debt held in the banking book cannot be ignored by investors and creditors,...