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the Eurozone, TARGET2 (Trans-European Automated Real-Time Gross Settlement Express Transfer). They criticize it under … Eurozone countries, thereby putting deficit countries in a prominent position in terms of money creation within the Eurozone … has thoroughly contributed to allow the Eurozone to surmount the financial and commercial imbalances that threatened to …
Persistent link: https://www.econbiz.de/10011187097
This paper presents and analyses new datasets of de jure Currency-Based Measures (CBMs) directed at banks in a sample of 49 countries between 2005 and 2013. These measures are bank regulations that apply a discrimination−e.g. a less favourable treatment−on the basis of the currency of an...
Persistent link: https://www.econbiz.de/10011582185
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Zahlungsbilanzkrise verursacht. Ein breit gefächerter Ansatz in der Wirtschaftspolitik ist daher erforderlich, um die Eurozone auf einen …
Persistent link: https://www.econbiz.de/10010362745
Advanced economies borrowed substantially during the Covid recession to fund their fiscal policy. The Covid recession differed from the Great Recession in that sovereign debt markets remained calm and spreads barely responded. We study the experience of Greece, the most extreme manifestation of...
Persistent link: https://www.econbiz.de/10014468244
This essay argues that at least some of the financial stability concerns associated with shadow banking can be addressed by an approach to financial regulation that imports its functional foundations more vigorously into the interpretation and implementation of existing rules. It shows that the...
Persistent link: https://www.econbiz.de/10010411253
Fünf Jahre nach dem Ausbruch der Finanzmarktkrise hat sich einiges getan: Die USA und die Mitgliedstaaten der Europäischen Union haben verschiedene Regulierungen auf den Weg gebracht. Die Autoren beurteilen dies allerdings unterschiedlich. Zum einen seien die Regulierungen nicht ausreichend...
Persistent link: https://www.econbiz.de/10009619490
The negative interest rate policy (NIRP) has been in place in the euro area since June 2014. While the NIRP can provide additional monetary accommodation in the situation where the neutral rate of interest is most likely negative, there are also unintended consequences for banks’ profitability...
Persistent link: https://www.econbiz.de/10012111120
Chapter 1: Introduction -- Part 1: The Regulation of Cross-Border Finance -- Chapter 2: Financial Regulation and Systemic risk -- Chapter 3: The Regulation of Globalized Finance -- Part 2: Cross-Border Regulation in the EU: The Passport and the Equivalence Regime -- Chapter 4: The Passport...
Persistent link: https://www.econbiz.de/10013185628