"Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with...

Was the European Union ever a liberal dream? How did the common market impact the liberalization in its member states? Has the EU fostered more or less economic freedom in the Old Continent? This book explores the intellectual and political genesis of the European Union, focusing especially on...

1. Introduction -- 2. Some Introductory Thoughts -- Part I. The European “Postwar Consensus” and the European Project -- 3. The Origins of the Idea of European Integration: A German Perspective -- 4. The European “Postwar Consensus” and the Birth of the EEC -- 5 “Large Switzerland”...

Clan concept has been introduced in multiparticle dynamics in order to interpret the wide occurrence of negative binomial (NB) regularity in n-charged particle multiplicity distributions (MDs) in various high energy collisions.

This paper estimates simultaneously dynamic equations for the Deutsche Mark/Dollar exchange rate and the German wholesale price index, which emerge from a model in which German prices are sticky. This stickiness is due to price adjustment costs which take the form posited by Rotemberg(1982).The...

[eng] It is common wisdom that necessary conditions for economic performance are institutions that help the efficient production and distribution of goods and services. This rule applies also in financial sector. The authors surveyed the available evidence on the efficiency of judicial...

This stimulating and original Handbook offers an updated and systematic discussion of the relationship between central banks, financial regulation and supervision after the global financial crisis.