The paper addresses the issue of rethinking the welfare state as a part of a broader national system of social protection (NSSP) and a mode of societal regulation. In order to overcome the theoretical limits of bottom-up comparative analysis of welfare states, one builds a structural model of...

This article analyses the way in which different socio-political configurations have had a significant effect on the economic development of Argentina, Brasil and Mexico. The characteristics of the socio-political coalitions in the three countries are presented, and their imprints on industrial...

Over the past two decades, Germany experienced several periods of banking system instability rather than full-blown banking system crises. In this paper we introduce a continuous and forward-looking stability indicator for the banking system based on information on all financial institutions in...

This study investigates the development of income-decreasing discretionary expenses surrounding CEO turnovers at banks. We expect incoming CEOs to take an earnings bath during the initial stage of their tenure. For a sample of German banks over the period 1993-2012, we document that (1) incoming...

Section 340f of the German Commercial Code allows banks to provision against the special risks inherent to the banking business by building hidden reserves. Beyond risk provisioning, these reserves are implicitly accepted as an earnings management device. By analyzing financial statements of...