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The Japanese version of the Big Bang announced in November 1996 was a major plan to drastically reform the financial … and capital markets in Japan through significant revisions to laws such as the Securities and Exchange Law. The Japanese … of securities. Reform of the financial structure -- the goal of Big Bang -- has not made notable progress, an example …
Persistent link: https://www.econbiz.de/10009365416
The first decade of economic and monetary union in Europe (EMU) has been a huge success. EMU has significantly benefited its member countries and accelerated the European integration process. Imbalances within EMUdifferences in growth, inflation, competitiveness, current account and budget...
Persistent link: https://www.econbiz.de/10009363273
This paper reviews the capacity of colleges and universities to serve poor and vulnerable populations during past and present economic shocks. The main argument is that the environment of the global recessionan Asia far more economically integrated than during past economic shocks, with more...
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important industry groups who revised their positions, and new NGOs that promoted reform. The preferences of actors and their … changing interests are important factors in the reform process. Perceived benefits from the new regime partly explain the rise … of a pro-reform constituency among industry and NGOs. Yet preference formation is complex and depends on interpretation …
Persistent link: https://www.econbiz.de/10009365253
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We examine a model in which the utility function has been engineered so that it is optimal for consumers to aim for a fixed target level of retirement resources. In this case consumption displays excess sensitivity to current income as well as perfect old age insurance. In an overlapping...
Persistent link: https://www.econbiz.de/10009365508