Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...

This essay aims to explain the nature of monetary and fiscal policy interactions and how those interactions could inform the fiscal rules that countries choose to follow. It makes two points: (1) monetary policy control of inflation requires appropriate fiscal backing; (2) European fiscal...

In this paper we provide empirical measures of central bank credibility and augment these with historical narratives from eleven countries. To the extent we are able to apply reliable institutional information we can also indirectly assess their role in influencing the credibility of the...

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify incentive pay in the critical banking segments of treasury/capital market management and investment banking for 66 banks. We document an economically significant correlation of...

Geschäftsvorgänge werden zunehmend elektronisch abgewickelt. Electronic Commerce, Internet Banking und Global Supply Chain Management sind nur Beispiele dafür, in welcher atemberaubenden Geschwindigkeit sich Wirtschaft und Gesellschaft durch den Einsatz von Informationssystemen verändern....

Organisationstheoretische Untersuchung strategischer Unternehmensnetzwerke -- Strategische Unternehmensnetzwerke und ihre Bedeutung in Theorie und Praxis -- Marketingtheoretische Untersuchung strategischer Unternehmensnetzwerke -- Marketing-Konzeption des strategischen Unternehmensnetzwerks --...

Statistische Eigenschaften von Handelsvolumina auf Aktienmärkten -- Theoretische Analysen zur Rolle des Handelsvolumens auf Aktienmärkten -- Kontemporärer Zusammenhang zwischen Aktienrenditen und Handelsvolumina -- Ereignisinduzierte Marktreaktionen: Preis- und Volumenseffekte am Beispiel von...