Multiculturalism has taken a life of its own, swinging too far in one direction. The authors claim that the rapidly changing reality calls for a new majority-minority theory and argue that the moral justifications for cultural minority rights should also apply to majority groups. They present...

The recent banking crisis has revealed the existence of strong resiliency factors in the retail banking business model. On average, retail banks suffered less than other financial institutions from unexpected market changes. This paper proposes a new methodology to measure retail banks’...

This paper explores the extent to which interest risk exposure is priced in bank margins. Our contribution to the literature is twofold: First, we present an extended model of Ho and Saunders (1981) that explicitly captures interest rate risk and returns from maturity transformation. Banks price...