This paper reviews the theoretical literature at the intersection of macroeconomics and finance to draw lessons on the connection between vulnerabilities in the financial system and the macroeconomy, and on how monetary policy affects that connection. This literature finds that financial...

This paper reviews literature on the empirical relationship between vulnerabilities in the financial system and the macroeconomy, and how monetary policy affects that connection. Financial vulnerabilities build up over time, with both risk appetite and risk taking rising during economic...

Loan funds are open-end mutual funds holding predominantly corporate leveraged loans. We document empirically that loan funds are significantly more susceptible to run risk than any other category of debt funds, including corporate bond funds. Most importantly, we establish a link between loan...

Introduction -- Part I -- Historical Perspectives on Money, Financial Institutions and Markets -- What Gives Money Its Value? -- From Gold to Paper -- What is Driving the Financial World Today? -- Part II Banking: Asset & Liability Management; Banking Supervision & Regulation -- How Are Banks...

Allein in den ersten drei Wochen nach dem Mauerfall zahlte die Bundesrepublik an 16,4 Millionen DDR-Bürger jeweils 100 Mark Begrüßungsgeld aus. Was hätte aus diesem Einsatz in der seither vergangenen Zeit bei geschickter oder weniger geschickter Anlagetaktik werden können? Die politischen...

Iceland became one of the symbols of the global financial crisis. It provides an ideal test case for the perceptions of economists, in particular their ability to anticipate crises. The book contains papers and reports, written prior to the collapse of Iceland's financial system, about the...

This volume focuses on current issues of debate in the area of modern macroeconomics and money, written from (a broadly interpreted) post Keynesian perspective. The papers connect with Philip Arestis' contributions to macroeconomics and money, and pay tribute to his distinguished career

Globalization and the financial crisis highlight the problems caused by worldwide banking organizations and force financial groups to reassess their development strategies. This book discusses the impact of the crisis on the consolidation process in the European financial industry and the need...

This book presents an in-depth appreciation of key topics related to the behaviour of financial institutions in the crisis and stresses areas of major research interest. It covers a selection of papers specialising ranging from the analysis of bank and stock market performance in the crisis, to...