Die Ursachen der Finanzkrise werden in der wissenschaftlichen Debatte sehr unterschiedlich beschrieben. Der Autor vertritt die Auffassung, dass die Finanzkrise im Wesentlichen aus einem fundamentalen Mangel an „sicheren“ Aktiva resultiert. Schutzmechanismen für institutionelle Investoren im...

Regional disparities are pronounced and persistent. Regional data of high quality are needed to improve the understanding of the origins and consequences of regional disparities and the effectiveness of regional policies through empirical analysis. Against the background of existing problems...

We discuss the current state of the European banking system and the major challenges for the future. The low interest rate environment may give rise to asset price bubbles and interest rate risk, which should be counteracted by macroprudential regulation. Overcapacities in banking should be...