This paper analyses the concept of Rational Expectations Equilibrium in a simple dynamic model of assets price determination and the important implications for the relative concept of informational efficiency.

This paper investigates the potential impact of the growing influence of the opinions of credit rating agencies (CRAs) on market dynamics. This impact can be seen as a consequence of the information content of the ratings themselves or indirectly as a consequence of the "hardwiring" of ratings...

This paper analyses the concept of Rational Expectations Equilibrium in a simple dynamic model of assets price determination and the important implications for the relative concept of informational efficiency.

This work presents an original proposal for the reform of the Eurozone architecture according to an approach based on risk sharing (aiming to reach in the long-term the mutualization of public debt). The proposal envisages a new role for the European Stability Mechanism (ESM) which should...