This agent-based financial market model is a generalization of the model of Westerhoff (The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies) by traders who are allowed to have different investment horizons as introduced by Demary (Who Does a Currency...

We propose a new model of chartist-fundamentalist-interaction in which both groups of traders are allowed to select endogenously between different forecasting models and different investment horizons. Stochastic interest rates in both countries and different behavioral assumptions for...

The COVID-19 pandemic has worsened the financial positions of many companies. For the next months, a wave of insolvencies, a zombification caused by rescue measures or a debt deleveraging are on the table. Which of the three scenarios will dominate, depends, however, on the efficiency of...

After the internet bubble collapsed in 2000, German households have reduced their investments in the stock market. Losses at that time were not so much caused by market volatility, but the consequence of short-term speculation. However, putting savings into the stock market can be very...

The study of non-performing loans (NPLs) is highly relevant when looking for a solution to the ongoing structural weaknesses in the Euro area banking sectors, especially in light of the planned completion of the banking union and the introduction of a European Deposit Insurance System (EDIS)....

After a period of deepening financial integration, the financial crisis triggered a fragmentation of Europe’s capital markets along national lines. Financial integration was prone to sudden stops and capital reversals because cross-border capital flows predominantly consisted of short-term...

The US-President Donald Trump has signed an executive order which directs the US Treasury department to revise financial regulation, especially the Dodd-Frank Act. Critics are afraid that this will cause inconsistencies in global regulation and weaken the EU’s financial centres. This article...

The Brexit will affect the stability of derivatives markets. These markets are huge and global, but they concentrate on the financial hub London. This article discusses post-Brexit scenarios for the financial supervision of these important markets and recommends to strengthen the supervision at...