The most fundamental form of systemic risk in modern financial networks is contagion. In this article we describe a homogeneous banking system (banks with identical preferences and the same size of total assets) with interconnectedness: banks own shares in each others' assets. Using these...

In this paper we investigate the relationship between sustainability and economic growth starting from Stern (2006) which is the first comprehensive analysis of the global warming from economic point of view. We also discuss the critical debate of this study which was focused mainly on the...

The most fundamental form of systemic risk in modern financial networks is contagion. In this article we describe a homogeneous banking system (banks with identical preferences and the same size of total assets) with interconnectedness: banks own shares in each others' assets. Using these...

In this paper we investigate the relationship between sustainability and economic growth starting from Stern (2006) which is the first comprehensive analysis of the global warming from economic point of view. We also discuss the critical debate of this study which was focused mainly on the...

In the last decade the ownership structure of Australia's life insurance industry has undergone a fundamental change. Traditionally, the sector had been dominated by a group of large mutual associations which had historically been the market leaders. In the space of less than a decade, this form...

A gazdasági szereplõk nem-racionális magatartására vonatkozó gazdasági viselkedéstani kutatási eredmények értelmezése és a megfelelõ következtetések megfogalmazása kellõ körültekintést igényel: a neoklasszikus elmélet életszerûtlen emberképének meghaladása nem...

This case study is a part of the research project "The Unexpected consequences and impacts of the regulation of markets" which is financed by the Hungarian Scientific Research Fund. It deals with the conditions and impacts of the implementation of the Law CXXIV (2012) which radically changed the...

This case study is a part of the research project "The Unexpected consequences and impacts of the regulation of markets" which is financed by the Hungarian Scientific Research Fund. It deals with the conditions and impacts of the implementation of the Law CXXIV (2012) which radically changed the...

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...