This thesis was written by Nadjeschda Katharina Arnold while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2014 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in...

This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that applying insurance theory is useful. We model risk neutral agents choosing portfolios of government bonds of n countries in a monetary union and other assets. We firstly analyse a...

This thesis was written by Nadjeschda Katharina Arnold while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2014 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in...

This thesis was written by Nadjeschda Katharina Arnold while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2014 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in...