The Brussels Effect, once emblematic of the EU's alleged influence in shaping global regulations, has now become a factor contributing to global regulatory fragmentation. The EU must recalibrate its trajectory towards a liberal and rules-based trading order, prioritizing widespread regulatory...

Based on a literature review, this paper investigates the reasons why broad money demand has usually been found to be more stable in the euro area than in other large economies. The paper concludes that there are three main explanations for this fact. First, in some countries outside the euro...

Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...

This paper analyzes cooperation between sovereign national authorities in the supervision and regulation of a multinational bank. We take a political economy approach to regulation and assume that supervisors maximize the welfare of their own country. The communication between the supervisors is...

Die Weltwirtschaft expandiert derzeit in moderatem Tempo, wobei die Dynamik in den einzelnen Regionen recht unterschiedlich ist. Während die Konjunktur in den Vereinigten Staaten bis zuletzt kräftig war, befindet sich die Wirtschaft im Euroraum in einer Phase der Stagnation; im Vereinigten...