Post-War conceptions of human rights have evolved independently of long-established theory and practice of property and creditor rights, to the detriment of the development and implementation of human rights law. This chapter attempts to build a first bridge between these two fields of law. It...

Despite the governments took rescue and/or stimulus packages, signs of recovery occurring in 2009 and 2010, the global growth sustainability seems uncertain. Romania was hit hard by the crisis, suffering a severe contraction of the economy, estimated at 7.1 percent in 2009. The worsening of the...

1. the real economy does not grow exponentially in mature economies, but only approximately linearly. The reasons for this are: - the increasing saturation tendency of demand because of increasingly fulfilled basic needs and increasing inequality of distribution, - declining rates of investment...

Following the financial crisis effects, the issue of debt sustainability became of global importance, even for international security reasons. In the EU, despite post-crisis fiscal austerity measures aimed at rebalancing the public finances, the debt-to-GDP ratio continued to deteriorate. At...

What type of crisis is generated when debt increases? We study the Spanish debt evolution in the 19th and 20th centuries by introducing currency and stock-market crises in the Reinhart and Rogoff (2011) framework. We find their same results for the determinants of banking and debt crises but...

It is shown in a standard quantitative model of sovereign debt and default that sentiment shocks can alter the distribution of fundamental defaults. The channel through which this occurs is a new type of dynamic lender coordination problem in sovereign debt markets that I call a dynamic panic....

In September 1985, Brazil enacted a new Cheques Act. It is based on the Uniform Law on Cheques, pursuant to the Geneva conventions of 1930-31. This codification is of practical interest for commercial and financial transactions with Brazil since it puts an end to a period of uncertainty as to...

The article descibes the process leading to the draft of the Model Law as discussed in 1991. The text of the draft is reproduced as Annex. The Model Law is designed to produce a comprehensive body of rules to govern relations between parties to funds transfer transactions.

The aim of this article is to verify whether the creation of safe assets (sovereign bond-backed securities, SBBS) proposed in 2012 by the so-called group of ‘euro-nomics’ is a way to promote financial safety and risk-sharing in the EMU. In particular, attention is given to the shortcomings...

The modern economic theory implemented today is inherently flawed. Unfortunately these flaws are not apparent in contemporary economic theory which is built on the idea that scarcity is an ever present condition; an approach referred to as scarce resource theory (SRT) in operating level...