Bestands-Strom-Beziehungen von Geld und Verschuldung: Was kann aus dem Zusammenbruch vergangener empirischer Beziehungen in den Vereinigten Staaten gelernt werden? Wegen der in der Vergangenheit offenbar stabilen Umlaufgeschwindigkeitsrelationen machten namhafte Wirtschaftswissenschaftler zu...

Ist der Rückkauf von Auslandsschulden zu sehr in Mißkredit geraten? Hochverschuldeten Entwicklungsländern, die in den 80er Jahren den Zugang zu privaten internationalen Finanzquellen verloren hatten, ist auf unterschiedliche Weise Schuldenerlaß gewährt worden, wobei auch ein Rückkauf ihrer...

When countries, and macroeconomic models, open up to international capital markets, the welfare gains available through completion of financial markets for contingencies potentially are much greater than those available from access to noncontingent international borrowing. Intercasual insurance,...

CEE countries such as Poland started to experience a very high rate of financial development within a few years after emerging from socialism. A review of the literature suggests that this asymmetric development should have been most beneficial for those industry sectors most dependent on...

Rajan and Zingales (1998) use U.S. Compustat firm data for the 1980s to obtain measures of manufacturing sectors? Dependence on External Finance (DEF). They take any differences in these measures to be structural/technological and thus applicable to other countries. Their joint assumptions about...

This study examines the promise of reducing expected resolution costs of financial institutions through either voluntary or mandated addition of contingently convertible debt securities to their long-term financing mix. I model the stochastic process by which an initially very well capitalized...

International Financial Services: Location Preferences and Economies Advanced and rapidly developing countries vie to bring International Financial Services (IFS) industries to some of their major cities or to keep them there. The ICT revolution has made those IFS that can be commoditized...

Pareto-optimale Privatisierung zur Gewinnung politischer Unterstützung Die Ereignisse in Osteuropa, die im Herbst 1989 einen Höhepunkt erreichten, haben die Suche nach Privatisierungsverfahren ausgelöst, welche die Umwandlung von Staatswirtschaft in Marktwirtschaft beschleunigen und positive...

1) The Adoption of the Euro by New Member States: Challenges and Vulnerabilities by Michael C. Bonello 2) The Economics of Offshore Financial Services and the Choice of Tax, Currency, and Exchange-Rate Regimes by George M. von Furstenberg 3) Promoting Integration of European Retail Payment...