Solvency II defines minimum capital requirements from insurance companies, due to their exposure to risk. Regulatory bodies of the Brazilian insurance market issued regulations based on a deterministic model for the calculation of risk based capital. In this study, we discuss a simple...

This paper analyses the determinants and impact of labour market reforms in the European Union over the period of 2000-2011. The source of information on reforms is the LABREF database developed in DG ECFIN of the European Commission in cooperation with the Economic Policy Committee of the...

The purpose of this paper is to analyze the various challenges facing European integration and the EU institutional architecture as result of the global financial crisis. The European integration process is not yet complete, both in terms of its content and geographical coverage. It can be...

Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....

In the United States and the European Union (EU), political incentives to oppose cross-border banking have been strong in spite of the measurable benefits to the real economy from breaking down geographic barriers. Even a federal-level supervisor and safety net are not by themselves sufficient...

This paper examines the impact of financial risks on economic growth in the first 15 Member States of the European Union, considering 1995-2014 period and aims to lay down a new explanatory model of economic growth, based mainly on the behavioral reactivity of the financial disruptions mentioned...

The common currency was created as a result of theoretical considerations regarding the functioning of optimum currency areas. This theory refers to a number of benefits as well as costs. It imposes a number of requirements that are necessary for the newly created structure to be considered...

The present paper aims to analyze the impact the economic crisis bursted out in the United States at the end of 2007 and quasi spreaded all over the world had on the (re) orientation of trade flows (exports) among European Union member states in general, and Romania in particular. As observation...

Europe's financial landscape has substantial institutional variety. This reflects different societal responses to (or preferences with regard to) trade-offs. For monetary policy, it implies a challenging environment, particularly in times of financial crises. Using anon-linear VAR-model we...

Since revelations of the Greek fiscal deficit in the fall of 2009, the breakup of the Economic and Monetary Union (EMU) has moved from unthinkable to plausible. The debate over the future of the EMU has become increasingly relevant, as numerous efforts to solve the Greek crisis have not been...