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...

This report reveals that Central and Eastern European countries are using at least twice the energy used by the previous 15 EU member states for each unit of economic output. Along with six other non-governmental organisations, WWF, the global conservation organisation, has launched a report...

Dieses Grünbuch möchte als Katalysator wirken, um auf allen Ebenen der europäischen Gesellschaft – sei es auf EU-Gemeinschaftsebene, sei es auf einzelstaatlicher, regionaler oder kommunaler Ebene – auf eine erneuerte Energieeffizienz-Initiative hinzuwirken. ... Wettbewerbsfähigkeit und...