Socially irresponsible behaviour by financial institutions played a major part in causing the financial crisis, which has developed into a serious economic, social and political crisis. Financial innovation and a general lack of transparency in the system have made it hard for the people of...

Im Jahre 2008 führte die Beratende Kommission für den industriellen Wandel (CCMI)des EWSA eine Reihe von Seminaren durch, um Informationen über die wichtigstenMeilensteine der Veränderungen der Grundzüge der Wirtschaft in den Ländern MittelundOsteuropas zusammenzutragen. Das Ziel bestand...

MAN was the first German company to create a SE, by the conversion of its subsidiary MAN B&W Diesel into MAN Diesel SE in August 2006. This was followed in 2009 by the conversion of MAN itself into MAN SE. Both management and the employee representatives were well prepared for negotiating an...

This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...