We analyse the potentially vulnerable and systemically relevant financial intermediation chain established by hedge funds and prime brokers. Our dataset covers the 306 largest global hedge funds and their prime brokers over the period July 2001 to December 2011. The study illustrates that hedge...

The hedge fund industry has risen in 2007 to the top of the international political agenda, yet the debate surrounding it is limited by a lack of understanding of how the industry functions, or even how it is to be defined. The industry consists largely of investment funds operating from...

In 2007, 5.6 million persons were employed in EU27 financial services. 65% of these worked in banks, 20% in the insurance industry and 15% for intermediaries. The sector represented 2.7% of total employment in Europe. Between 2000 and 2006, data from the Labour Force Survey shows a shift of...

This report focuses on how Dexia Bank Belgium has responded to the considerable challenges resulting from the financial and economic crisis, and how the transformation of its workforce has been managed under these circumstances. It specifically emphasises the role of the social partner...

Four years after the introduction of the euro, this paper provides an overview of the current structure and integration of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure with that of the United States and Japan. Using new and...

The Czech financial sector has changed dramatically since transition. In fifteen years, it has developed from a state-owned mono-bank into a privatised bank-based financial system with developing capital and private equity markets. This country focus analyses the development of the financial...

This article addresses the relationship between the real economy and the financial sector, asking the question: to what extent does the crisis in the financial sector cast a shadow on economic activity? Various potential linkages are investigated, for example the impact of credit restrictions on...