In this note we demonstrate that in affine models for bilateral exchange rates, the nature of return interdependence during crises depends on the tail properties of the fundamentals' distributions. We denote crisis linkages as either strong or weak, in the sense that the dependence remains or...

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...

The Foundation project u0091Attractive workplace for all: A contribution to the Lisbon Strategy at company levelu0092 aims at identifying pioneer company practices, policies and agreements and showing how the Lisbon strategy is being implemented on the ground at company level. Examples of...

The Foundation project u0091Attractive workplace for all: A contribution to the Lisbon Strategy at company levelu0092 aims at identifying pioneer company practices, policies and agreements and showing how the Lisbon strategy is being implemented on the ground at company level. Examples of...