Der aktuell diskutierte Gesetzentwurf für eine Reform der Einlagensicherung in Weißrussland verfolgt das Hauptziel, mehr Sparmittel der Bevölkerung für das planwirtschaftliche Wirtschaftssystem verfügbar zu machen. Bei einer nicht passgenau auf die Landessituation abgestimmten Ausgestaltung...

The world for financial institutions has changed during the last 20 years, and become riskier and more competitive-driven. After the deregulation of the financial market, banks had to take on extensive risk in order to earn sufficient returns. Interest rate volatility has increased dramatically...

This paper considers the case for mortgage covered bonds as an alternative to the originate-to-distribute mortgage funding model. It argues that the economic incentives provided to market participants under the covered bonds model are less susceptible to moral hazard even while retaining the key...

A broad overview, from the Indian perspective, of the factors underlying the credit market crisis in the west, the implications of the crisis for the financial sector, lessons learnt from it, the various suggestions made at different fora for pre-empting the recurrence of such events, the Indian...

Given the assumption that the components of a vector time series are stationary about nonlinear deterministic time trends, nonlinear co-trending is the phenomenon that one or more linear combinations of the time series are stationary about a linear trend, hence the series have common nonlinear...

Measurement of productivity in the service sector has always represented a challenge for economists. "Productivity in the U.S. Services Sector: New Sources of Economic Growth", by Jack Triplett and Barry Bosworth from the Brookings Institution is reviewed. The authors have produced a textbook on...

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...