Az Európai Unióhoz való csatlakozás kapcsán a gazdaság területén kollektív figyelmünket túlnyomórészt azok a nehézségek kötik le, amelyek leginkább akadályozzák a felzárkózást és az EU-normáknak való megfelelést. Ilyenek bőségesen léteznek például a...

A cikk a felfaló árazás és az árprés fogalmának, közgazdasági hátterének bemutatására, valamint annak vizsgálatára vállalkozik, hogy ezekre hivatkozással milyen bírói gyakorlat alakult ki, milyen szabályozói beavatkozások történtek. A felfaló árazás és az árprés...

We investigate whether corruption “greases the wheels” of bureaucracies and enhances economic performance. Specifically, we examine the interaction effect of corruption and regulation on the economic performance of manufacturing industries in India. Our estimation results show that the...

We present an analysis of VaR forecasts and P&L-series of all 13 German banks that used internal models for regulatory purposes in the year 2001. To this end, we introduce the notion of well-behaved forecast systems. Furthermore, we provide a series of statistical tools to perform our analyses....

The paper provides a comprehensive overview of the gradual evolution of the supervisory policy adopted by the Basle Committee for the regulatory treatment of asset securitisation. We carefully highlight the pathology of the new securitisation framework to facilitate a general understanding of...

The institutional framework for the functioning of covered bonds (list zastawny - L.Z.) in Poland was established already in 1997 and first issues took place in 2000; by 2013, L.Z. accounted for a few percent of property market funding, mostly with respect to commercial property. The latest...

Liberalization of network industries frequently separates the network from the other parts of the industry. This is important in particular for the electricity industry where private firms invest into generation facilities, while net- work investments usually are controlled by regulators. We...

This paper revisits the issue of law enforcement and the design of monetary sanctions when the public law enforcer's incentives depart from those of a benevolent authority, which is the most frequent assumption made in the literature on crime deterrence. We …rst consider the case of an elected...

Can regulation solve problems arising from a natural monopoly? This paper analyzes whether “unbundling,” referring to regulations that enforce sharing of natural monopolistic infrastructure, prevents entrants from building new infrastructure. It models and estimates a dynamic entry game to...

Market in financial instruments directive tried to suppress the rigidity of EU legislative procedure with introduction of principle based legislation. At that time this approach was seen as something new and fresh. Big financial crisis in 2008 showed that adopted solution didn’t fulfil the...