We identify investor moral hazard in the German fiscal federation. Our identification strategy is based on a variable, which was used by the German Federal Constitutional Court as an indicator to determine eligibility of two German states (Länder) to a bail-out, the interest payments-to-revenue...

We identify investor moral hazard in the German fiscal federation. Our identification strategy is based on a variable, which was used by the German Federal Constitutional Court as an indicator to determine eligibility of two German states (Länder) to a bail-out, the interest payments-to-revenue...

The purpose of this article is to analyse factors that can influence on the European country's credit rating. The analysis was performed according to the level of economic development in accordance with the division proposed by the World Bank. There were applied static and dynamic panel data...

The 1953 London Debt Agreement settled Germany's debts from the period between the two world wars, and allowed the country to re-establish its role in international capital markets. The Agreement wrote-down the overall debt by about 50 percent and gave the debtors a much longer period to repay....

This article analyses three seminal cases of bondholder litigation before German municipal Courts following the Greek sovereign debt restructuring of 2012. While the haircut imposed on private bondholders led to a significant reduction of the country's debt level in 2012, thousands of German...

The article uses the angle, and it is placed under the influence of the contributions of the representatives of German classical financial economic school, from Carl Dietzel and Lorenz von Stein to Adolph Wagner, whose works, reassessed by Carl-Ludwig Holtfrerich in 2013, are comparable, through...

The 1953 London Debt Agreement settled Germany's debts from the period between the two world wars, and allowed the country to re-establish its role in international capital markets. The Agreement wrote-down the overall debt by about 50 percent and gave the debtors a much longer period to repay....