Very low policy rates as well as the substantial redesign of rules and supervisory institutions have changed background conditions for the Euro Area's financial intermediary sector substantially. Both policy initiatives have been targeted at improving societal welfare. And their potential side...

What factors and developments have fuelled the "cartelisation" of capital markets? - to the extent of the rigging of EURIBOR and LIBOR rates? In what ways can EURIBOR and LIBOR rate rigging practices be addressed?How and why have offshore markets expanded to the degree and extent to which they...

This paper empirically examines the pass-through of the Central Bank of Nigeria policy rate to commercial banks' retail rates. The study covers the pre-liberalization (1962M01-1987M07) and post-liberalization (1987M08-2020M09) periods, and em- plys asymmetric cointegration and error-correction...

Opening the capital account allows financially-constrained firms to raise capital from abroad. Since capital and skilled labor are relative complements, this increases the relative demand for skilled labor versus unskilled labor, leading to higher wage inequality. Using aggregate data and...