We examine the impact of IFRS reporting flexibility on the presentation of income statements after the adoption of IFRS and whether this affects analysts' forecasts. We find that 44.7 percent (42.02 percent) of first-time IFRS adopters exhibit an average marginal increase (decrease) of 2,584...

How does policy affect innovation and the digital economy? We revisit how standard product market regulation affects innovation and develop a novel framework for thinking about digital regulation. Using new establishment-level micro-data across 12 countries between 1998 and 2012, this paper...

The issue of energy security is being reviewed from a standpoint of geopolitics. The contention is that geopolitics is inescapably related to the question of energy security for a simple reason: the contradiction between the universal character of energy demand and the nation-state’s exclusive...

According to a dominant narrative, the recent crisis has allegedly shown that EMU is not sustainable without fiscal risk sharing. We identify two major hazards associated with this view. First, trust in EMU governance could unduly erode despite major recent achievements, notably if further...

The European market has been served by regulated and licensed e-money tokens (EMTs) since 2019, contradicting the claim that legal clarity is needed for EMTs. Despite the well-functioning e-money legislation, the EU Parliament will vote on a new regulation specifically for EMTs as part of the...

The aim of this paper is to present and briefly analyse the provisions of the recent (24 May 2018) European Commission's proposal for a Regulation of the European Parliament and the Council, whose objective is to lay down a general framework for sovereign bond-backed securities (SBBSs). It is...