This paper considers the primary challenges faced by the Eurozone and caused by the 2008+ crisis. It suggests that one should distinguish among institutional, conceptual (model/paradigm) and real economic challenges. As a factor that influences progress in other areas, the latter topic is a...

This paper examines the manner by which transactions costs in financial markets, broadly defined, not only derive from the regulatory-institutional framework, but in turn affect the development of this framework. We develop a simple model of policymaking with common agency that embeds endogenous...