Introduction -- "Too Clubby to Fail": Wall Street Banks Win, Thrifts and Community Banks Lose -- Increased Risk Taking Due to Deregulation -- Deregulation, Politics, and Criminal Prosecutions -- The Four Major Waves of Change in the 1990s That -- Laid the Groundwork for the 2008 Financial Crisis...

Despite the great importance and final success of the convergence process that led to the establishment of the European Monetary Union, there is no clear agreement regarding the monetary policy pursued in the member countries during the convergence process. This paper contributes to the...

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...