We analyze the reaction of stock returns and CDS spreads of banks from Europe and the United States to four major regulatory reforms in the aftermath of the subprime crisis, employing an event study analysis. In contrast to the public perception that nothing has happened, we find that financial...

This article examines the spread of financialization in Germany before the financial crisis. It provides an up-to date overview on the literature on financialization and reviews which of the phenomena typically associated with financialization have emerged in Germany. In particular, the article...

Der Finanzdienstleistungssektor gehört zu den größeren Bereichen des Dienstleistungssektors in Deutschland. Über seine Bedeutung für die Beschäftigung hinaus hat er die wichtige infrastrukturelle Funktion, auf der Grundlage der von der Europäischen Zentralbank betriebenen Geldpolitik die...