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Payment scale economies affect banking costs, competition in payment services, and pricing. Our scale measure relates operating cost to physical measures of European banking "output", finding large economies. This differs from relating total cost to the value of balance sheet assets (the...
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seems as if there is an alternative. But what? The Eurozone is in a deep and prolonged crisis. It is now clear that monetary …The deepening crisis of the European Monetary Union -- The theoretical rationale of a monetary union -- Germany as the … source of the Eurozone crisis -- The stock-flow quandry of the EMU -- European and global inability to deal with external …
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Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour … beginning of the century. Germany is an exception. A large increase in the prices of buildings, structures and lands for private … additional dividends. The yearly charge counts for at least 4% of their value added. -- Eurozone ; competitiveness ; non …
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The answer to competition from emerging countries with low wage costs must be very different according to the affected sector. We need to draw a distinction between manufacturing industry and services that can be relocated and other sectors: consumer services, retail, construction, most business...
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