Solvency II defines minimum capital requirements from insurance companies, due to their exposure to risk. Regulatory bodies of the Brazilian insurance market issued regulations based on a deterministic model for the calculation of risk based capital. In this study, we discuss a simple...

I analyze the optimal design of banking supervision in the presence of cross-border lending. Cross-border lending could imply that an individual bank failure in one country could trigger negative spillover effects in another country. Such cross-border contagion effects could turn out to be...

The objective of the article is to investigate the effects of the stage of integration on convergence in the European Union. The relationships between the selected macroeconomic variables and per capita GDP growth rate are econometrically tested for the period 2004-2018 and three sub-periods:...

This paper models the links between financial fragility, asset markets and monetary policy. It is shown, that central bank's concern about the cost of financial disruption generates an asymmetric response, thus contributing to the creation of an asset price bubble in an economy with a highly...