This article addresses the issue concerning the application of Regulation (EU) 1286/2014 of the European Parliament and of the Council of 26 November 2014 “on key information documents for packaged retail and insurance based investment products (PRIIPs)” in relation to callable corporate...

Research on the economics and sociology of business networks also sheds light on the development of networks of countries. The British Commonwealth was an important global network, or group of networks, in the mid-twentieth century. Commonwealth members, including Australia and New Zealand,...

The 1955-56 macroeconomic crisis is a central event in modern Irish history. Yet, despite this centrality, its causes are not clearly understood. In 1955-6, Ireland, which had previously followed British interest rates in lockstep as part of its fixed exchange with the latter, briefly...

The 1955-56 macroeconomic crisis is a central event in modern Irish history. Yet, despite this centrality, its causes are not clearly understood. In 1955-6, Ireland, which had previously followed British interest rates in lockstep as part of its fixed exchange with the latter, briefly...

Germany prides itself in having one of the most successful central banks and currencies with respect to independence and stability. I show that not only were both imposed on the country after 1945 but that there was also initial resistance to both among German experts and officials. This is a...

In the follow-up to the 1926 financial crisis in France, a new government led by Raymond Poincaré attempted to restore monetary stability by restructuring public debt. This policy led to a sharp decrease in the outstanding amount of floating debt, which had become a standard source of funding...

We investigate whether the hypothesis of money illusion can explain the negative or non-existent stock returns and inflation co-movement, and lead to deviations from the CAPM-implied risk-return relation in ten Central Eastern European (CEE) markets. We employ the Cohen, Polk and Vuolteenaho...

Identifying market crashes can be problematic. In a stable financial environment, the same price variation in percentage will result in greater negative impact than during a highly volatile period.In order to take into account changes of volatility throughout time, a new method is proposed, one...

Sovereign governments often discriminate between creditors during debt default episodes. This paper explores how expectations of selective default affect sovereign bond trading and sovereign risk premia based on a historical laboratory: the German external default of the 1930s. We exploit a...

This paper explores how selective default expectations affect the pricing of sovereign bonds in a historical laboratory: the German default of the 1930s. We analyze yield differentials between identical government bonds traded across various creditor countries before and after bond market...