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The paper outlines the developments in the EU regulatory framework for executive remuneration since 2004 and going through the financial crisis. It also presents the results of an analysis of the remuneration practices adopted by the largest European listed firms before and after the crisis,...
Persistent link: https://www.econbiz.de/10013073163
From European integration to domestic politics to the development of the global economy, technocracy and private ordering have shaped economic behaviour. Such transformative private-driven forces of economic activity flourished through the promulgation of voluntary standards. In view of the...
Persistent link: https://www.econbiz.de/10012794045
In 2021, macroprudential authorities of the European Union (EU) and European Economic Area (EEA) countries adopted emergency macroprudential policy relaxation measures to address the impact of the COVID-19 pandemic crisis. It was the first widespread and almost simultaneous use of...
Persistent link: https://www.econbiz.de/10013215599
A primary cause of the recent credit market turmoil was overdependence on credit ratings and credit rating agencies. Without such overdependence, the complex financial instruments, particularly Collateralized Debt Obligations (CDOs) and Structured Investment Vehicles (SIVs), which were at the...
Persistent link: https://www.econbiz.de/10013152324
largest in the world, also experienced a crisis in the 1980s. Twin “bubbles” in its stock and real estate markets hyper … economy. When the bubbles burst in 1990 Japan was thrust into recession. Real estate values have continued to fall – for …
Persistent link: https://www.econbiz.de/10013148983
During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of these policies on broad financial market conditions,...
Persistent link: https://www.econbiz.de/10009010671
gradual relaxation of banks' lending standards – in particular an excessive reliance on rising real estate values. We document … approaches in which banks restructure NPLs on a case-by-case basis to more centralised options, such as a “London approach”, bad … banks, or asset management companies. Centralised options may be called for if case-by-case debt restructuring is suboptimal …
Persistent link: https://www.econbiz.de/10013115309
During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of these policies on broad financial market conditions,...
Persistent link: https://www.econbiz.de/10013124947
We study the existence and economic significance of bank lending channels that affect employment in U.S. manufacturing industries. In particular, we address the question of how a dramatic worsening of firm and consumer access to bank credit, such as the one observed over the Great Recession,...
Persistent link: https://www.econbiz.de/10013073708
The coronavirus pandemic is creating overwhelming needs, in three waves. First is the health crisis; second is the macroeconomic crisis created by the abrupt halt in much business activity; and now third is a consumer crisis, as households are faced with total or partial job loss, sharp income...
Persistent link: https://www.econbiz.de/10012837811