We employ a recursive econometric technique to identify and date multiple financial bubbles in five countries, the US, UK, France, Germany, and Japan. We identify multiple bubbles in each country except Germany for the period, 1973-March 2018. These bubbles are classified into three groups, each...

During the financial crisis of 2008, the market value of retirement assets held in stock fell by 32 percent. The objective of this study is to show how a severe financial crisis affects the withdrawal patterns of retirees. Specifically, we examine how withdrawal patterns change when we...

Financial regulation is evolving, as policymakers seek to strengthen the financial system in order to make it more robust and resilient. Changes in the regulatory environment are likely to have an impact on financial system structure and on the behaviour of financial intermediaries that central...