The goal of this paper is to discuss the issues of ethics, moral hazard and behavior in banking regulation of the global financial system. The paper is focused on the specific characteristics of ethical banks, compared with those of traditional ones, and provides a picture of the extent of this...

This study is motivated by the development of credit-related instruments and signals of stock price movements of large banks during the recent financial crisis. What is common to most of the empirical studies in this field is that they concentrate on modeling the conditional mean. However,...

It is our duty to insist, by repetition, on some aspects linked with possible exit from the present crisis, observing that the general approach has had the temptation to derail from the well known and very simple rules imposed either by theory or practice in connection with the business cycle...

Micro data collected in the OeNB Euro Survey show that in the aftermath of the global economic and financial crisis, households have come to perceive foreign currency loans as riskier, above all in those Central, Eastern and Southeastern European (CESEE) countries that experienced depreciations...

In this paper, we present systematic regional and cross-country information about the refinancing structure of the banking sector in selected Central, Eastern and Southeastern European (CESEE) countries. We use the most recent data available (from mid-2008 until end-2009) to focus on the...

This paper tests for the transmission of the 2007-2010 financial and sovereign debt crises to fifteen EMU countries. We use daily data from 2003 to 2010 on country financial and non-financial stock market indexes. First, we find strong evidence of crisis transmission to European non-financials...

The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, ending into deleveraging and credit crunch when the bubble burst....

In developed economies financial crises from 2007 have had significant influence on macro economy and bank’s profitability and stability across national economies. Like in other banking systems in Croatia in last few decades’ banks become larger and complex and had developed their business...

This paper analyzes developments in the Japan premium in three markets - the dollar market, the yen market, and the dollar/yen swap market - in the autumn of both 1997 and 1998, when concern increased with respect to the creditworthiness of Japanese banks. Among the three Japan premiums, the...

Export Credit Agencies (ECAs) played an important role in cushioning the downturn in cross border trade to emerging market economies during the economic and financial crisis that started in the fall 2008. In addition to facilitating trade during times of crisis, ECAs can also help companies in...