We consider an environment where the general equilibrium assumption that every agent buys and sells simultaneously is relaxed. We show that fiat money can implement a Pareto optimal allocation only if taxes are type-specific. We then consider intermediated money by assuming that financial...

This study is an exploratory analysis of the economic role of banks under different prudential frameworks. It considers an agent-based computational model populated by consumers, firms, banks, and a central bank whose out-of-equilibrium interactions replicate the conjunct dynamics of a banking...

The paper examined the mediating role of social networks in the relationship between financial intermediation and financial inclusion of poor households in rural Uganda. The paper used SPSS (statistical package for social scientist) and applied MedGraph program (Excel version 13), Sobel test,...

In this paper we analyze the evolution of the Romanian banking system after the 2007 financial crisis and the country's accession to the European Union. The first part analyzes the main elements of the banking system: ownership structure, number of employees and banking units, loans and...

From the economists' perspective, the Capital Markets Union (CMU) represents a policy experiment that allows studying how legal conditions, economic incentives and financial activity interact. Recent papers provide economic support for the overall objective of CMU, but the robustness of this...

Using several different datasets obtained from the German Central Bank (Deutsche Bundesbank) and the German Federal Statistical Office, we provide empirical evidence that savings and loan contracts (SLCs) are a macrosocial phenomenon that smooths housing demand by setting countercyclical...

Following the financial crisis of 2008/09, the Basel Committee on Banking Supervision introduced a new framework for banking regulation, commonly known as Basel III. For the first time since the inception of global banking regulation in 1988, Basel III contains explicit mandatory rules for...

Nach der Finanzkrise von 2008/2009 erließ der Basler Ausschuss für Bankenaufsicht einen neuen Vorschriftenkatalog zur Bankenregulierung (Basel III). Erstmals seit der Einführung internationaler Standards zur Bankenregulierung im Jahr 1988 werden darin verbindliche Vorgaben zur...

The offerings of financial products to investors have evolved considerably over the last decades. This study was undertaken to understand the importance of financial products in Portugal for banks and private clients. Different financial products can provide to banks an important role on their...

In the wake of dissenting views on the import of the implementation of the Treasury Single Account (TSA) in Nigeria, the researchers consider it wise to empirically examine the impact of TSA on funds availability for lending to the economy. The research is meant to evaluate and predict what...