This paper revisits the soft budget constraint problem arising in decentralised countries. Capturing the specific dynamics of political decision making in a federation, new light is shed on the incentives at work when lower-level (state) governments overborrow and are bailed out by the federal...

The modern banking has never been exposed to event similar to the pandemic of Covid 19 and the massive disruption in different areas of operations due to this event. Until actual health crisis, within their regular activities the banks performed different stress test scenarios including...

The global pandemic, COVID-19, has prevented much of the workforce from traveling to work to reduce the spread of the virus. This has resulted in employers and employees looking for alternative work arrangements, thus nowadays, remote working "enjoys" its momentum that is spreading more and more...

Covid-19 pandemics initiated a profound societal and economic changes with a reflection in the ways of working and labor relations. One year into the pandemics this topic is one of the most sensitive and one that will experience the most intense repercussions. This is visible not only by the...