On June 4-5, 2014, SUERF and Baffi Finlawmetrics jointly organised a Colloquium/Conference "Money, Regulation and Growth: Financing New Growth in Europe" at Bocconi University, Milan. The present SUERF Study includes a selection of papers based on the authors’ contributions to the Milan event....

We provide evidence on the growth patterns of microfinance clients. Our analysis is motivated by the debate on the impact of microfinance on client income and growth. Based on loan-level data from close to 40,000 clients in Sub-Saharan Africa we make use of an econometric approach widely...

Ein Finanzjournalist, der seit gut 15 Jahren ber die Arbeit der Bundesbank und der Europäischen Zentralbank berichtet, stellt Fragen, die in der akademischen Diskussion nur von Außenseitern gestellt werden. Eine davon. Wenn Notenbanken einfach nach belieben Geld drucken können, wie kann es...

One of the roots of the recent global financial crisis has been seen in the design of subprime mortgage contract leading to high sensitivity of such type of loans to house price changes. The market of subprime loans, especially in the last years preceding the crisis, has been highly financed by...