This paper reviews financial stability challenges in the EU candidate countries Croatia, Turkey and the former Yugoslav Republic of Macedonia. It examines the fi nancial sectors in these three economies, which, while at very different stages of development and embedded in quite diverse economic...

Analyzing the attitude of the City of London towards the euro can seem a bit strange today, at a time when Great Britain has still not joined the eurozone and even tries to organize a referendum about Britain's EU membership. One should not forget that in January 2013 Prime Minister David...

Senior Scholar James K. Galbraith argues the fundamental illusion of viewing the US economy through the free-market prism of deregulation, privatization, and a benevolent government operating mainly through monetary stabilization - the prevailing view among economists over the past three...

In this new brief, Senior Scholar L. Randall Wray examines the later works of Hyman P. Minsky, with a focus on Minsky's general approach to financial institutions and policy. The New Deal reforms of the 1930s strengthened the financial system by separating investment banks from commercial banks...

We review the major provisions of Dodd-Frank, focusing on the monitoring of systemic risk, the limitation on proprietary trading, the regulation of the hedge fund industry, credit rating agencies, and the rules applicable to derivative trading. We compare these provisions with the recent...

Finanzsysteme vermitteln Kapital zwischen Anlegern und Kapitalnachfragern, ermöglichen hierdurch In-vestitionen und bestimmen somit die langfristige wirtschaftliche Entwicklung mit. In der vergleichenden Finanzsystemforschung wird zwischen bankbasierten und kapitalmarktbasierten Finanzsystemen...

Im vorliegenden Papier erklären Pola Schneemelcher, Max Krahé und Philippa Sigl-Glöckner, wie der Bund operativ Schulden macht und weshalb das strukturelle Defizit und die Schuldenstandsquote verzerrende Maßstäbe für die Bewertung der fiskalischen Situation sind. Der Gegenwartswert von...