Bankruptcy (defaulting on one's debts) acts as insurance if it allows default in cases of negative income shocks. However, if debts are not fully recoverable, lenders may instead react by limiting the amount that they allow households to borrow. This upper borrowing limit will increase as the...

Hayward, K.: The globalisation of the defence business. - S. 8-15. Clark, B.: More harm than good? The dangers of defence industry consolidation. - S. 16-21. Crane, C.: Dealing with reality. The difficulties of European consolidation. - S. 22-27. Henneberg, S. von: Is bigger always better? A...

On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...