Financial institutions are increasingly linked internationally. As a result, financial crises and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While a social planner trades off tax distortions, liquidation...

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> (1240) Friederike Niepmann and Gabriel J. Felbermayr Copyright 2010 Blackwell Publishing Ltd.

Financial institutions are increasingly linked internationally. As a result, financial crisis and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While a social planner trades off tax distortions, liquidation...

On the occasion of the 65th birthday of Governor Klaus Liebscher and in recognition of his commitment to Austria’s participation in European monetary union and to the cause of European integration, the Oesterreichische Nationalbank (OeNB) established a “Klaus Liebscher Award”. It has been...

Friederike Niepmann and Tim Schmidt-Eisenlohr analyse the balance between financial globalisation, national sovereignty and global cooperation in a crisis