The current paper broadens the understanding of the role played by uncertainty in the context of macroeconomic fluctuations. It focuses on the implications of uncertainty shocks for indicators that tend to precede financial crises. In an empirical analysis we show for a set of four euro area...

The role of outside directors is one of the key features in the transatlantic corporate governance debate. As their importance rises, their liability is also attracting attention. Since there are only a few cases internationally in which outside directors of listed companies have been held...

The article explores the influence of private pensions on Corporate Governance and puts the US and the UK as well as Germany and Japan. Due to old age security system relying on private pensions, the Corporate Governance systems of the US and the UK have been influenced to a significant degree...

In Germany, shareholders' agreements were discussed primarily as a company law issue but are of practical importance also in listed companies. Shareholders' agreements occur primarily in family held stock corporations but are at least not disclosed in all firms with different family members as...

Labor and pensions in the United States and Germany have significant differences. While German labor and pension law is based on bans of unfair dismissals in labor contracts, employee representation on supervisory boards, and public pensions, the United States provides no such employee rights,...

A structural Bayesian vector autoregression model predicts that - when accompanied by a decline in consumer confidence - a one-percent decrease in house prices is associated with a contraction of economic activity by 0.2 to 1.2 percent after one year. Results point to important second-round...

The consequences of the Brexit vote will be felt throughout the legal systems, both in the UK and in the EU. The legal consequences of the Brexit decision and the process which will lead to the withdrawal of the UK, raises numerous questions many of which are in the process of being analysed,...

Currently, the Council of the European Union is negotiating the European Commission's recent proposal on cross-border mobility. This paper provides an overall assessment based on the proposal's central pillars: freedom of establishment and protection of the interests of creditors, shareholders,...