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The aim of the present article is twofold. Firstly, to put the German Federal Constitutional Court (i.e., the BverfG) judgment into the context of a drawn-out conflict between the German Republic and the European Union regarding the setting up of a crisis management tool in the area of monetary...
Persistent link: https://www.econbiz.de/10012984451
We analyse the effects of sovereign risk premium on bank profitability amongst 154 Eurozone banks during the period 2005 – 2019. In contrast to some of the results in the previous literature, we find that the euro area banks have not suffered too much from the extremely low and negative...
Persistent link: https://www.econbiz.de/10013216177
Ordoliberalism is often accused as being responsible for Germany's policy stance during the Eurozone crisis. Ordoliberalism originates from the so-called Freiburg School of Economics, founded by Walter Eucken during the 1930s at the University of Freiburg, which is in fact in Germany. It is...
Persistent link: https://www.econbiz.de/10011743490
This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...
Persistent link: https://www.econbiz.de/10012946327
This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...
Persistent link: https://www.econbiz.de/10012950027
, the European Commission's November 2011 Green Paper discussed the introduction of Stability Bonds (or Eurobonds) that … Eurobonds, and the step towards further European fiscal integration they represent. Using a novel dataset derived from the … appear more relevant than self-interest in shaping preferences for/against Eurobonds. However, at the country level, opinion …
Persistent link: https://www.econbiz.de/10010311083
, the European Commission's November 2011 Green Paper discussed the introduction of Stability Bonds (or Eurobonds) that … Eurobonds, and the step towards further European fiscal integration they represent. Using a novel dataset derived from the … appear more relevant than self-interest in shaping preferences for/against Eurobonds. However, at the country level, opinion …
Persistent link: https://www.econbiz.de/10010956224
Persistent link: https://www.econbiz.de/10010321300
We develop a tractable model to study the macroeconomic impacts of limited arbitrage by linking arbitrage activities with the macroeconomy through collateralization. We show that the interactions between speculative trading and the business cycle can work as a powerful transmission mechanism,...
Persistent link: https://www.econbiz.de/10011626467
Persistent link: https://www.econbiz.de/10011584314