D'Imperio, Paolo; Schelkle, Waltraud - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 77-88
A Capital Markets Union (CMU) is the great hope of European policymakers. The plan for a CMU tries to reduce the reliance of European investors on banks and build up a market-based risk-sharing channel between member states. Our empirical analysis raises doubts that this can be achieved through...
