The paper discusses the prospects for European Banking Union as they appear in the summer of 2014. The first part gives an overview over the problems that gave rise to the Banking Union initiative, the second part discusses the legislative measures that have been taken towards this objective....

The paper gives an overview over issues concerning the role of financial stability in monetary policy and the relation between banking supervision and central banking. Following a brief account of developments in the European Monetary Union since its creation, the systematic treatment contains...

Im Gefolge der Finanzkrise werden Forderungen nach einer Reform oder sogar einer zeitlichen Aussetzung von Basel II laut. Kritisiert wird vor allem die systemimmanente Prozyklizität. Ist dieser Mechanismus mitverantwortlich für die bestehende oder vermeintliche Kreditklemme? Martin Hellwig...

The paper contributes to the ongoing discussion about appropriate policies towards banks when economic growth is lagging. Whereas the European Commission and representatives of the German government argue that strict banking regulation harms economic growth, the comparison between Europe and the...

We propose a new approach to the normative analysis of public-good provision. In addition to individual incentive compatibility, we impose conditions of robust implementability and coalition proofness. Under these additional conditions, participants' contributions can only depend on the level of...