The crisis can be defined as a period in the dynamics of a system, and it is described as a multitude of difficulties, as a conflict or tensions, fact that makes difficult its normal work or functioning and this can lead to powerful pressures towards changing, and „The crisis period represents...

The European leaders adopted a series of measures so that the Euro zone could come out of the crisis. This study demonstrates that the fiscal Treaty, as the other solutions proposed by the European leaders, represents necessary conditions, which are far from being sufficient to surpass the...

Using a sample of monetary policy announcements in Thailand over the period 2003–2011, I show that a monetary policy surprise tends to affect the return and volatility of the Thai baht. In the full sample, a 1% unexpected increase in the policy rate leads to an about 1.8% depreciation of the...

In order to incentivize stronger issuer due diligence effort, European and U.S. authorities are amending securitization-related regulations to force issuers to retain an economic interest in the securitization products they issue. This paper contributes to the process by exploring the economics...

This paper investigates the impact of the 2007 financial crisis on the relationship between real mortgage interest rates and real house prices. It applies a dynamic conditional correlation based methodology that uses fractionally differenced data along with controls for structural breaks and...

The purpose of this article, and of its earlier companion article (Part (1) Rule-making, 12 European Business Organization Law Review (2011) p. 41), is to examine the implications of the new European Securities and Markets Authority which was established in January 2011. In the wake of the...

We expect firms that face uncertainty about their access to the financial markets to prioritize shorter term investments over longer term ones. Using a high quality panel data set, and a difference-in-differences approach to control for demand effects, we study whether this has been indeed the...

An order flow model, where the coded identity of the counterparties of every trade is known, hence providing institution level order flow, is applied to both stable and crisis periods in a large and liquid overnight repo market in an emerging market economy. Institution level order flow is much...

At global economy level, changes occurred, consisting in transferring production abroad, owing to the comparative advantages of moving production to China or other developing countries, which translate into cost reductions at production level and, implicitly, into price advantages. The...

A speech delivered on January 15, 2014, at the Corridor Economic Forecast Luncheon in Coralville, IA.