This study focuses on three different approaches to the role of finance and the financial sector in economy-wide relations and in specific conditions of economic crises. First, we investigate the Minskyan framework in dealing with the roots and the reasons of financial crises. Second, we look at...

The determinants of the labor share of national income have been investigated by numerous studies. However, there is no consensus for what exactly affects the income differentials of workers, especially after the triumph of neoliberal policies prevailed after 1980s across all countries,...

European Union (EU) countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the Second World War. Financial regulatory and supervisory integration was a very slow process before 2008, despite...

This paper studies the impact of credit rating agency (CRA) announcements on the value of the Euro and the yields of French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011-2012. The employed GARCH models show that CRA downgrade...

As a response to multiple financial shocks, international standards have disappointed. Consensus-seeking has stifled innovation, perpetuating outdated regulatory concepts at a time of rapid market change. Different forces are at work now. Markets are complex and idiosyncratic; they may not be...