As the basis for a European regime for resolving failing and failed banks, the European Commission has proposed the Bank Resolution and Recovery Directive (BRRD) and a regulation establishing a European Single Resolution Mechanism (SRM) and a Single Bank Resolution Fund (SBRF). There is a debate...

In the European Union, the creation of public debt statistics starts with member state governments' reports. The EU's statistical agency-Eurostat-then revises. How do these actors' incentives shape reported numbers? Governments have incentives to take a more favourable view of often ambiguous...

Japan serves as a cautionary tale for Italy on how to clean up banking-sector problems. A general lesson is the need for policies to forthrightly address non-performing loans (NPLs) in countries with widespread banking problems. This helps address zombie banks and sluggish economic growth. What...

Multi-party elected national legislatures should be venues for peacefully resolving conflicts be- tween opposing groups. However, they can become scenes of physical violence. Such violence is an indication that a country's legislative institutions are functioning far from perfectly as...

Why do policies often seem to converge across countries at the same time? This question has been studied extensively in the diffusion literature. However, past research has not examined complex choice environments, especially where there are many alternatives. My paper aims to fill this gap in...

Who is watching the financial services industry? Since 1980, there have been multiple waves of thought about whether the ministry of finance, the central bank, a specialized regulator or some combination of these should have supervisory authority. These waves have been associated with the...

â?¢ At least 12 European Union member states used publicly created asset management companies (AMCs), otherwise known as a â??badbanksâ?? to respond to the recent financial crisis. This tool remains an option for future bank resolutions under the EU Bank Recovery and Resolution Directive....

Bank supervisors should provide publicly accessible, timely and consistent data on the banks under their jurisdiction. Such transparency increases democratic accountability and leads to greater market efficiency. There is greater supervisory transparency in the United States compared to the...