European SMEs rely predominantly on bank credit to fund investment and operating capital, with direct lending markets (bonds) and equity markets both underdeveloped across the EU compared to the US and the UK, as well as other jurisdictions. In addition, there has been a significant decline in...

The long-term fallout from the 2008 global financial crisis created several deep fractures in traditional-banking models. Most of the sectoral attention today has focused on weak operating profits and balance-sheet performance, especially the risks arising from the negative-rates environment and...

The recent Global Financial Crisis (2008-2010) and the accompanying Great Recession (2008-2011) show that the level and the rate of monetary and financial systems integration deployed within the Euro area is not sustainable in the long run. Instead of acting as a buffer against external shocks...

The on-going nationalist revival in Western and Eastern Europe is driven by the confluence of three driving factors: economic, political and social/cultural. This revival presents a major existential challenge to the status quo ante of managerial or technocratic society – a challenge that can...

During 2017, a few fortunate investors have made a lot of money very quickly on their investment in crypto-currencies, an asset class that did not exist just eight short years ago. But as with other rapidly evolving assets, that often seem too good to be true, the potential soaring profits of...

Current paper proposes an extension of the seminal model by Holmstrom Tirole (1997) of the exogenous liquidity supply in presence of moral hazard to the case that includes private asset recovery under the limited liability of the entrepreneur. In our model partial private recovery applies to the...

In recent months, the Irish corporate tax regime has featured prominently in international tax policy debates, especially within the context of European tax reforms, high-profile corporate earnings reports and multinational investment flows changes.As financial repression sweeps across the OECD...

In the twenty-first century,growth, economic value and competitive differentiation of cities will increasingly be derived from people and their skills, creativity and knowledge, as well as the capacity of the economy to create and absorb innovation. To compete in this new economic environment,...

We present a review of the Irish banking collapse, detailing its origins in a confluence of events. We suggest that the very concentrated nature of the Irish banking sector which will emerge from the policy decisions taken as a consequence of the collapse runs a risk of a second crisis. We...

This study explores the effect of owner-occupied housing asset holdings on the short and long run determination of exchange rates. In the presence of consumption goods that can simultaneously serve as investment allocation subject to capital gainsiquest;such as owner-occupied housingiquest;the...