We have studied statistical characteristics of five share price time series. For each stock price, we estimated a best fit quantitative model for the monthly closing price as based on the decomposition into two defining consumer price indices selected from a large set of CPIs. It was found that...

This study examines the impacts of interest rate on banks' return in 14 international markets. This research covers seven financial ratios as dependent variables as well as the return of the bank. Moreover, size of the banks is a control variable. The sample of data is from 2001 until the end of...

Gone are the days when inflation fears had receded under years of 'Great Moderation' in macroeconomics. The US subprime financial crisis, the ensuing 'Great Recession' and the sovereign debt scares that spread throughout much of the industrialized world brought about a new order characterized by...

Now that Congress has passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, regulators promulgating the rules under this new bill must tackle a major problem that the reform bill addresses only indirectly. This is the problem of excessive “leverage” – financing with too...

Social innovation usually refers to two different denotations: One is related to social processes of innovation such as open source methods; the other refers to improvement of the everyday life, meeting social needs of all kinds and finally strengthening of civil society . While this paper deals...

On 4 September 2013 the European Commission released a proposal that seeks to restructure the entire European money market fund (MMF) industry. This article outlines the premises of the proposal and discusses concerns related to the most controversial provisions. We believe that economically...

This Article presents European money market funds from multiple dimensions and shows the diversity of these funds — a diversity rooted in the historical developments of diverse European financial markets. The events of the financial crisis and liquidity squeeze confronting European money...

We analyse the pass-through of monetary policy measures to lending rates to firms and households in the euro area using a unique bank-level dataset. Bank balance sheet characteristics such as the capital ratio and the exposure to sovereign debt are responsible for the heterogeneity of...

Introductory thoughts, and preview of topics discussed in later chapters. For Chapter 2 (Means of Exchange: Ever-present Competition), see https://ssrn.com/abstract=3135028. For Chapter 3 (Platform-based Currencies), see https://ssrn.com/abstract=3135030. For Chapter 4 (Cryptocurrencies), see...

Danish Abstract: Til trods for ekspansiv pengepolitik, med negative renter og kvantitative lempelser (QE), er den europæiske økonomi fanget i en situation med deflationært pres og lav vækst. En overset forklaring på pengepolitikkens ineffektivitet er, at den teknologiske udvikling og...