Business Process Modeling (BPM) is the activity of representing the processes of an organization, so that they can be analyzed and improved. Nowadays, with increased globalization, BPM techniques are used, for example, to optimize the way in which organizations react to business events, in order...

This article examines why the European Union (EU) is recognized as a relevant actor in some international institutions, but not in others. Drawing on theories of international institutions and corporate action, it develops a theoretical approach toward EU actorness that demonstrates under which...

Unfair sovereign debts, used, for instance, to suppress a rebellion, may be declared odious and not be repaid once the former regime is overthrown. Bondholders may therefore require a premium to compensate for the higher default risk due to the potentially odious character of these debts. On the...

The views expressed in this paper are those of the authors and do not necessarily reflect the views of the National Bank of Belgium. All remaining errors are the authors' responsibility. We thank Holger Görg, Florian Mayneris, Bruno Merlevede, Glenn Rayp, participants of the 2010 National Bank...

This paper analyses the adjustment mechanism in the euro area prior to the crisis. Results show that the real exchange rate adjusted to redress cyclical divergences and that after monetary unification, real exchange rate dynamics became less reactive to country-specific shocks but also less...