During the Industrial Revolution, did population growth stimulate innovation, or did causality run primarily from innovation to growth? Previous research fails to explain why between 1700 and 1850: (i) most innovation originated in three clusters of cities in Britain, northern France, and the...

Since a mysterious creator under the alias Satoshi Nakamoto (a pseudonym) launched first successful cryptocurrency in January 2009, he (or could be she) also opened the door for never-ending criticism, claims, arguments, plethora of articles, and media frenzy all contemplating what Bitcoin is....

Differentiated integration has becomes a pervasive feature of the EU legal and political reality. It happens when legal rules are not uniformly valid across the EU Member States. This report explores to what extent regimes of differentiated integration are compatible with EU constitutional...

This contribution focuses on the integrated or programmatic approaches at both the European and national level, which are used as a tool to attain environmental quality standards. These approaches leave much room for flexibility with respect to the choice of measures to be adopted in order to...

The claim argued in this paper is that common law, as presently applied to public corporations (i.e., Corporate Law and Securities Law), is characterized by a broad consumer outlook that subsumes standard contracts law. The "consumerist" attributes of shareholders in public corporations rely on...

The Standardized Approach (SA) under the most recent Basel market risk framework – the Fundamental Review of the Trading Book (FRTB) received little attention on its model risk probably because that it is prescribed by the regulators and needs less strict validation and approval process. This...

Using monthly headline inflation data covering 184 countries for the period between 1971:M1 and 2020:M12, this paper investigates the role of standard gravity variables on inflation convergence across bilateral countries. The convergence analysis is based on ten-year rolling windows to control...

This paper presents a theoretical model of competition between information intermediaries applied to credit rating industry. Sellers rely on intermediaries to credibly communicate their quality to buyers. Intermediaries are strategic and compete in fees as well as their certification standards...