In 2000, occupational pension systems comprised 430,000 individuals as eligible for a future old-age pension. With one out of six dependently employed persons entitled to a future company pension, this figure is markedly below EU average. Company pensions are most prevalent among major...

The assessment of 10 years of EMU is ambivalent. On the one hand, the introduction of the common currency has contributed towards price stability and the euro has acquired a global status next to the dollar. Monetary Union has also stimulated cross-border trade within the euro area. On the other...

The public revenue sharing scheme regulates the distribution of tax revenues among the federal, state and local governments and that of transfers from the federal level. As a consequence of the centralised tax revenue system it is the central financing source for the state and local authorities....

The current capital accord ("Basel I") has been found inadequate in strengthening the stability of the international banking system. Its undifferentiated and inexact registration of credit risks and the breakneck pace of introducing innovative financial tools have greatly impaired its...