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The market turmoil in March 2020 highlighted key vulnerabilities in the EU money market fund (MMF) sector. This paper assesses the effectiveness of the EU's regulatory framework from a financial stability perspective, based on a panel analysis of EU MMFs at a daily frequency. First, we find that...
Persistent link: https://www.econbiz.de/10014278421
The market turmoil in March 2020 highlighted key vulnerabilities in the EU money market fund (MMF) sector. This paper assesses the effectiveness of the EU's regulatory framework from a financial stability perspective, based on a panel analysis of EU MMFs at a daily frequency. First, we find that...
Persistent link: https://www.econbiz.de/10014236736
countries, plus the US and Japan. Main findings include a high degree of regulation in wage setting in most countries. Although …
Persistent link: https://www.econbiz.de/10011605020
countries, plus the US and Japan. Main findings include a high degree of regulation in wage setting in most countries. Although …
Persistent link: https://www.econbiz.de/10012768345
This paper analyses information from survey data collected in the framework of the Eurosystem’s Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in...
Persistent link: https://www.econbiz.de/10011605210
Between 2003 and 2008 productivity patterns diverged between the fast growing, newest members of the European Union and the slower paced, elder ones – as would be expected. However, there are also striking divergences within the latter group, with productivity in Southern Europe going into...
Persistent link: https://www.econbiz.de/10011605793
Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral banking linkages among twenty industrial countries in...
Persistent link: https://www.econbiz.de/10011605262
Persistent link: https://www.econbiz.de/10011604312
to (i) the liquidity regulation of AMs and (ii) the solvency regulation of IIs can improve upon the competitive …
Persistent link: https://www.econbiz.de/10012515466
Central clearing counterparties (CCPs) were established to mitigate default losses resulting from counterparty risk in derivatives markets. In a parsimonious model, we show that clearing benefits are distributed unevenly across market participants. Loss sharing rules determine who wins or loses...
Persistent link: https://www.econbiz.de/10014543682