We develop a theory of blockchain governance. In our model, the proof-of-work system, which is the most common set of rules for validating transactions in blockchains, creates an industrial ecosystem with specialized suppliers of goods and services. We analyze the two-way interactions between...

The Financial Sector Reforms Commission (FSLRC) which was set up in 2011 by the Ministry of Finance was mandated to study existing legislation and financial sector regulatory practices in India and to propose improvements. The FSLRC submitted its report in 2013 and four of its members recorded...

This article examines the spread of financialization in Germany before the financial crisis. It provides an up-to date overview on the literature on financialization and reviews which of the phenomena typically associated with financialization have emerged in Germany. In particular, the article...

In order to promote public policies aimed at enhancing financial inclusion, the Central Bank of Argentina makes periodic efforts to study, measure and analyze the processes of access and use of financial services by households in Argentina. The main objective of this paper is to use the...

The wide-ranging economic developments of the previous decade, e.g. the integration ofworld economies, have made a significant impact towards increasing the mobility of theworking populace and their families. At the same time, technological developments especiallyin the field of...

The increased need/wish for mobility amongst various sections of the society, particularlyamongst professionally active groups, is confronting credit institutions (banks) and otherenterprises offering financial services, with challenges to adjust their service portfolio in away to best suit the...

Mobile Commerce is gaining increasing acceptance amongst various sections of the society. Thisgrowth can be partly traced back to technological and demographical developments that have beeninfluencing important aspects of the socio-cultural behaviour in today’s world. The need/wish formobility...

Auch der Schweizer Finanzplatz wird sich im Zeichen des E-Commerce weiter verändern, um sich neuen Herausforderungen zu stellen. Wwer unter den alten und neuen Anbietern von Finanzdienstleistungen als Sieger aus diesem Transformationsprozess hervorgehen wird, ist schwierig zu prognostizieren...

This introductory essay briefly summarizes the eleven empirical studies of price setting and price adjustment that are included in this special issue. The studies, which use data from several European countries, were conducted as part of the European Central Bank's Inflation Persistence Network.

We study the cost of breaching an implicit contract in a goods market. Young and Levy (2014) document an implicit contract between the Coca-Cola Company and its consumers. This implicit contract included a promise of constant quality. We offer two types of evidence of the costs of breach. First,...