The EU Commission proposes establishing Sovereign-Backed Securities (SBSs) as a class of safe assets for the euro area. SBSs are generated by an issuing agency that would purchase a large diversified portfolio of national sovereign bonds, and finance the purchases by issuing (at least) two types...

Various European instruments for countries particularly affected by the Corona crisis are currently under discussion. In this article several requirements will be established and the existing proposals will be measured against them. The instrument of Corona bonds is considered most effective -...

The European Commission has proposed the introduction of sovereign-backed securities (SBSs) as a class of safe assets for the euro area. SBSs are generated by an issuing agency that would purchase a representative portfolio of national sovereign bonds from the euro area. Purchases are financed...

The EU Commission proposes establishing Sovereign-Backed Securities (SBSs) as a class of safe assets for the euro area. SBSs are generated by an issuing agency that would purchase a large diversified portfolio of national sovereign bonds, and finance the purchases by issuing (at least) two types...

Various European instruments for countries particularly affected by the Corona crisis are currently under discussion. In this article several requirements will be established and the existing proposals will be measured against them. The instrument of Corona bonds is considered most effective –...

This agent-based financial market model is a generalization of the model of Westerhoff (The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies) by traders who are allowed to have different investment horizons as introduced by Demary (Who Does a Currency...

We propose a new model of chartist-fundamentalist-interaction in which both groups of traders are allowed to select endogenously between different forecasting models and different investment horizons. Stochastic interest rates in both countries and different behavioral assumptions for...

After a period of deepening financial integration, the financial crisis triggered a fragmentation of Europe’s capital markets along national lines. Financial integration was prone to sudden stops and capital reversals because cross-border capital flows predominantly consisted of short-term...