In this paper, we discuss pros and cons of different models for financial market regulation and we present a proposal for the re-organisation of regulatory and supervisory agencies in the Euro Area, which is based on the assignment of different objectives or quot;finalitiesquot; to different...

This paper adds some new arguments to the thesis that the responsibility for banking supervision should be assigned to an agency formally separated by the Central bank. We also provide some additional evidence on the macro and microeconomic performance of OECD countries whose banking systems are...

This paper adds some new arguments to the thesis that the responsibility for banking supervision should be assigned to an agency formally separated by the Central bank. We also provide some additional evidence on the macro and microeconomic performance of OECD countries whose banking systems are...

In this paper, we discuss pros and cons of different models for financial market regulation and supervision and we present a proposal for the re-organisation of regulatory and supervisory agencies in the Euro Area. Our arguments are consistent with both new theories and effective behaviour of...

In this paper, we present a thorough proposal for the re-organization of regulatory arrangements and supervisory agencies on financial markets and intermediaries in Italy. After a review of the objectives and theoretical models for regulating and supervising the financial system, we focus on...

In many industries there are firms whose shareholders are also customers. They have contrasting interests: they get more utility as the firm's profits increase but also if the prices of the good decreases as their private consumer surplus increases. An interesting example is in the...

With the aim of restoring a strong global framework for economic governance, this study proposes new rules of the game - imposed through the Group of 20 and the IMF - for the macroeconomic and exchange rate policies of the main players, including the United States. It also advocates stricter...

In many industries there are firms whose owners are also customers. They have contrasting interests: They get more utility as the firm's profits increase, and the prices of the good decreases as their private consumer surplus increases. An interesting example is the stock exchange industry. This...

The protection of savings and the creation of insurance schemes is becoming a hot topic for the European Union Regulator: incoming Directives seem to state a sort of quot;financial guarantee scheme modelquot; valid not only for deposit insurance but also for investor compensation schemes in case...

A relevant and current policy debate is whether banking supervision should be assigned to the same institution (the central bank) that is responsible for monetary policy. This paper reviews the theoretical arguments advanced in favour and against the solution of having banking supervision...