Sound public finances are necessary for the functioning and economic prosperity of a common currency union. The financial, economic and European sovereign debt crises revealed that financial stability and economic growth also serve as prerequisites and that all three interact in this respect....

The year 2010 showed how prone to crisis the Euro zone is. To a great extent this results from insufficient public policy coordination of EU member states’ public and fiscal policies. This paper discusses the main reform proposals related to fiscal, public and structural policy against the...

Information search is costly for private households, especially in relation to their wealth. This paper investigates how retail customers react to free portfolio reporting—and thus reduced search costs—in a unique experimental setting. A large German direct bank sends portfolio reports to...