If the Stock Market crashes, the Federal Reserve System (the Fed) ought to open the Discount Window to Main Street, by making 1. loans only for the creation of real wealth; 2. loans at cost; 3. loans to benefit as large a number of people as possible by issuing loans to individual entrepreneurs,...

Any discussion on improving the existing arrangements for assessing and managing financial risks and in particular supervising the relevant institutions will also need to address the question on which institution should be responsible for which task and for which sector of the financial system,...

1. the real economy does not grow exponentially in mature economies, but only approximately linearly. The reasons for this are: - the increasing saturation tendency of demand because of increasingly fulfilled basic needs and increasing inequality of distribution, - declining rates of investment...

This paper critically examines the quantitative approach to financial crises from two perspectives. First, the assumption of comparability of financial crises is analyzed. The key question here is: how comparable are crises? An important consideration here is the context – social and...

Economic conflict resolution historically has been seen, by the main schools of economic thought, as the distribution of given, scarce resources. The neoclassical school argued that the distribution was efficiently solved by the price system, and the Marxist school argued that a revolution to...

The sharp rise in public debt-to-GDP ratios in the aftermath of the financial crisis of 2008 posed serious challenges for fiscal policy in the euro area countries and culminated for some member states in a sovereign debt crisis. This note examines the public policy responses to the euro area...

Abstract Englisch Apparently the European economic model being subjected to a double competition problem. On the one hand, there are enormous differences in the level of competitiveness of the various member countries of the euro area and the EU among themselves. In the long term this Problem...

In social sciences there has been a long debate between the defenders of institutionalism and those of liberalism. The debate has centered around the relationship that exists between the individual (agent) and the social institutions (social structure). In general, liberalism defends that the...

Basel III is a framework to preserve the stability of the international banking system. Nigeria adopts Basel capital framework for capital regulation in the banking sector. This article is a policy discussion on how to make Basel III work in Nigeria. The significance of Basel III is discussed,...

This paper investigates bank earnings management using loan loss provision (LLP). The paper examines income smoothing which is a type of earnings management. It compares the income smoothing behaviour of banks in the UK, France, South Africa and Egypt. The findings show that bank income...