Eine aufgabenorientierte Vorbereitung ist für das Bestehen vieler Prüfungen im Bereich der Wirtschaftswissenschaften unerlässlich. Der Aufbau der Kapitel orientiert sich an der grundlegend aktualisierten 7. Auflage des Lehrbuches Makroökonomie (ISBN 9783868943085) von...

Credit rating agencies (CRAs) very often have been criticized for announcing inaccurate credit ratings and are suspected of being exposed to conflicts of interest. Despite these objections CRAs remained largely unregulated. Based on Pagano & Immordino (2007), we study the optimal regulation of...

Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed descriptions of the stock market crash in 1987, the LTCM-crisis in 1998 and the financial market consequences of 11 September 2001. The events also demonstrate that modern central banks,...

This paper provides a framework to analyse emergency liquidity assistance of central banks on financial markets in response to aggregate and idiosyncratic liquidity shocks. The model combines the microeconomic view of liquidity as the ability to sell assets quickly and at low costs and the...