The paper analyses the likely political and economic impacts of Turkish membership of the EU for the Union itself. It asks whether Turkish accession can be managed in a similar way to that of other enlargements or whether critics are right that Turkey is too big, too poor, has too dangerous...

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete in a differentiated loan market, hold reserves against liquidity shocks, and refinance in the interbank market. A merger creates an internal money market that induces financial...

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial Countries, 1880-2001u0094 by William G. Dewald, Professor of Economics Emeritus, Ohio State University and Former Director of Research, Federal Reserve Bank of St. Louis. Annual...

Finland is the forerunner in adjusting to the ageing of population. Population ageing will have repercussions on the labour market, economic growth potential and public finances. The main features of the Finnish strategy to counter the effects of population ageing have been extensive and...