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...

Bericht des Europäischen Amtes für Betrugsbekämpfung für das Jahr 2003.

This study provides a background for the preparation of the Broad Economic Policy Guidelines (BEPG) 2003 and assists the EP in putting forward recommendations in supply-side issues covered in the BEPGs. The report looks at investment, progress in opening markets, integration of financial...

The European Network of Economic Policy Research Institutes (ENEPRI) brings together twenty-four leading national economic policy research institutes from most of the EU-27 countries. The goals of the network are to foster the international diffusion of existing research, co-ordinate research...

Back in the 1960s the EU accepted the idea of Turkish membership in a fit of absent-mindedness, not as part of a coherent strategy. EU leaders and their voters are mostly unenthusiastic about the idea of Turkey joining the EU, and many prominent politicians openly oppose it. Yet the EU has made...

The economic gap between the EU and three candidate countries - Bulgaria, Romania and Turkey - is significant. Living standards, as measured by GDP per capita at PPP, are less than one third of the level prevailing in the former EU-15 u0096 and about half of the average level in the new member...