This paper analyzes cooperation between sovereign national authorities in the supervision and regulation of a multinational bank. We take a political economy approach to regulation and assume that supervisors maximize the welfare of their own country. The communication between the supervisors is...

We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main differences in the recent expansion of service employment in OECD...

In a payment card association such as Visa, each time a consumer pays by card, the bank of the merchant (acquirer) pays an interchange fee (IF) to the bank of the cardholder (issuer) to carry out the transaction. This paper studies the determinants of socially and privately optimal IFs in a card...

The paper presents an analysis of the trade-offs of participants of different type between payment delay and liquidity requirement on the basis of synthetically generated data. The generation of the synthetic transaction data set for a simple RTGS system is described and calibrated using real...

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved through financial markets when enforcement is based on the...

This study about legal and commercial guarantees, funded by the European Union in the frame of the EU Consumer Programme (2014-2020), looks at the extent to which sellers are aware of, and comply with, relevant EU legislation; the way in which legal and commercial guarantees are communicated to...

The overall purpose of this Behavioural Study on the Transparency of Online Platforms is to understand the impact of enhanced transparency on consumer trust and behaviour in searching and selecting goods and services on online platforms in three specific areas: Area #1: The general criteria used...

Previous research has shown that when buying products and services online, the vast majority of consumers accept Terms and Conditions (T&Cs) without even reading them. The current research examined effects of interventions aimed at making consumers aware of the quality of such T&Cs. This was...