Am 1. Januar 2002 wurde mit der Einführung des Euro-Bargelds der finale Schritt auf dem Weg zur Europäischen Währungsunion vollzogen. Parallel verhandelte die Kommission bereits seit Jahren mit den mittel- und osteuropäischen Transformationsländern über deren künftigen Beitritt zur...

Already before the final introduction of the single European currency there have been negotiations on a further enlargement of the Eurozone to the East. The accession of 10 Central and Eastern European Countries (CEEC) to Euroland is likely to be realised within the next 10 years and it is an...

The accession of several Central and Eastern European Countries to Euroland is likely to be realised within the next years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the related macroeconomic costs. Still, they are prone to...

We examine the determinants of Japanese foreign direct investment (FDI) focusing on institutional and social factors. Using panel data on 59 countries from 1995 to 2008, we find that host countries with free and open markets and greater cultural distance from Japan attract Japanese FDI. Good...

This paper analyzes the determinants of the interest margin of German banks over the period 1995–2007, explicitly addressing differences among different bank groups. We use three empirical models to focus on the following aspects: the time evolution of the interest margin, the average...

This paper analyzes the determinants of the interest margin of German banks over the period 1995-2007, explicitly addressing differences among different bank groups. We use three empirical models to focus on the following aspects: the time evolution of the interest margin, the average...

We analyze empirically the existence and the extent of financial contagion by means of extreme value theory in the Asian crisis. We consider two key markets, the stock exchange and the foreign exchange using daily data in the period 1992–2001. We present several notions of financial contagion...

The aim of the paper is to show how changes in interest rate behavior, characterized in terms of stochastic orders of rate distributions, affect the banking industry. The basic feature of a banking firm is of a financial intermediary holding highly illiquid assets in the presence of liabilities...