We investigate the interaction between inequality, leverage and financial crises using bivariate Granger causality tests for a sample of 13 European countries and the United States over the period 1975-2013. We also examine the relevance of other determinants of expansions in credit to income...

Die deutsche Wirtschaft wurde von der globalen Immobilien- und Finanzkrise hart getroffen. Aufgrund der starken Exportorientierung ist der Wirtschaftseinbruch im Vergleich zu anderen europäischen Ländern besonders stark. Allerdings: Die Arbeitsmarktentwicklung verlief dagegen bislang...

Governments on both sides of the Atlantic have reacted with a raft of new regulations to the US subprime mortgage crisis. The article argues that while these new rules actually touch many of the incentive and information problems which were instrumental in creating the crisis, they only address...