Lack of transparency increases the probability of a banking crisis following financial liberalization. In a country where government policy is not transparent, banks may tend to increase credit above the optimal level. - Mehrez and Kaufmann investigate how transparency affects the probability of...

The authors investigate how transparency affects the probability of a financial crisis. They construct a model in which banks cannot distinguish between aggregate shocks and government policy, on the one hand, and firm' quality, on the other. Banks may therefore overestimate firms' returns and...

The logic, features and future shape of the new financial architecture of the Eurozone were discussed under Chatham House Rules on the occasion of a high-level conference hosted in Florence on 23 April 2015, by the European University Institute in cooperation with Imperial College London. The...

The logic, features and future shape of the new financial architecture of the Eurozone were discussed under Chatham House Rules on the occasion of a high-level conference hosted in Florence on 23 April 2015, by the European University Institute in cooperation with Imperial College London. The...

The Florence School of Banking and Finance at the European University Institute's Robert Schuman Centre of Advanced Studies and the Brevan Howard Centre at Imperial College London, in cooperation with BAFFI CAREFIN at Bocconi University and with the kind support of the European Investment Bank...