The incompleteness of Europe's different levels of economic governance was the theme of this Florence School of Banking and Finance conference, held under Chatham House rules. The conference consisted of three panel sessions, one keynote lecture and one dinner speech. Opening the event,...

The incompleteness of Europe's different levels of economic governance was the theme of this Florence School of Banking and Finance conference, held under Chatham House rules. The conference consisted of three panel sessions, one keynote lecture and one dinner speech. Opening the event,...

We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailout of Russia in August 1998 is interpreted as an event that decreased the perceived...