Is the OMT program in violation of the ECB's mandate? This paper applies the economic argumentation put forth by the OMT's opponents and supporters before the Federal German Constitutional Court [Bundesverfassungsgericht] to the full allotment policy practiced by the ECB since October 2008. The...

Ist das OMT-Programm der EZB mandatswidrig? Dieser Beitrag wendet die ökonomische Argumentation der OMT-Kritiker vor dem deutschen Bundesverfassungsgericht auf die seit Oktober 2008 praktizierte Vollzuteilungspolitik an. Der Vergleich zeigt, dass danach auch die Vollzuteilungspolitik...

Within the last decade sizeable capital inflows from mature economies were accompanied by rapid financial deepening in the Western Balkans, Turkey and the CIS. Notwithstanding their considerably different initial positions most countries sustained financial stability in the first period of the...

Foreign banks have increased their market share in many emerging markets since the mid-1990s. We examine whether this contributed to financial stability in the respective host countries in the global financial crisis. Our results suggest that the stabilizing impact of foreign banks was limited...

Is the OMT program in violation of the ECB's mandate? This paper applies the economic argumentation put forth by the OMT's opponents and supporters before the Federal German Constitutional Court [Bundesverfassungsgericht] to the full allotment policy practiced by the ECB since October 2008. The...

Ist das OMT-Programm der EZB mandatswidrig? Dieser Beitrag wendet die ökonomische Argumentation der OMT-Kritiker vor dem deutschen Bundesverfassungsgericht auf die seit Oktober 2008 praktizierte Vollzuteilungspolitik an. Der Vergleich zeigt, dass danach auch die Vollzuteilungspolitik...

Foreign banks have increased their market share in many emerging markets since the mid-1990s. We examine whether this contributed to financial stability in the respective host countries in the global financial crisis. Our results suggest that the stabilizing impact of foreign banks was limited...

Within the last decade sizeable capital inflows from mature economies were accompanied by rapid financial deepening in the Western Balkans, Turkey and the CIS. Notwithstanding their considerably different initial positions most countries sustained financial stability in the first period of the...