This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...

This study will focus on the programming period 2000-2006, analysing financial management and control issues in relation with the ESF measures implemented in the Netherlands, Portugal and the United Kingdom representing some 20% of total ESF resources. To date, there is limited evidence of the...

Some financial products facilitate (“Financial Instruments”’) the use of voting rights that can be considered questionable under the law (“Questionable Uses of Voting Rights”). These Questionable Uses of Voting Rights become apparent when, using the Financial Instruments, an investor...