By Gundbert Scherf

ISBN-10: 3658009829

ISBN-13: 9783658009823

ISBN-10: 3658009837

ISBN-13: 9783658009830

​Due to the shortcoming of political salience that monetary balance coverage enjoys in tranquil fiscal instances, this coverage box lends itself fairly good to trap – the extra so the extra very important the position of banks is within the economic climate. Gundbert Scherf’s learn specializes in this nexus among built-in banking, supranational financial coverage and nationwide banking legislation. He reveals that nationwide point alterations in monetary structures and comparable associations clarify and force version in regulatory monetary balance coverage throughout countries.

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3). Secondly, with the separation of economics and political science as separate disciplines in the late 19th century, in the twentieth century political economy usually came to refer to the study of the interrelationships of economics and politics – of states and markets (Gilpin, 2001; Strange, 1988). Thirdly and more recently, political economy has been used to describe the study of political behavior and institutions using the methodology of economics. This methodology regards the individual as the unit of analysis, assumes rational utility maximization as the best way to achieve goals, applies mathematical models and game theory to study problems, and uses statistical tools to explain patterns.

In a centrifugal system of proportional representation and coalition government the politicians need only cater to a more specific group and will be prone to deciding policy in favor of special interests and less in favor of the median voter. In centripetal systems the reverse applies as politicians have to build wider majorities and will tend to serve them through for instance more competition in banking to provide lower cost services or higher-yield to consumers. This argument explains a fundamental difference across countries not in terms of economic differences and path dependencies but rather referring to political system differences that are stable over time.

Secondly, with the separation of economics and political science as separate disciplines in the late 19th century, in the twentieth century political economy usually came to refer to the study of the interrelationships of economics and politics – of states and markets (Gilpin, 2001; Strange, 1988). Thirdly and more recently, political economy has been used to describe the study of political behavior and institutions using the methodology of economics. This methodology regards the individual as the unit of analysis, assumes rational utility maximization as the best way to achieve goals, applies mathematical models and game theory to study problems, and uses statistical tools to explain patterns.

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Financial Stability Policy in the Euro Zone: The Political Economy of National Banking Regulation in an Integrating Monetary Union by Gundbert Scherf


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