The safe asset potential of EU-issued bonds
Modern financial systems rely on safe assets. A ‘safe asset’ is defined by three characteristics (Brunnermeier et al. 2016, 2017, Brunnermeier and Huang 2018, Gorton
How to fix the European Union’s proposed Data Act
The draft European Union Data Act, proposed by the European Commission in February 2022, aims to fill a big gap in data regulation. It is intended
Has the Digital Markets Act got it wrong on app stores?
Apple’s iPhone and Google’s Android mobile operating system dominate the smartphone market. The two companies also control the app stores consumers use when downloading apps
If it doesn’t trade, is it really marketable debt?
When it comes to encouraging fiscal discipline, euro-area policymakers want the market to be part of the solution. This will not succeed until they make
