This paper aims to focus on capital-related macroprudential policies in the context of recent policy discussions on the removal of barriers to the mobility of capital and liquidity of cross-border banks in the European Union (EU).
This study first discusses the link between financial stability and internal resource mobility of cross-border banks. Then, it examines past heterogeneity in structural capital buffers as key macroprudential capital instruments applied in the EU and relate them to costs of policy action, degree of foreign penetration and membership in the Banking Union.
Observed phase-in patterns of structural capital buffers in the EU are broadly consistent with costs of policy action, degree of foreign penetration and membership in the Banking Union as potential factors. The process of financial integration could be further enhanced through reduced uncertainty in the application of macroprudential policies that constrain capital mobility of cross-border banks.
This paper anchors macroprudential policies into a wider discussion on the mechanism and implications of ring-fencing in the EU over time. It discusses two policy areas, macroprudential policies and proposals for deeper financial integration, that share the same financial stability objective but tend to emphasize different implications of the mobility of capital and liquidity of cross-border banks in the EU. The study provides a discussion of potential implications of the recent adoption of the CRRII/CRDV legislation for future heterogeneity of macroprudential policies in the EU.
– The purpose of this paper is to examine how users in an anonymous virtual environment react to an offer to trade in access to their social network profile.
The purpose of this paper is to examine how users in an anonymous virtual environment react to an offer to trade in access to their social network profile.
The experiment was conducted in Second Life (SL). Participants were offered varied sums of money in exchange for access to their Facebook profile, effectively undermining their anonymity.
Even in an anonymous environment, money plays a role in users’ decisions to disclose their offline identity, but a closer look at the findings reveals that users also use deception to enjoy the benefits of the offer without paying the costs. The results illustrate three types of users according to the strategies they employ: abstainers, traders, and deceivers.
The implications to the field of online information disclosure lie at the ability to illustrate and distinguish between the different strategies users choose with regard to online information disclosure, as the study design simulates a common information disclosure trade offer in online environments.
Unlike previous studies that focussed on trades with specific pieces of information, this study examines willingness to sell access to a user’s entire profile, by thus better simulating online services conduct. This is also the first privacy experiment conducted in the anonymous environment of SL, and the first to study deception as a privacy protection strategy.