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should be spread over a period which takes into account the underlying business cycle of the institution and its business risks. Recommended risk-adjustment mechanisms should combine the malus and claw back arrangements. They should lead to reduction of

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Acta Oeconomica
Authors: Jorge de Andrés-Sánchez, Ángel Belzunegui-Eraso, and Francesc Valls-Fonayet

, T. (eds): Child Well-Being, Child Poverty and Child Policy in Modern Nations: What Do We Know . Bristol : Policy Press , 371 – 405 . 10.2307/j.ctt1t892w4.25 Quah , C. H. ( 2014 ): Revisiting Business Cycles in the Eurozone: A Fuzzy

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, WP/2000/30, February. Hodrick, R. J., and Prescott, E. C. (1997): Postwar U. S. Business Cycles: An Empirical Investigation. Journal of Money, Credit, and Banking 29 : 1-16. Postwar U

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1992 59 663 688 Alesina, A. — Sachs, J. (1988): Political Parties and the Business Cycle in the United States, 1948

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. — Larrain B. (2005): Finance and the Business Cycle: International, Inter-industry Evidence. The Journal of Finance 60(3): 1097–1128. Larrain B. Finance and the Business Cycle

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, Credit, Interest, and the Business Cycle . Cambridge, MA: Harvard University Press; reprinted, New Brunswick, NJ: Transaction Books, 1983. Schumpeter J. A

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. European Commission (2009): Economic Crisis in Europe: Causes, Consequences and Responses. European Economy 7. Iacoviello, M. (2005): House Prices, Collateral Constraints and Monetary Policy in the Business Cycle

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): Real Business Cycles . Journal of Economic Literature 32 : 1750 – 1783 . Summers , L. H. ( 1993 ): Some Sceptical Observations on Real Business Cycle Theory . Federal

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Business Cycle. Journal of Economic Perspectives . Inventory (Dis)investment, Internal Finance and the Business Cycle Journal of Economic Perspectives

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Society and Economy
Authors: Peter Galbács and Anton Tyshkovskyi

, D. (1994): Political Essays . Cambridge University Press , Cambridge , pp 115 – 125 Lucas , R. E. ( 1980 ): Methods and Problems in Business Cycle Theory

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