During the euro-area financial crisis, interactions among sovereign spreads, sovereign credit ratings, and bank credit …, we consider a panel of five euro-area stressed countries within a three-equation simultaneous system in which sovereign … estimation, which allows us to calculate persistence and multiplier effects. Second, we apply a new, system timevarying …

method of panel quantiles is used on a large sample of 2075 firms operating in the euro area (17 countries) for the period …

imbalances succeeded in preserving the stability and integrity of the euro area. While the priority given by the EU policy action …

In this paper we construct Financial Conditions Indices (FCIs) for the euro area, for the period 2003 to 2011, using a … monetary union. FCIs for individual euro area countries are also provided, with a view to comparing financial conditions in … financialconditions appears not to be entirely symmetric across the euro area …