’s handling of the euro crisis. We link models of multiple equilibria with the IMF's experience made in Latin American crises in …

those of bailouts. Furthermore, we demonstrate that the Euro depreciates significantly against the Yen and US Dollar … following general risk shocks in the euro area and only to a small extent following bailout shocks. The Pound Sterling is not … affected by any of these shocks. The Euro variability is, from the EMU perspective, mainly driven by shocks stemming from large …

to macroeconomic factors increased significantly in the post-Lehman period. Banks hold more bonds from euro area …

the real economy in the euro area. Our FSI was shown to perform better than the Euro STOXX 50 volatility index for the … recent banking crisis and the euro-area sovereign debt crisis and to be able to serve as an early warning indicator for …

estimation is based on a simple autoregressive model and comes to the conclusion that current account adjustment is significantly …

We study the macroeconomic consequences of the money market tensions associated with the financial crisis in the euro … persistent fall in investment. The shock can account for one third of the observed, large fall in euro area aggregate investment …