This paper investigates the link between sovereign ratings and macroeconomic fundamentals for a group of euro area … countries which recorded rating downgrades amid the euro area sovereign debt crisis. We apply an elaborated econometric … estimation technique, based on a Bayesian ordered probit model, to understand how the decisions of rating agencies can be …

This paper investigates the link between sovereign ratings and macroeconomic fundamentals for a group of euro area … countries which recorded rating downgrades amid the euro area sovereign debt crisis. We apply an elaborated econometric … estimation technique, based on a Bayesian ordered probit model, to understand how the decisions of rating agencies can be …

three sections, the first of which surveys the diverse outcomes since the launch of the euro. This illustrates how the … benefits the euro can generate depend on the degree of openness, flexibility and income correlation among euro area countries …

This paper analyses the incidence and severity of sudden stops in euro area countries before and after the introduction … stops, we document that sudden stops were overall more frequent and more severe in euro area countries compared to other … euro area countries to severe sudden stops mainly reflects domestic fundamentals whereas there is no clear evidence of an …