This paper decomposes the explained part of the CDS spread changes of 31 listed euro area banks according to various …

This paper studies the effectiveness of Euro Area (EA) fiscal policy, during the recent financial crisis, using an …

computationally feasible for estimation on larger portfolios. The estimation results point to an increase in the average correlation … between sector indexes. This trend is observed in both the euro area and the word-wide portfolios and is therefore not … diversification is more interesting for euro area portfolios. …

This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy … over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …

We discuss the scope of asymmetries in growth and inflation developments in the euro area countries, taking the euro … euro area. This approach typically leads to a division of countries between a core and a periphery, the former consisting … stemming from country-specific shocks and asymmetry stemming from differences in the way countries react to symmetric euro area …

Tommaso Padoa-Schioppa was one of the great architects of the euro. He is remembered in particular as co-rapporteur for …

We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission …