tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in … European Central Bank’s (ECB’s) announcement of its Outright Monetary Transactions (OMT) program in 2012. At the same time …, Italy and Spain became more interdependent after the OMT announcement, providing our only evidence of contagion. While this …

We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and roll back credit … practical problems of coordinating exit with asymmetric country interests, however, the ECB should go ahead - perhaps joint with … some Far Eastern economies. Coordination of monetary and fiscal exit would undermine ECB independence and is also …

reversed, and that in the euro period the Friedman-Ball link is empirically supported, implying that the ECB can achieve lower …

integration of global financial markets, mega-terrorist events also have a high contagion potential with their shock waves being …

transmission mechanism-contagion-during turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature …