of more crisis prone regimes suggests no simple dividing line between safe floats and risky intermediate regimes. …

nature of the crisis? Contrary to the commonly held view that foreign banks play a stabilizing role during domestic banking …

Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by … constructing an effective crisis stress test. It combines financial markets impact studies of previous exercises with relevant case …. Pertinent concepts, issues and nuances particular to crisis stress testing are also discussed. The findings may be useful for …

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of … current account deficits and external liability positions in the run-up to the crisis. It shows that relative price …