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 … the ongoing rebalancing of euro area “deficit economies†(Greece, Ireland, Portugal, and Spain) that accumulated large … current account deficits and external liability positions in the run-up to the crisis. It shows that relative price …

GARCH model shows a positive impact of the introduction of the Euro on exchange rate volatility for the Polish zloty … (negative for the Czech koruna), related to its larger exposure to external shocks. For countries in transition to Euro …

This study provides evidence that episodes of internal stability of exchange rates among the 11 Euro countries during … Euro on January 1, 1999, should be expected to contribute to reduced volatility of world commodity prices, other things …

This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …