The European Central Bank (ECB) took many measures to combat the eurozone’s rolling financial crisis. For providing … desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we … October 2009 and September 2012, the most intense phase of the eurozone crisis. Dollar liquidity clearly reduced stress in …

In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries' banks …

We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy …

This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks … distributive effects of an orderly eurozone dissolution …

speeches. To carry out the analysis, we construct the Euro Area Monetary Policy Event-Study Database (EA-MPD). This database …, is a contribution on its own right and we expect it to be the standard in monetary policy research for the euro area …

euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels … of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted … the euro area. Since the European financial and debt crisis, public financing mechanisms and the unconventional monetary …