This paper explains and evaluates three proposals to create "safe assets" for the euro area based on sovereign bonds …, in which sovereign risk is limited through diversification and some form of seniority. These assets would be held by …

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 …

We explore how changes in capital-based macroprudential regulation in the euro area affect the exposure of national … responses to the unsystematic component of macroprudential policy in panel vector autoregressive models for euro area ”core” and …

We assess public finances solvency for Euro Area countries using quarterly data between 1999Q1 and 2020Q4. Through a …

European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis … covering the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign … banks increase their relative exposures when the sovereign risk rises. The effect of informational closeness is economically …

is described using a stochastic regime-switching model; second, the euro area governments’ responses to uncertain … macroeconomic policies in Greece are considered. The model’s mechanism and assumptions allow either for a Grexit from the euro area … understand key drivers of the long-winded negotiations between the Syiza government and the euro area governments. …

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial … markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper …

and thus on the extent of risk sharing across member states. The literature to date has focused on financial and credit … markets as well as on transfer schemes as channels of risk sharing. In this paper, we show how the standard approach to … quantify risk sharing can be extended to account for migration as an additional channel of cross-country risk sharing. In …