intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While …

, we show that bailout plans with controlled interest rates can help in reducing debt-GDP ratios after some time. On the …

the ability of the central bank to alleviate the fiscal burden by inuencing different terms in the government resource … seignorage is generated and subject to what constraints, (iii) whether central bank liabilities should count as public debt, (iv …) how central bank assets create income risk, and whether or not this threatens its solvency, and (v) how the central bank …

Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central … bankruptcy. We term these factors discipline and stability effects, respectively. The central bank's welfare decreases with …

developed considering this new paradigm and discuss how institutional features relating to bank closure policy influences lender …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank …