, which have been followed by a lasting crisis. The paper analyses the role of a high degree of regional heterogeneity for … public debt and monetary policy in the context of crisis. It is shown for Japan that the attempts to maintain regional … across Japanese regions pre- and post-crisis. The side condition is monetary expansion. A similar effect could emerge in …

regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to … annual data from 1999 to 2011 drawn from 132 countries. The probability of a financial crisis fits an inverted U-shaped curve …

We investigate the welfare implications of two pre-crisis immigration waves (1991–2000 and 2001–2010) and of the post-crisis … across countries and across skill groups. In relative terms, the post-crisis wave induces smaller welfare gains compared to …

We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The … crisis and the first programme's (2010-11) failure were mainly the result of misguided internal policies. The second …

crisis. Using common factor analysis, we demonstrate that people’s lives are mainly affected in two ways: First, a notable …. Second, many people suffer from socio-economic consequences of the crisis, including a discontinuation of employment, a …

characterised by a weakened link between spreads and fundamentals, but with higher spreads relative to the pre-crisis period and …