Showing 1 - 10 of 1,225
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...
Persistent link: https://www.econbiz.de/10011735972
warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone’s specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …
Persistent link: https://www.econbiz.de/10012033212
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 programme (2012-14) achieved progress towards recovery but this...
Persistent link: https://www.econbiz.de/10011384358
benign exit from the Eurozone with stable investor expectations could substantially dampen the short-run impact …
Persistent link: https://www.econbiz.de/10012244451
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 …
Persistent link: https://www.econbiz.de/10011942687
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 …
Persistent link: https://www.econbiz.de/10012123037
to identify over 25,000 news on the Eurozone and country-specific economic topics. Our findings emphasize the relevance …
Persistent link: https://www.econbiz.de/10014486807
How will sovereign debt markets evolve in the 21st century? We survey how the literature has responded to the eurozone …
Persistent link: https://www.econbiz.de/10012489670
We argue that if currency union member states have different potential output per capita, output growth rates, or trade balances, the common monetary policy may not be optimal for all of them. Euro area imbalances for potential output and for trade balances are quite large, while output growth...
Persistent link: https://www.econbiz.de/10011587915
This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that …
Persistent link: https://www.econbiz.de/10010533082