Showing 1 - 10 of 1,038
between citizens from borrower and lender countries. We use new international survey data for non-experts and experts in … member countries of the euro area. The results show that non-experts from borrower and lender countries remember aspects of …
Persistent link: https://www.econbiz.de/10012415964
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
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
In this paper we analyse debt stabilization in a monetary union that features endogenous risk premia. In particular, we analyse debt stabilization in two diametrically opposed regimes. In the first regime, the "national fiscal discipline regime", financial markets impose sovereign risk premia...
Persistent link: https://www.econbiz.de/10011350136
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