This paper examines whether the Big Three credit rating agencies actually played as active a role in the Euro Crisis as …

pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area … countries? An SVAR analysis reveals that monetary stress has declined more in the euro area than in the euro areas’ doppelganger … euro becoming a dominant currency …

In this paper, we develop the game-theoretic electricity market model ElStorM that includes the possibility of … strategic electricity storage. We apply the model to the German electricity market and analyze different realistic and … utilization of storage capacities depends on the operator and its ability to exert market power both regarding storage and …

This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation …

After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to … sterilise its bond purchases - compensating those purchases through sales of other bonds or money market instruments to keep the …

rate (the policy spread) for the euro area and the UK during the two main phases of the financial crisis that began in late … 2007. During the crisis, the policy spread exhibited signs of volatility, owing to the breakdown in interbank market … apparent in the post-Lehman collapse phase of the crisis for the euro area as financial CDS premia rose due to possible default …

other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global … VAR, or GVAR) using quarterly data for the EMU period suggests that euro-denominated government yields are strongly linked …