This paper is an event study focusing on the global effects of the euro debt crisis in 2010-2013. After identifying 18 … advanced and 13 emerging countries. The main effect of euro debt crisis events is a rise in global risk aversion accompanied by …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral … euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June …

) model for the United States (US) and the euro area (EA). The main features of the new open economy macro-economics (NOEM …

Through the euro area crisis, financial fragmentation across jurisdictions became a prime concern for the single … the credit intermediation chain is significant and quite heterogenous across the largest euro area countries. The … introduction of global portfolio frictions on euro area government bond holdings by international investors opens up for a larger …

The euro area experience during the financial crisis highlighted the importance of financial and sovereign risk factors … with its cross-country heterogeneity within the euro area, focusing on Germany, France, Italy, Spain, and rest-of-euro area …. We construct three stylised macro-financial scenarios as a synopsis of the euro area financial crisis and argue that the …

global output gap (the quot;global output gap hypothesisquot;) holds for the euro area. The empirical analysis uses quarterly … power for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks … should specifically react to developments in global output gaps does not seem to be justified for the euro area …

This paper presents first the estimation of a two-country DSGE model for the euro area and the rest …

We use a novel disaggregate sectoral euro area data set with a regional breakdown to investigate price changes and …