recent crisis. On the wider economic impact of STW, we show that firms using the schemes are significantly less likely to lay …

explanatory power both for the length and the depth of the recent crisis once we control for pre-crisis macroeconomic fundamentals … depth of the crisis are the growth rates of credit and of the real effective exchange rate in the pre-crisis period and …, though to a lesser extent, GDP and inflation growth over the same period and pre-crisis foreign exchange reserves. Government …

The sovereign debt crisis in the euro area has increased the interest in early warning indicators, with the aim to … indicate the build up of fiscal stress early on and to facilitate crisis prevention by a timely counteraction of fiscal and …

We document the twin crisis that affected Spain in the mid-1860s. First, we trace back its origins to the international … crisis of 1864-66. Next, we describe the particular banking sector of Spain, characterized by the coexistence of the Bank of … Spain with multiple local banks of issue. We analyze the microeconomic behavior of each bank in response to the crisis and …

discretionary fiscal measures have increased annualized quarterly real GDP growth during the crisis by up to 1.6 percentage points …

bank to the arrival of the crisis and local default rates. We find that broad eligibility reduced significantly the …