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Are Non-Euro Area EU Countries Importing Low Inflation from the Euro Area?
Iossifov, Plamen K. - 2014
The synchronized disinflation across Europe since end-2011 raises the question of whether non-euro area EU countries … are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and …
Persistent link: https://www.econbiz.de/10013043711
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Credit Growth and Economic Recovery in Europe after the Global Financial Crisis
Antoshin, Sergei - 2018
Europe after the global financial crisis (GFC). We find that the post-GFC recoveries in Europe have been weaker than previous …
Persistent link: https://www.econbiz.de/10012929951
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Securitization and Credit Quality
Marques-Ibanez, David - 2017
Banks are usually better informed on the loans they originate than other financial intermediaries. As a result, securitized loans might be of lower credit quality than otherwise similar nonsecuritized loans. We assess the effect of securitization activity on loans' relative credit quality...
Persistent link: https://www.econbiz.de/10012966551
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US vs. Euro Area : Who Drives Cross-Border Bank Lending to EMS?
Cerutti, Eugenio - 2019
seems to have an impact mostly on Emerging Europe, reflecting the fact that cross-border lending to most other EM regions is …
Persistent link: https://www.econbiz.de/10012859870
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Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area
Tressel, Thierry - 2016
The crisis has highlighted the importance of setting up macro-prudential oversight frameworks, having effective macro-prudential instruments in place to be called upon to mitigate growing financial imbalances as needed. We develop a new approach using the euro area Bank Lending Survey to assess...
Persistent link: https://www.econbiz.de/10012996061
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Why is Productivity Growth in the Euro Area so Sluggish?
Estevão, Marcello M. - 2006
Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the … large productivity gains in the United States during the same period. This paper shows that the deceleration in labor … productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor …
Persistent link: https://www.econbiz.de/10012783087
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Investor Information and Bank Instability During the Euro Crisis
Iorgova, Silvia; Ross, Chase P. - 2021
Outside of financial crises, investors have little incentive to produce private information on banks' short-term liabilities held as information-insensitive safe assets. The same does not hold true during crises. We measure daily information production using data from credit default swap spreads...
Persistent link: https://www.econbiz.de/10013243048
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Comap : Mapping Contagion in the Euro Area Banking Sector
Covi, Giovanni - 2019
This paper presents a novel approach to investigate and model the network of euro area banks' large exposures within the global banking system. Drawing on a unique dataset, the paper documents the degree of interconnectedness and systemic risk of the euro area banking system based on bilateral...
Persistent link: https://www.econbiz.de/10012864120
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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Chan-Lau, Jorge A. - 2012
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10013098630
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Sovereign Risk and Deposit Dynamics : Evidence from Europe
Grigorian, David - 2016
the term sovereign risk. Developments in Europe since early 2010 presented new challenges for the functioning of private … shows that exposure to sovereign risk may have limited the ability of banks in Europe to attract deposits. The results are …
Persistent link: https://www.econbiz.de/10012977817