Showing 1 - 10 of 526
with bank-level data to study the contagion potential of an exogenous shock via credit and funding risks. We find that …
Persistent link: https://www.econbiz.de/10012864120
of the initial shock …
Persistent link: https://www.econbiz.de/10013243048
notion that interconnected financial systems facilitate shock transmission …
Persistent link: https://www.econbiz.de/10012977748
other countries in the Eurozone, and how they may be addressed by policies at the European level …
Persistent link: https://www.econbiz.de/10013059093
Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise from negative income shocks, government impatience or a "sunspot"-coordinated buyers strike. We introduce a bailout agency, and characterize the...
Persistent link: https://www.econbiz.de/10012977831
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
This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area countries. Simulations on the impact of productivity...
Persistent link: https://www.econbiz.de/10013098585
The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but are incomplete. We uncover a large impact of...
Persistent link: https://www.econbiz.de/10013063950
supply-demand mismatches. While the results show that firms have passed on more than the nominal cost shock, and have fared …
Persistent link: https://www.econbiz.de/10014353730
We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption,...
Persistent link: https://www.econbiz.de/10012828237