Narrow search
Showing 1 - 10 of 1,334
Cover Image
Euro Area Sovereign Risk During the Crisis
Zoli, Edda - 2009
While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainability. From this perspective, to what extent do movements in euro area sovereign...
Persistent link: https://www.econbiz.de/10012677887
Cover Image
ECB Euro Liquidity Lines
Albrizio, Silvia - 2023
Central bank liquidity lines have gained momentum since the global financial crisis as a crosscurrency liquidity … management tool. We provide a complete timeline of the ECB liquidity line announcements and study their signalling and spillback … effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX …
Persistent link: https://www.econbiz.de/10015059508
Cover Image
Macroprudential Regulation and Sector-Specific Default Risk
Belkhir, Mohamed - 2022
This paper studies the transmission of macroprudential policies across both financial and non financial sectors of the economy. It first documents that tighter macroprudential regulations implemented in Europe over the period 2008-2017 lowered default risk not only in the financial, but also in...
Persistent link: https://www.econbiz.de/10015060258
Cover Image
Government bonds and their investors : what are the facts and do they matter?
Andritzky, Jochen R. - 2012
This paper introduces a new dataset on the composition of the investor base for government securities in the G20 advanced economies and the euro area. During the last decades, investors from abroad have increased their presence in government bond markets. The financial crisis broke this trend....
Persistent link: https://www.econbiz.de/10009618531
Cover Image
Crisis Management and Resolution for a European Banking System
Giustiniani, Alessandro - 2010
This paper proposes an integrated crisis management and resolution framework for the EU's single banking market. It comprises a European Resolution Authority (ERA), armed with the mandate and the tools to deal cost-effectively with failing systemic cross-border banks, and is designed to address...
Persistent link: https://www.econbiz.de/10014409157
Cover Image
What Drives Mortgage Default Risk in Europe and the U.S.?
Gross, Marco - 2022
We present an analysis of the sensitivity of household mortgage probabilities of default (PDs) and loss given default (LGDs) on unemployment rates, house price growth, interest rates, and other drivers. A structural micro-macro simulation model is used to that end. It is anchored in the balance...
Persistent link: https://www.econbiz.de/10015060521
Cover Image
The Right Tool for the Job? Mortgage Distress and Personal Insolvency during the European Debt Crisis
Bergthaler, Wolfgang - 2023
a mortgage debt crisis, but in several cases, the legal response was based on the introduction of personal insolvency … understanding of the main considerations in resolving personal insolvency and distressed mortgage debt in the context of crises …
Persistent link: https://www.econbiz.de/10015059506
Cover Image
The Economics of Sovereign Debt, Bailouts, and the Eurozone Crisis
Gourinchas, Pierre-Olivier - 2023
during the Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … be optimal from the perspective of the creditor country, even ex-ante, if it increases the risk of immediate insolvency … bailout was to prevent an exit from the eurozone and possible contagion. Bailouts to avoid sovereign default were …
Persistent link: https://www.econbiz.de/10015059348
Cover Image
Euro Area Monetary Policy in Uncharted Waters
Stavrev, Emil - 2009
We analyze the European Central Bank's (ECB's) response to the global financial crisis. Our results suggest that even during the crisis, the core part of ECB's monetary policy transmission-from policy rates to market rates-has continued to operate, but at a decreased efficiency. We also find...
Persistent link: https://www.econbiz.de/10012677859
Cover Image
The Information Content of Money in Forecasting Euro Area Inflation
Stavrev, Emil - 2008
This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using...
Persistent link: https://www.econbiz.de/10012677626