variables for financial development, central bank independence, and the inflation rate preceding the cycles. These findings may …

responses in explaining the evolution of Eurozone (EZ) sovereign spreads during the first half of 2020. Focusing on daily … Eurozone CDS spreads, we adopt a multi-stage econometric approach. First, we estimate a multi-factor model for changes in EZ …

policies. From the estimation exercise, we find that a more extensive implementation of macroprudential policies would lead PHs …

This paper looks at the short history of the Eurozone through the lens of an evolutionary approach to forming new … institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … to achieve a number of design objectives, and this may continue, as long as Germany does not shirk its growing …

be more stable at a cost of inhibiting the growth of sectors depending on bank funding …