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Ireland's European crisis : staying solvent in the Eurozone
McCarthy, Colm - 2012
A popular narrative amongst European policymakers is that Eurozone members facing problems in the bond market are … macroprudential measure in place at Eurozone level, and Irish adherence reflected public finances flattered by a credit …. Closer fiscal union may prove necessary if the Eurozone is to survive. To avoid future sovereign debt crises, there is also a …
Persistent link: https://www.econbiz.de/10009733137
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Banking union and the ECB as lender of last resort
Whelan, Karl - 2016
Persistent link: https://www.econbiz.de/10011515579
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How excessive is banks' maturity transformation?
Segura, Anatoli; Suárez, Javier - 2016
calibration of the model to Eurozone banking data for 2006 yields that lengthening the average maturity of wholesale debt from its …
Persistent link: https://www.econbiz.de/10011974655
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ESBies : safety in the tranches
Brunnermeier, Markus Konrad; Langfield, Sam; Pagano, Marco - 2016 - This draft: September, 2016
The euro crisis was fueled by the diabolic loop between sovereign risk and bank risk, coupled with cross-border flight-to-safety capital flows. European Safe Bonds (ESBies), a union-wide safe asset without joint liability, would help to resolve these problems. We make three contributions. First,...
Persistent link: https://www.econbiz.de/10011975194
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Asset purchases and sovereign risk premia in the euro area during the pandemic
Blotevogel, Robert; Hudecz, Gergely; Vangelista, Elisabetta - 2022
Persistent link: https://www.econbiz.de/10013384830
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Do interbank interest rates reflect the financial soundness of borrowing banks?
Bwire, Thomas; Brownbridge, Martin; Rubatsimbira, Doreen K. - 2019
Persistent link: https://www.econbiz.de/10012137736
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Equity versus bail-in debt in banking : an agency perspective
Mendicino, Caterina; Nikolov, Kalin; Suárez, Javier - 2017
We examine the optimal size and composition of banks' total loss absorbing capacity (TLAC). Optimal size is driven by the trade-off between providing liquidity services through deposits and minimizing deadweight default costs. Optimal composition (equity vs. bail-in debt) is driven by the...
Persistent link: https://www.econbiz.de/10011978192
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In search of the Euro area fiscal stance
Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016
This paper investigates the role of fiscal policies over the aggregate EMU business cycle. Previous studies, based on the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a small fraction of non-Ricardian households and,...
Persistent link: https://www.econbiz.de/10011529025
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Price level changes and the redistribution of nominal wealth across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014
We document the presence of sizable distributional effects from unexpected price level movements in the Euro Area (EA) using sectoral accounts and newly available data from the Household Finance and Consumption Survey. The EA as a whole is a net winner of unexpected price level increases, with...
Persistent link: https://www.econbiz.de/10011490481
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Overborrowing and balance of payments imbalances in a monetary union
Sy, Mouhamadou Mounirou - 2015
Persistent link: https://www.econbiz.de/10011540537