This paper shows that banks that rely heavily on short-term funding engage less in maturity transformation in an attempt to decrease their exposure to rollover risk. These banks shorten both the maturity of their portfolio of loans as well as the maturity of newly issued loans. We find that the...

This study investigated the frequency of droughts for the period September 1910 to October 2004 in mainland Portugal, based on monthly precipitation data from 144 rain gauges distributed across the country. The drought events were characterized using the standardized precipitation index (SPI)...

Regional drought modes in Portugal are identified applying the Principal Component Analysis (PCA) and Varimax rotation to the Standardized Precipitation Index (SPI) computed on various time scales using the three precipitation datasets covering the period 1950–2003: (i) The observation dataset...

This paper examines synchronization in the euro area and the role of intra-EMU trade from 1981 to 2011, focusing in particular on southern European countries. The results indicate that the intensification of synchronisation that occurred in the nineties across almost all countries could...

Little is known about how the introduction of a common currency and a single monetary policy has affected the labour cost dynamics in the Euro area. The literature has focused mainly on business cycle synchronisation. This paper analyses labour costs convergence in the Euro area since 1995,...

This paper examines the degree of trade integration and business cycle synchronisation between eight Balkan countries and the Euro area over the period 2000:1-2011:4. The main findings are that Slovenia and the Former Yugoslav Republic of Macedonia exhibit a high level of openness relative to...

The crisis in the mortgage credit market along with its repercussions in the financial system and in the real economy led us to question how credit institutions are able to analyze the issue of mortgage default. This paper aims to assess the influence of default on mortgage in Portugal as well...