that a financial crisis with its contagion within the system is caused by failures of legal, regulatory and political …Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The … crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide …

debt crisis, elections in European countries have stronger contagion effects in their own region during a global slowdown …This paper aims to quantify the political risk effect and its different economic implications in normal and crisis … over the possibility of government policies or instability brought by the election. During a crisis, however, investors …

This paper investigates and tests the role of regional exposures in financial contagion from advanced to emerging …, if economies in the same region are heavily exposed to crisis countries. Second, we test whether the same region lenders … hypotheses. First, we find that direct exposures of a country's own and the overall region's banking sectors to crisis …

(2000), we provide a model of international contagion allowing for bank bail-outs financed by distortionary taxes. In the … efficient crisis managment, ex-ante fiscal burden sharing is essential as ex-post contracts between governments do not achieve …

Financial institutions are increasingly linked internationally. As a result, financial crisis and government … intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While …

We use insights from the literature on currency crises to offer an analytical treatment of the crisis in the market for … Greek government bonds. We argue that the crisis itself and its escalating nature are very likely to be the result of: (a … fiscal guarantees, respectively occurring in November 2009 and February/March 2010. We argue that the risk of contagion to …