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including a global liquidity aggregate. The impulse responses obtained show that a positive shock to extra-euro area liquidity …
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We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...
Persistent link: https://www.econbiz.de/10009636548
Article 39b(2) of the CRA Regulation states that the European Commission shall adopt a report by end 2014 – after receiving ESMA’s technical advice – on the appropriateness of the development of a European creditworthiness assessment for sovereign debt.In its request for advice, the...
Persistent link: https://www.econbiz.de/10010392282
One of the objectives of the CRA Regulation is to increase competition in the markets for credit ratings by encouraging … issuers to use smaller credit rating agencies. To this end, Article 8d(1) of the CRA Regulation states that where issuers or … its website every year, indicating their total market share and the types of credit ratings issued. …
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importance of some non-dealer/non-bank participants belonging to the shadow banking system. …Based on a unique data set referencing exposures on single name credit default swaps (CDS) on European reference …
Persistent link: https://www.econbiz.de/10010368104
European Parliament and the Council of 21 May 2013, amending Regulation (EC) No 1060/2009 on credit rating agencies (CRA …
Persistent link: https://www.econbiz.de/10010392288