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The Pass-Through of Sovereign Risk
Bocola, Luigi - Federal Reserve Bank of Minneapolis - 2015
This paper examines the macroeconomic implications of sovereign credit risk in a business cycle model where banks are exposed to domestic government debt. The news of a future sovereign default hampers financial intermediation. First, it tightens the funding constraints of banks, reducing their...
Persistent link: https://www.econbiz.de/10011261854
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Current Sovereign Debt Crisis in Eurozone Countries
Kibritçioğlu, Aykut - Volkswirtschaftliche Fakultät, … - 2011
The sovereign debt crisis that deepened within the last three years in particular Eurozone countries makes up one of …
Persistent link: https://www.econbiz.de/10009323468
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Eurozone sovereign contagion: Evidence from the CDS market (2005–2010)
Kalbaska, A.; Gątkowski, M. - In: Journal of Economic Behavior & Organization 83 (2012) 3, pp. 657-673
the Eurozone. The adjusted correlation analysis confirms that Greece and other PIIGS (even Spain and Italy) have lower …
Persistent link: https://www.econbiz.de/10011048091
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Die Geldpolitik der EZB in der Klemme – kann mehr »Forward Guidance« helfen?
Wollmershäuser, Timo - In: Ifo Schnelldienst 66 (2013) 22, pp. 35-45
Die Geldpolitik der Europäischen Zentralbank steckt in der Klemme. Die konjunkturelle Entwicklung im Euroraum ist so unterschiedlich, dass eine weitere Senkung des einheitlichen Zinses nur wenigen Ländern gerecht werden würde. Der Beitrag diskutiert, ob die EZB im Rahmen ihrer...
Persistent link: https://www.econbiz.de/10010877388
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Zur Rolle der Finanzstabilität für die Geldpolitik
Weidmann, Jens - In: Ifo Schnelldienst 68 (2015) 07, pp. 34-42
Am 25. März 2015 war der Präsident der Deutschen Bundesbank, Jens Weidmann, im Rahmen der »Münchner Seminare« der CESifo Group und der Süddeutschen Zeitung zu Gast. Sein Vortrag zur Rolle der Finanzstabilität für die Geldpolitik ist hier dokumentiert.
Persistent link: https://www.econbiz.de/10011249561
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Fiscal and Monetary Policy Determinants of the Eurozone Crisis and its Resolution
Dabrowski, Marek - CASE-Center for Social and Economic Research - 2012
quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also …
Persistent link: https://www.econbiz.de/10010625526
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"The European Central Bank and Why Things Are the Way They Are: A Historic Monetary Policy Pivot Point and Moment of (Relative) Clarity"
Dubois, Robert - Levy Economics Institute - 2012
, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else … divergence and political and social discord across member-states. Given the scale and scope of the eurozone crisis, policy and …
Persistent link: https://www.econbiz.de/10009652087
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Eurozone Crisis
Loužek, Marek - In: Prague Economic Papers 2015 (2015) 1, pp. 88-104
The purpose of the paper is to analyse the current crisis of the eurozone. The first part explains why the eurozone is … examines the Greek crisis. The fourth part explains the inner tensions in the eurozone. The fifth part asks whether euro is … suitable for the countries of Central and East Europe. The sixth part examines the debt crisis within the eurozone. …
Persistent link: https://www.econbiz.de/10011213846
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The road towards the establishment of the European Banking Union
Papanikolaou, Nikolaos - Volkswirtschaftliche Fakultät, … - 2015
The rising delinquencies in the U.S. subprime mortgage market in 2006 and the succeeding collapse in housing prices had a considerably negative impact on the functioning of the European financial systems and the smooth operation of European economies. Indeed, in the Euro-area, what started as a...
Persistent link: https://www.econbiz.de/10011186604
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Estimating the Impact of Quantitative Easing On Credit Risk through an ARMA-GARCH Model
Albu, Lucian Liviu; Lupu, Radu; Călin, Cantemir Adrian; … - In: Journal for Economic Forecasting (2014) 3, pp. 39-50
In this paper we analyze the impact of quantitative easing policies issued by the European Central Bank, the Bank of England, the Federal Reserve and the Bank of Japan on credit risk, in nine states belonging mainly to the Central and Eastern European area. We use an ARMA-GARCH model to obtain...
Persistent link: https://www.econbiz.de/10010938018