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central banks. First, we show that the forecasting performance of such models compares well with a-theoretical vector …
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Against the background of the recent housing boom and bust in countries such as Spain and Ireland, we investigate in this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this purpose, we incorporate in an otherwise standard two-region...
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This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution … excessively optimistic, and that proposals featuring the central bank as the euro’s savior through even more radical employment of … vehicle for the central funding of public investment through the issuance of common Euro Treasury debt securities. …
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