Should we blame the euro for widening of current account deficits in the EMU? In this paper, we employ time … of the euro. Our aim is to assess to what extent the increased current account deficits could be attributed to the single … currency and to the role of other variables, especially fiscal policy and developments of financial sector. We show that euro …

the term "financial stability", along with the major concerns about the process of introducing the euro at the time of its … during the time of the Euro's functioning. …

of largely only recently developed methods we provide an assessment of indicators of financial stability within the Euro … institutional roof - banks or non-bank (shadow) banks - under which they are conducted. Our results reveal a declining role of banks … (and a commensurate increase in non-bank banking). These structural shifts (between institutions) are coincident with …

Brunnermeier (2011) based on the CoVaR and find that size is a predictor of a bank contribution to systemic risk, but it is not the …

This paper presents a novel approach to investigate and model the network of euro area banks' large exposures within … risk of the euro area banking system based on bilateral linkages. We then develop a Contagion Mapping (CoMap) methodology … contagion which can be used to calibrate bank-specific capital and liquidity requirements and large exposures limits. We find …