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This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...
Persistent link: https://www.econbiz.de/10012000041
This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...
Persistent link: https://www.econbiz.de/10011959310
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Europe, Latin America, Asia, and Africa. Why do such crises recur? What is it about the accumulation of bank debt that ….S. banking history, from pre-U.S. Civil War private bank notes issued during the U.S. Free Banking Era (1837-1863), followed by … the U.S. National Banking Era (1863-1914) before there was a central bank, through loan sales, securitization, and the …
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