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Fiscal and monetary policy determinants of the Eurozone crisis and its resolution
Dabrowski, Marek - 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/10011430901
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Regime-dependent sovereign risk pricing during the euro crisis
Delatte, Anne-Laure; Fouquau, Julien; Portes, Richard - 2016
Previous work has documented a greater sensitivity of long-term government bond yields to fundamentals in Euro area stress countries during the euro crisis, but we know little about the driver(s) of regime-switches. Our estimates based on a panel smooth threshold regression model quantify and...
Persistent link: https://www.econbiz.de/10011974869
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Sovereign contagion in Europe : evidence from the CDS market
Manasse, Paolo; Zavalloni, Luca - 2013
This paper addresses the following questions. Is there evidence of financial contagion in the Eurozone? To what extent … matter concerning the Euro Zone. Second, differences in vulnerability to contagion within the Eurozone are even more … remarkable: the core Eurozone members become less vulnerable to EUZ contagion, possibly due to a safe-heaven effect, while …
Persistent link: https://www.econbiz.de/10011731038
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Regional integration and the euro crisis : problems and solutions
Pessoa, Argentino - 2013
Along time the European Union (EU) has been pointed as the most succeeded example of regional integration. Now, this example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It is evident that the proposed solutions for attacking...
Persistent link: https://www.econbiz.de/10011515832
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How important was contagion through banks during the European sovereign crisis?
Gonçalves, Andrei S. - 2017
We use days with tail sovereign CDS spread changes of peripheral countries to identify the effects of shocks to the cost of borrowing of these countries on stock returns of banks from other countries. We find that tail sovereign GIIPS CDS changes have an asymmetric impact in that bank stocks...
Persistent link: https://www.econbiz.de/10011963385
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The power of opinion : more evidence of a GIPS-markup in sovereign ratings during the euro crisis
Nauhaus, Steffen - 2015
the Eurozone crisis in 2009, irrespective of economic and institutional fundamentals. A subsequent analysis of the markup …
Persistent link: https://www.econbiz.de/10011317827
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Fiscal and monetary policy determinants of the Eurozone crisis and its resolution
Dąbrowski, Marek - 2012
quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also … ; Eurozone ; Maastricht Treaty ; European Central Bank ; Euro ; Fiscal union …
Persistent link: https://www.econbiz.de/10009572988
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Heading into trouble : a comparison of the Latin American crises and the Euro area's current crisis
Ramos-Francia, Manuel; Aguilar-Argaez, Ana María; … - 2014
We compare the experience of Latin American external debt crises, in particular the one in the 80s, with the current European one. We do so with the aim of shedding some light on the needed adjustment mechanisms. We argue for the need of much larger debt relief in Europe. To address the moral...
Persistent link: https://www.econbiz.de/10010402569
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The Risk of the Sovereign Debt Default : The Eurozone Crisis 2008-2013
Stamatopoulos, Theodoros V. - 2016
We investigate the relationship of the market pricing of sovereign risk to default, through CDS spreads for 16 Eurozone … discrimination between South and West Euro Area Periphery (SWEAP) and the core Eurozone, highlighting asymmetries discovered either … words, the “fragility hypothesis of the Eurozone” …
Persistent link: https://www.econbiz.de/10012976894
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The Euro Area Crisis Five Years After the Original Sin
Orphanides, Athanasios - 2015
Why did Europe fail to manage the euro area crisis and what lessons can be drawn from this failure for Europe's future? Studying the EU/IMF program that was imposed on Greece in May 2010 — the original sin of the crisis — highlights both the nature of the problem and the difficulty in...
Persistent link: https://www.econbiz.de/10013013481