We construct a New-Keynesian E-DSGE model with energy disaggregation and financial intermediaries to show how energy-related fiscal and macroprudential policies interact in affecting the euro area macroeconomy and carbon emissions. When a shock to the price of fossil resources propagates through...

We live in peculiar times: on the one hand, many people — mainly in Western countries — enjoy an unprecedentedly high standard of living from a historical perspective. On the other hand, a considerable part of the population has a feeling that something went wrong, which is underscored by...

We study the extent to which the impact of tail risk spillovers, originating in the financial sector and affecting real-economy firms, depends on the level of cash holdings and the financial conditions of the firm. Empirical evidence on 4,320 firms located in 16 European countries, from 2003 to...

Our paper seeks to provide empirical evidence for a spatial-temporal system of (short-term) regional resilience determinants. Based on groundwork from Martin (2012) and Martin and Sunley (2015), we employ a nested hierarchy of regional and national determinants to constitute the spatial...