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Euro Area Sovereign Risk Spillovers Before and after the Ecb's OMT Announcement
Gilbert, Niels D. - 2019
eliminating equilibrium multiplicity, has largely stopped contagion …
Persistent link: https://www.econbiz.de/10012870566
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Macro-Networks : An Application to the Euro Area Financial Accounts
Castren, Olli - 2013
analysis suggests that the risk of contagion is not reduced, while a more diversified portfolio of cross-border exposures might …
Persistent link: https://www.econbiz.de/10013087568
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An Update on EMU Sovereign Yield Spread Drivers in Times of Crisis : A Panel Data Analysis
Gómez-Puig, Marta - 2014
We empirically investigate the determinants of EMU sovereign bond yield spreads with respect to the German bund. Using panel data techniques, we examine the role of a wide set of potential drivers. To our knowledge, this paper presents one of the most exhaustive compilations of the variables...
Persistent link: https://www.econbiz.de/10013057493
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ECB Policy and Eurozone Fragility : Was De Grauwe Right?
Saka, Orkun - 2015
Paul De Grauwe's Eurozone fragility hypothesis states that sovereign debt markets in a monetary union without a lender-of-last-resort are vulnerable to self-fulfilling dynamics fuelled by pessimistic investor sentiment that can trigger default. We test this contention by applying an eclectic...
Persistent link: https://www.econbiz.de/10013033315
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The Impact of the Euro on Money and Bond Markets
Santillan Fraile, Javier; Bayle, Marc; Thygesen, Christian - 2021
The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction of the euro. Significant development in terms of integration took place in both markets in general to a various degree for the different segments. However, there remain room for...
Persistent link: https://www.econbiz.de/10013318465
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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009
financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of … that a financial crisis with its contagion within the system is caused by failures of legal, regulatory and political … crises would be reduced if appropriate institutions could be put in place Lacking appropriate institutions to avoid contagion …
Persistent link: https://www.econbiz.de/10010320249
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The European Central Bank and why things are the way they are : a historic monetary policy pivot point and moment of (relative) clarity
Dubois, Robert - 2012
Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...
Persistent link: https://www.econbiz.de/10009503821
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The SSM at 1
Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011557140
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Macroprudential Policy in a Monetary Union with Cross-Border Banking
Darracq Paries, Matthieu - 2019
We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area countries (i.e. Germany, France, Italy, and Spain),...
Persistent link: https://www.econbiz.de/10012889411
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Financial Deepening Dynamics and Implication for Financial Policy Coordination in a Monetary Union : The Case of WAEMU
Nguena, Christian-Lambert - 2014
This article aims to investigate the implication of financial deepening dynamics for financial policy coordination in the WAEMU sub-region. For this purpose we adopted a hypothetical-deductive theoretical approach and an empirical investigation in both static and dynamic panel data econometrics...
Persistent link: https://www.econbiz.de/10013044871