risk in the mortgage market raises the default rate and spreads to the rest of the economy, creating a recession. In our … model two shocks are well suited to replicate the subprime crisis and the Great Recession: the mortgage risk shock and the …. This policy is successful in stabilizing the mortgage market and makes all agents better off. …

in Germany, France, Spain and Italy from the year 2003 to 2018. We look for the cointegration and causality relationship …

returns of general government revenues and general government total expenditures of Greece. We have applied a Vector Error … Correction model, (VEC) a Granger causality and Johansen cointegration test to check for long – term relationship between general … general government total expenditures by using Johansen cointegration test. Finally, at the 5% significance level, we have …

Greece. Two methods are applied. Multiple regressions and vector error correction models are estimated, as also unit root …