Showing 1 - 10 of 115
Well-functioning risk-sharing arrangements are essential for the shock absorbing capacity and resilience of an economy … far from equal across countries, implying that risk sharing remains an important issue. This paper discusses the different … forms and channels of risk sharing and reviews the main arguments in favour and against the development of different forms …
Persistent link: https://www.econbiz.de/10013256112
disequilibria are skyrocketing and default risk premiums and tensions within the Euro area are rising, thus jeopardizing the …
Persistent link: https://www.econbiz.de/10010304863
, but also beyond its borders. Sovereign bonds are no longer widely perceived as ‘risk-free’ assets. Even the sovereign … seen dramatic downgrades of their sovereign debt ratings so that they face soaring risk spreads and unsustainably high …
Persistent link: https://www.econbiz.de/10011689961
As shown in Sinn and Wollmershäuser (2012a), during the European balance-of-payments crisis, inter-governmental credit and Target credit granted by core-country central banks have replaced private international capital flows in financing the crisis countries' current account deficits, and even...
Persistent link: https://www.econbiz.de/10010291492
, but also beyond its borders. Sovereign bonds are no longer widely perceived as "risk-free" assets. Even the sovereign … seen dramatic downgrades of their sovereign debt ratings so that they face soaring risk spreads and unsustainably high …
Persistent link: https://www.econbiz.de/10011711793
The paper discusses the seriousness of current account imbalances in the last few decades in Europe, with a particular focus on the European Monetary Union. A closer look at the development of current accounts in European economies suggests the existence of some serious structural problems that...
Persistent link: https://www.econbiz.de/10010954395
As shown in Sinn and Wollmershäuser (2012a), during the European balance-of-payments crisis, inter-governmental credit and Target credit granted by core-country central banks have replaced private international capital flows in financing the crisis countries' current account deficits, and even...
Persistent link: https://www.econbiz.de/10010814462
This paper confronts the traditional balance-of-payments (BoP) analytical framework (with its dominant focus on the size of a given country’s current account imbalance and its external liabilities) with the contemporary realities of highly integrated international capital markets and...
Persistent link: https://www.econbiz.de/10005835824
disequilibria are skyrocketing and default risk premiums and tensions within the Euro area are rising, thus jeopardizing the …
Persistent link: https://www.econbiz.de/10008526377
disequilibria are skyrocketing and default risk premiums and tensions within the Euro area are rising, thus jeopardizing the …
Persistent link: https://www.econbiz.de/10009147960