vehicle for the central funding of public investment through the issuance of common Euro Treasury debt securities … that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in … managing the euro crisis, but that in general the bank did “too little, too late” to prevent the euro area from slipping into …

This policy brief reviews the experience of the countries under the Euro currency, focusing on those that have been … survival of the Euro zone are complex and still far from fulfillment. While Latin America has recently experienced a similar …

significant and economically sizeable. This reflects the partial "sudden stop" to private sector capital that funded CA imbalances … increasing T2 imbalances, cross-border inter-office flows between banks belonging to the same financial institution have reduced … T2 imbalances. Flows to the banking sector that originate from private investors and non-financial firms are large in …

. Instead of acting as a buffer against external shocks and internal imbalances within the Euro area, the common currency has … the rate of monetary and financial systems integration deployed within the Euro area is not sustainable in the long run … acted as a driver, firstly, of some imbalances that prompted the crises, and as a factor restricting economies' ability to …

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs … common currency - the euro - was at best minimal.This paper aims to show that, contrary to conventional wisdom, the crisis in … Europe is the result of an imbalance between core and noncore countries that is inherent in the euro economic model …

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs … common currency - the euro - was at best minimal. This paper aims to show that, contrary to conventional wisdom, the crisis … in Europe is the result of an imbalance between core and non-core countries that is inherent in the euro economic model …

Financial market interdependence has been at the epicenter of the crisis in the euro area. This paper tests for the … the standard contagion test of Favero and Giavazzi (2002) with a narrative approach to separate out global and euro area … shocks from country-specific shocks. Financial contagion has been widespread during the crisis in the euro area. Three …

Financial market interdependence has been at the epicenter of the crisis in the euro area. This paper tests for the … euro area shocks from country-specific shocks. Financial contagion has been widespread during the crisis in the euro area … between the core and the periphery of the euro area. Global and euro area shocks have been important drivers of sovereign bond …

global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that …

global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that …