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Financial contagion reloaded: the case of Cyprus
Oehler-Sincai, Iulia Monica - Volkswirtschaftliche Fakultät, … - 2013
-dip recession of the Cypriot economy. We analyze determinants such as “tax haven” status, interlinks with the Greek economy … reform of 2002 and the new fiscal system in force since the 1st of January 2003, Cyprus continued to be a “tax haven”. Its … high investment attractiveness spurred the “Cyp-Rus” relations, boosted an outsized banking sector (representing 800% of …
Persistent link: https://www.econbiz.de/10011257733
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Europe needs more than a Capital Markets Union : focus on the integration of euro area sovereign debt markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012051172
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Domestic Cycles, Financial Cycles, and Policies. What Has Gone Wrong?
Daianu, Daniel - 2017
The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized...
Persistent link: https://www.econbiz.de/10012942853
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Domestic cycles, financial cycles, and policies : what has gone wrong?
Dăianu, Daniel - 2017
The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized...
Persistent link: https://www.econbiz.de/10011760593
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Is the ‘Euro Bond’ the Answer to the Euro Sovereign Debt Crisis? What Outcome Can Investors Expect Out of Europe?
Matziorinis, Kenneth N. - 2012
This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives confronting euro area governments. It suggests that pooling fiscal risks, creating an EU Treasury and issuing jointly-backed euro bonds is an optimal solution and the inevitable...
Persistent link: https://www.econbiz.de/10013111171
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Redrawing the Map of Global Capital Flows : The Role of Cross-Border Financing and Tax Havens
Coppola, Antonio - 2020
Global firms finance themselves through foreign subsidiaries, often shell companies in tax havens, which obscures their nationality in aggregate statistics. We associate the universe of traded securities with their issuer's ultimate parent and restate bilateral investment positions to better...
Persistent link: https://www.econbiz.de/10012843191
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Redrawing the Map of Global Capital Flows : The Role of Cross-Border Financing and Tax Havens
Coppola, Antonio; Maggiori, Matteo; Neiman, Brent; … - 2020
Global firms finance themselves through foreign subsidiaries, often shell companies in tax havens, which obscures their true economic location in official statistics. We associate the universe of traded securities issued by firms in tax havens with their issuer’s ultimate parent and restate...
Persistent link: https://www.econbiz.de/10014351933
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Domestic Banks as Lightning Rods? Home Bias During the Eurozone Crisis
Saka, Orkun - 2017
Governments and domestic banks in Europe have attracted criticism due to the heightening inclination of banks to hold more local sovereign debt in the midst of the crisis. This has traditionally been interpreted as an evidence of financial repression or moral suasion. By using a novel dataset on...
Persistent link: https://www.econbiz.de/10012962855
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Domestic Banks as Lightning Rods? Home Bias During the Eurozone Crisis
Saka, Orkun - 2018
European banks have been criticized for holding excessive domestic government debt during economic downturns, which has been interpreted as indicative evidence of moral suasion. By using a novel bank-level dataset covering the entire timeline of the eurozone crisis, I first re-confirm that the...
Persistent link: https://www.econbiz.de/10012917891
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Domestic banks as lightning rods? : home bias and information during the Eurozone Crisis
Saka, Orkun - 2019 - This Draft: September, 2019
European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I...
Persistent link: https://www.econbiz.de/10012123037