to the level of precautionary foreign reserve balances as one of its targets. We show that a currency crisis scenario can …

its crisis experience in 2008-11 in particular. We also calculate four counterfactuals: two with different exchange rate …. Overall, our model is able to fit movements of key aggregate and sectoral macroeconomic variables after the crisis by …

The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It … identification. The paper finds that euro area government bond markets were well integrated prior to the crisis, but saw a … substantialfragmentation from 2010 onward. Flight to quality was present at the height of the crisis, but has largely dissipated after the …

This article takes a Keynesian view on the evolution of the European debt crisis and the drift of political activities … established by the European Union are assessed as short-term solutions to respond to the crisis, whereas the real problem requires … completed, there is still a long way to go to overcome the crisis. …

after the Financial Crisis", incorporating the SUERF Annual Lecture, delivered by Manfred Schepers, Vice President, Finance …