Cimadomo, Jacopo; Furtuna, Oana; Giuliodori, Massimo - 2018
financial integration, but also to the activation of the European Financial Stability Facility (EFSF) and the European Stability … aftermath of the euro zone's sovereign debt crisis about 65% of these shocks were absorbed, therefore reducing consumption … Mechanism (ESM) channelling official loans to distressed euro zone economies. We also show that cross-border holdings of …