This paper aims at investigating some of the critical issues highlighted by the sovereign debt crisis in European Union (EU) Member States (MS). The goal is twofold: 1) Quantify the increase in the risks of the EU banking systems due to haircuts of sovereign debts of some EU Member States, which...

This paper aims at investigating some of the critical issues highlighted by the sovereign debt crisis in European Union (EU) Member States (MS). The goal is twofold: 1) Quantify the increase in the risks of the EU banking systems due to haircuts of sovereign debts of some EU Member States, which...

We compute three possible measures based on the sensitivity of domestic European stock (sovereign bond) markets to global, US or European shocks. The common rationale is to measure the extent to which domestic stock (bond) market volatility incorporates external shocks, following the idea that...

The main lesson learned from the recent financial crisis is the crucial role of interconnectedness between banks as a factor that can push the effects of bank defaults to extreme levels. One bank in distress can compromise the ability to repay obligations of its creditor banks, thereby inducing...

This study investigates the characteristics of the European non-financial corporations (NFC's) bond issuers in the period 2004-2015. We find that bond issuers are significantly different from non-bond issuers; they are larger and older, and listed firms are more likely to issue bonds. Among...

The report contains a review of the literature on price based measures of financial markets integration and computes three indicators of financial integration in the EU28 equity and bond markets. Following the idea that in more integrated markets shocks transmit more easily, the common rationale...

The European Union Regulation 168/2013 [1] requires an environmental effect study to confirm the provisions (defined therein and in Regulation 134/2014 [2]) for the type approval of the Euro 5 L-category vehicles (two- or three-wheel vehicles and quadricycles, such as quads and minicars). This...

The European Union Regulation 168/2013 [1] requires an environmental effect study to confirm the provisions (defined therein and in Regulation 134/2014 [2]) for the type approval of the Euro 5 L-category vehicles (two- or three-wheel vehicles and quadricycles, such as quads and minicars). This...

European Union (EU) Regulation 168/2013 on the approval and market surveillance of two- or three-wheel vehicles and quadricycles outlines harmonised rules for the type approval of L-category vehicles1 in order to improve urban air quality. The Regulation also requires an environmental effects...

We analyse if consumption can be internationally detached from GDP domestic shocks due to cross border risk sharing mechanisms. We update the measurement of risk sharing for industrialized OECD countries and for several subsets of European ones. We use panel VAR models to capture the dynamic...