certain asset classes since the onset of the crisis, notably the sovereign bonds of stressed euro area countries. These … sovereign debt crisis …

crisis times …

crisis (over the years from 2010 to 2015). We estimate a fiscal reaction function for the Euro area countries and demonstrate … whose structural deficits will diminish whatever the “exit crisis” scenario envisaged, whereas on the other side, others …

the global leverage cycle. Using granular data on banks located in France, the paper shows that the pre-crisis … international diversification of banks increased leverage procyclicality during the 2008-2009 crisis. Focusing on the currency … risk due to the crisis and the risk channel. These findings draw attention to the specific role of balance sheet currency …

In the aftermath of the crisis, sovereign risk premium differentials have been increasingly widening. Although the …

expected changes in debt/GDP ratios of the respective countries. Our model explains spreads both before and during the crisis …