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effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX … equity prices increase by around 1.75% in euro area countries highly exposed via banking linkages to countries whose …
Persistent link: https://www.econbiz.de/10014354526
Outside of financial crises, investors have little incentive to produce private information on banks' short-term liabilities held as information-insensitive safe assets. The same does not hold true during crises. We measure daily information production using data from credit default swap spreads...
Persistent link: https://www.econbiz.de/10013243048
The paper looks into the puzzle of low household savings in three Southern European (SE3) countries – Cyprus, Greece, and Portugal. Building on the household saving drivers literature, we employ cross-country micro-level data and investigate the key saving patterns, examining their...
Persistent link: https://www.econbiz.de/10014349468
This paper aims to provide guidance to issuers of sovereign ESG bonds, with a focus on Emerging Market and Developing …
Persistent link: https://www.econbiz.de/10014350469
This paper employs two established macroeconomic models to show that fiscal policy in the euro area can help monetary … third year across the euro area would ease the policy interest rate by 30-50 basis points relative to the baseline scenario … risks. In the current context of elevated inflation in all euro area economies, the findings suggest two key takeaways …
Persistent link: https://www.econbiz.de/10014352982
We document the importance of import prices and domestic profits as a counterpart to the recent increase in euro area …
Persistent link: https://www.econbiz.de/10014353730
This paper investigates the performance of fiscal rules in resource-rich countries (RRC). Using panel data for 57 commodity exporting countries from 1976 to 2021, we find that fiscal rules: (i) reduce the procyclicality of real public expenditures with terms of trade in oil exporting countries,...
Persistent link: https://www.econbiz.de/10014354588
Housing market developments are in the spotlight in Europe. Over-stretched valuations amid tightening financial …
Persistent link: https://www.econbiz.de/10014355770
to assist losers from the creation of a single European market in 1992. However, they fall short of constituting a safety …
Persistent link: https://www.econbiz.de/10012754384
done entirely by choice, constraints imposed by cultural norms, labor market features or lack of public services …
Persistent link: https://www.econbiz.de/10012859851