While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy … perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with … previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are …

during the Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … bailout was to prevent an exit from the eurozone and possible contagion. Bailouts to avoid sovereign default were …

activity. We examine the linkages between the financial and real sectors in the euro area, finding that (i) bank loan supply …

We examine spillovers from ECB's TLTROs on European countries outside the euro area. Using individual banks' balance … rates and 0.4 bps reduction in lending rates of foreign subsidiaries. This underscores the need to factor euro area monetary … policies into policy settings outside the euro area …

This paper provides new estimates of Okun's unemployment-output relationship in euro area countries between 1979 and … characterise the literature and that the responsiveness of output to unemployment is driven by idiosyncratic factors in both euro … the euro periphery, we find product market regulation as playing a major role in explaining the significance of Okun's law …