Cyprus, Greece, Ireland, Portugal, and Spain, ranging from roughly 0.5% (Ireland) to a whopping 43% (Greece) of 2010 output … during the Eurozone crisis. We propose a model to analyze and understand bailouts in a monetary union, and the large observed … activity, debt-to-gdp ratio, default costs). Our model embeds a 'Southern view' of the crisis (transfers did not help) and a …

subprime crisis and the Euro Area sovereign debt crisis—have also been key drivers of the sharp rise in bank funding costs …

conditions in the CDS market. But the relative importance of these factors changes over time. While during the 2008/09 crisis … crisis. Our generalised variance decomposition analyisis does not suggest strong direct spillovers from the euro area …

the crisis, particularly in stressed markets, and that SMEs in these economies appear to be most affected by elevated …

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy …

This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone … shift away from pre-crisis standards of best funding practices competitive auctions of debt instruments with a fixed coupon … conclude that the crisis and related changes in the macroeconomic environment and investor sentiment can account …

Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by … constructing an effective crisis stress test. It combines financial markets impact studies of previous exercises with relevant case …. Pertinent concepts, issues and nuances particular to crisis stress testing are also discussed. The findings may be useful for …