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During the global financial crisis, European banks contracted foreign claims on recipient economies sharply. This paper examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia. Identification is achieved by exploiting heterogeneity in...
Persistent link: https://www.econbiz.de/10009659761
The global financial crisis has highlighted the potential of financial conditions for influencing real economic activity. We examine the linkages between the financial and real sectors in the euro area, finding that (i) bank loan supply responds negatively to declines in bank soundness; (ii) a...
Persistent link: https://www.econbiz.de/10012677755
House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing …
Persistent link: https://www.econbiz.de/10014409059
Europe faces a well-known productivity malaise, with a large and widening aggregate productivity gap relative to the U ….S. In this paper, we provide a novel diagnosis of the firm-level roots of Europe's productivity growth slowdown through an … analysis of data covering the universe of firms in Europe and the U.S over their life cycles. Compared to their U …
Persistent link: https://www.econbiz.de/10015328045
, cross-border volatility spillovers dominate the behavior in national electricity markets in Europe-and this effect has grown … generation and strengthen energy security in Europe …
Persistent link: https://www.econbiz.de/10015328189
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10012677547
House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing …
Persistent link: https://www.econbiz.de/10012677654
identified late, solutions are much more costly. Until recently, Europe has seen only a small number of outright bank failures … of banking distress in Europe. We identify a set of indicators and thresholds that can help to distinguish sou …
Persistent link: https://www.econbiz.de/10012677700
The EU is deliberating the introduction of an explicit ""European mandate"" for financial sector supervisors to supplement national mandates. Suggestions are made on (i) the formulation of a European mandate; (ii) the policy areas to which it should apply; (iii) which institutions should be given...
Persistent link: https://www.econbiz.de/10012677706
Persistent link: https://www.econbiz.de/10012690984