Broner, Fernando; Erce, Aitor; Martin, Alberto; … - In: Journal of Monetary Economics 61 (2014) C, pp. 114-142
In 2007, countries in the euro zone periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,...
