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This note explores the costs and benefits of different policy options to reduce the risks associated with credit booms, drawing upon several country experiences and the findings from econometric analysis.
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of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …
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of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …
Persistent link: https://www.econbiz.de/10010675910
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Kann der Euro auf Dauer nur überleben, wenn in einer Übergangsphase flexible Kurse zwischen den Euroländern eingeführt … Griechenlands aus den Euro. Die Rückkehr zu einer früheren Währung könnte den kaum erwünschten Eindruck erwecken, das Rad der … Geschichte werde zurückgedreht. Dies würde psychologisch die Position von Griechenland kaum verbessern. Wenn der griechische Euro …
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When the global financial crisis hit the shores of Europe, after crossing the Atlantic, the Eurozone was considered a … euro's fault. As a result, some argued that Greece and eventually other bailed-out member states should abandon the euro … up on supporting them financially, forcing them to abandon the euro anyway. Yet, no such thing has happened. The euro and …
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This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...
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Successful implementation of macroprudential policy is contingent on the ability to identify and estimate systemic risk in real time. In this paper, systemic risk is defined as the conditional probability of a systemic banking crisis and this conditional probability is modeled in a fixed effect...
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