L’épineux problème d’interaction négative entre crise de la dette souveraine et crise bancaire au niveau national empêche une transmission efficace des effets de la politique monétaire unique et menace l’existence même de la zone euro. En réponse à la crise de l’euro et après...

This paper analyzes the growth effects of the Financial Services Action Plan (FSAP) of the European Commission, a set of measures and directives that aim to harmonize European financial markets. Using a panel of 25 countries and 30 industries, we find that the standard specification predicts...

The rising delinquencies in the U.S. subprime mortgage market in 2006 and the succeeding collapse in housing prices had a considerably negative impact on the functioning of the European financial systems and the smooth operation of European economies. Indeed, in the Euro-area, what started as a...

The main purpose of this study is to investigate the interaction between financial liberalization, banking crisis and economic growth by taking into consideration the role of institutions. Our sample covers ten Middle East and North African (MENA henceforth) observed during the period 1990-2013....

En este trabajo se desarrolla un modelo del impacto del riesgo climático en la oferta crediticia y se evalúan sus predicciones según datos granulares sobre incendios forestales y préstamos corporativos en España. Los hallazgos revelan una disminución significativa del crédito de las...

Volatility modelling is a key issue for the finance industry from an academic and practitioner perspective. This is understandable given the importance that volatility plays in risk management and the development of accurate risk measures in a univariate or multivariate framework. To illustrate,...

The EU’s transposition of Basel II into European law has been done through the Capital Requirements Directive (CRD). Although the Directive establishes, in general, uniform rules to set capital requirements across European countries, there are some areas where the Directive allows some...

Poco se sabe todavía sobre los factores que determinan el uso de garantías personales en comparación con las garantías reales en el marco de los préstamos bancarios a empresas, así como sobre su posterior impacto en la toma de decisiones de las empresas. Este trabajo analiza 477.209...

Los colchones de capital para las entidades de importancia sistémica (EIS) fueron diseñados para mitigar los riesgos que suponen estos bancos grandes y complejos. Mediante un modelo de datos de panel para una muestra de bancos europeos que cotizan en bolsa se demuestra que los requerimientos...

Artículo de revista ; The growth of crypto-assets in recent years, their potential use as a means of exchange or saving, and their possible risks to financial stability, arising, among other things, from their interconnections with the banking sector, have drawn the attention of national and...