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I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011959253
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011978544
Persistent link: https://www.econbiz.de/10011293364
This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives …
Persistent link: https://www.econbiz.de/10013111171
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012051172
The present study examines the impact of the current fiscal crisis in the euro area on the Greek banking system and the measures adopted to preserve its stability. It is divided into 3 Sections:(a) Section 1 contains an overview of the causes of the recent (2007-2009) international financial...
Persistent link: https://www.econbiz.de/10012993823
The present paper examines the impact of the current fiscal crisis in the euro area on the Greek banking system and the institutional, regulatory and supervisory measures adopted to preserve its stability. It is divided into 2 Sections:(a) Section 1 deals with the differentiated impact of the...
Persistent link: https://www.econbiz.de/10012978304
– Japan, Brazil, USA, Eurozone, Russia, China – have managed to overcome the consequences completely. However, the degree to … which the GFC's impact has been neutralized varies considerably, and the comparison between the eurozone and the two other … unemployment – by the fourth quarter of 2018 the unemployment rate in the eurozone was more that 3 times higher than Japan's rate …
Persistent link: https://www.econbiz.de/10012850191
policy convergence in the Eurozone after 2010 if it better examined the interdependencies between banks and sovereigns … becomes a pivotal mechanism for fiscal consolidations as the singular response to the ongoing Eurozone crisis. The implication … of our argument is that recent fiscal policy in the Eurozone cannot be adequately understood without analyzing the …
Persistent link: https://www.econbiz.de/10013088500
In European countries recently hit by a sovereign debt crisis, the share of domestic sovereign debt held by the national banking system has sharply increased, raising issues in their economic and financial resilience, as well as in policy design. This paper examines these issues by analyzing the...
Persistent link: https://www.econbiz.de/10012993780