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An outline of a progressive resolution to the euro-area sovereign debt overhang : how a five-year suspension of the debt burden could overthrow austerity

Sōtēropulos, Dēmētrēs P.; Mēlios, Giannēs G.; … - 2014

The present study puts forward a plan for solving the sovereign debt crisis in the euro area (EA) in line with the … crisis. The perspective taken here favors social justice and coherence, having as its priority the social needs and the …

Persistent link: https://www.econbiz.de/10010432271

Modern Financial Repression in the Euro Area Crisis : Making High Public Debt Sustainable?

van Riet, Ad - 2019

The sharp rise in public debt-to-GDP ratios in the aftermath of the financial crisis of 2008 posed serious challenges … for fiscal policy in the euro area countries and culminated for some member states in a sovereign debt crisis. This note … examines the public policy responses to the euro area crisis through the lens of financial repression with a particular focus …

Persistent link: https://www.econbiz.de/10014116245

Dispelling the Shadow of Fiscal Dominance? Fiscal and Monetary Announcement Effects for Euro Area Sovereign Spreads in the Corona Pandemic

Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021

fiscal level – has been more crucial for the stabilization of euro sovereign bond markets in the crisis environment of the …

Persistent link: https://www.econbiz.de/10013221648

Dispelling the shadow of fiscal dominance? : fiscal and monetary announcement effects for euro area sovereign spreads in the corona pandemic

Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021 - This version: June 2021

fiscal level - has been more crucial for the stabilization of euro sovereign bond markets in the crisis environment of the …

Persistent link: https://www.econbiz.de/10012534642

The Covid-19 lesson from Sweden : don't lockdown

Andersson, Fredrik N. G.; Jonung, Lars - 2023

weeks at a time, contributing to a very severe downturn in economic activity. To mitigate the policy induced economic crisis …

Persistent link: https://www.econbiz.de/10014390569

Sovereign default risk and banks in a monetary union

Uhlig, Harald - 2013 - This revision: August 12, 2013

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...

Persistent link: https://www.econbiz.de/10009786077

Sovereign Default Risk and Banks in a Monetary Union

Uhlig, Harald - 2013

Persistent link: https://www.econbiz.de/10013076729

The Dangerous Utopia of the ECB's Cancellation of Public Debts

Pichet, Eric - 2020

Covid-19 crisis are that more than 20% of their public debt is now held by these central banks and that the balance sheet of …

Persistent link: https://www.econbiz.de/10012826475

The existential trilemma of EMU in a model of fiscal target zone

Della Posta, Pompeo; Tamborini, Roberto - 2021

The lesson of the sovereign debt crises of the 2010s, and of the outbreak of the COVID-19 pandemic is that EMU irreversibility, if not to remain a wishful statement in the founding treaties, necessitates to be completed by carefully designed ramparts for extraordinary times beside regulations...

Persistent link: https://www.econbiz.de/10012595366

Revisiting the Case for Debt Mutualization in the Euro Area : A Quantitative Exploration

Ando, Sakai; Dell'Ariccia, Giovanni; Gourinchas, … - 2023

This paper explores the feasibility of an idea proposed first by the German Council of Economic Experts in 2011 and revisited by Italian and French authorities in 2021: the one-off mutualization of some European legacy debt through the creation of a European Debt Management Agency (EDMA). The...

Persistent link: https://www.econbiz.de/10014358464