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Addressing the safety trilemma : a safe sovereign asset for the eurozone
Riet, Ad van - 2017
across countries while the junior tranche would absorb any sovereign default risk. Additional issuance of national GDP …
Persistent link: https://www.econbiz.de/10011975765
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Financial stability assessment of EU candidate and potential candidate countries : developments since 2014
Gächter, Martin; Macki, Piotr; Moder, Isabella; … - 2017
identifies two main near-term challenges applying to most of them. The first relates to credit risk, which remains substantial … foreign exchange denominated loans and deposits, which poses an indirect credit risk in the case of lending to unhedged …
Persistent link: https://www.econbiz.de/10011645431
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The broad policy toolkit for financial stability : foundations, fences, and fire doors
Lepers, Etienne; Mehigan, Caroline - 2019
The post financial crisis period has been associated with increased countercyclical use of various financial policies, including residency-based measures. This paper analyses in a single analytical framework the relative effectiveness of three types of financial policies – macroprudential...
Persistent link: https://www.econbiz.de/10012147279
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Financial intermediation, resource allocation, and macroeconomic interdependence
Ozhan, G. Kemal - 2016
This paper studies the role of the financial sector in affecting domestic resource allocation and cross-border capital flows. I develop a quantitative, two-country, macroeconomic model in which banks face endogenous and occasionally binding leverage constraints. Banks lend funds to be invested...
Persistent link: https://www.econbiz.de/10011975295
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US long term interest rates and capital flows to emerging economies
Olaberria, Eduardo - 2014
, indeed, cycles in capital flows to EMEs are linked to global conditions, including global risk aversion and long term … domestic fundamentals are more vulnerable to the risk of a classic sudden stop à la Calvo. This Working Paper relates to the …
Persistent link: https://www.econbiz.de/10010464962
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How do structural policies affect financial crisis risk? : evidence from past crises across OECD and emerging economies
Ahrend, Rudiger; Goujard, Antoine - 2012
This paper examines how structural policies can influence a country's risk of suffering financial turmoil. Using a … can affect financial stability by either shaping the financial account structure, by reducing the risk of international … financial contagion, or by directly reducing the risk of financial crises. Differentiated capital controls are found to affect …
Persistent link: https://www.econbiz.de/10009691018
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Decomposing financial (in)stability in emerging economies
Lepers, Etienne; Sánchez Serrano, Antonio - 2017
organisations. We group indicators around four poles: valuation and risk appetite, imbalances in the non-financial sector, financial …
Persistent link: https://www.econbiz.de/10011976156
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Reserve accumulation : objective or by-product?
Beaufort Wijnholds, J. A. H. de; Søndergaard, Lars - 2007
undervaluation are assessed. Attention is also paid to the composition of the reserves. The paper concludes by bringing together the …
Persistent link: https://www.econbiz.de/10011639680
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Financial stability challenges in candidate countries : managing the transition to deeper and more market-oriented financial systems
Bracke, Thierry (contributor); Geis, André (contributor);  … - Europäische Zentralbank / Expert Group on Financial … - 2008
This paper reviews financial stability challenges in the EU candidate countries Croatia, Turkey and the former Yugoslav Republic of Macedonia. It examines the fi nancial sectors in these three economies, which, while at very different stages of development and embedded in quite diverse economic...
Persistent link: https://www.econbiz.de/10011639727
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Implications of macroeconomic volatility in the Euro area
Hauzenberger, Niko; Böck, Maximilian; Pfarrhofer, Michael - 2018
In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent quantity during estimation. Only a limited number of...
Persistent link: https://www.econbiz.de/10011978764