sample covers Greece in 1989-2020 and Italy in 1989-2020. Findings - The research presented the estimation of shadow exchange …Aim/purpose - The aim of this paper is to present two cases of crises in Greece and Italy and to evaluate the shadow …

warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … crisis countries (Greece, Portugal, Ireland, Cyprus, Spain) based on over 200 past macroeconomic adjustment episodes between … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific …

. Euro adoption encouraged a capital flow bonanza from the countries which constitute the center of the eurozone, to the … countries which make up the periphery of the eurozone, where it was possible to obtain better returns, due to their less … developed financial systems. This explains the large current account surplus in the Euro centre countries (like Germany and …

locational bank statistics data from the Bank for International Settlements to examine whether quantitative easing has caused an …

accumulation; measures to strengthen bank balance sheets and capital and measures to maintain the quality of credit or to influence …