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This paper studies the link between sovereign risks and the fragility of the banking sector pointing to the challenges of bank rescue operations for the state.
Author: Aitor Erce | Senior Researcher at the European Stability Mechanism
Abstract:
This paper investigates how well consumer confidence predicts households future consumption expenditure.
Author: Antonello D’Agostino | Senior Economist in the Economics and Policy Strategy department
with Caterina Mendicino | European Central Bank
Abstract
This paper shows that countries can use foreign reserves to enhance their domestic economies’ resilience to potential risks from balance sheet effects.
Author: Gong Cheng | Economist and policy strategist at the European Stability Mechanism
Abstract:
This paper shows that productive government investment can improve an economy’s external competitiveness and stimulate private investment.
Author: Daragh Clancy | Senior Economist at the European Stability Mechanism
with Pascal Jacquinot | European Central Bank
and Matija Lozej | Central Bank of Ireland
Abstract:
This paper shows how multiple shocks have hit euro area bank profitability since the crisis - their effects differ by bank type and location
Author: Gong Cheng | Economist and policy strategist at the European Stability Mechanism
with Dirk Mevis | Banking sector expert at the European Stability Mechanism
Abstract:
This paper analyses how changes in transaction costs may affect the value of assets that banks use to collateralise borrowings in monetary policy operations.
Author: Rudolf Alvise Lennkh | Economist and policy strategist at the European Stability Mechanism
with Florian Walch | European Central Bank
Abstract:
This paper finds that Italian government spending shocks had a strong impact on GDP in the early 1990s and again during the most recent recession.
Author: Antonello D’Agostino | Senior Economist in the Economics and Policy Strategy department
with Jacopo Cimadomo | European Central Bank
Abstract:
This paper analyses bond yields of euro area sovereign bonds and finds that the distance between core and periphery has narrowed since the EFSF/ESM was established.
Author: Martin Hillebrand | European Stability Mechanism
with Peter Schwendner, Martin Schuele, Thomas Ott | Zurich University of Applied Sciences
Abstract:
This paper argues that the strongest channel through which the IMF stabilises a borrowing country’s financial flows is via its effect on the domestic banking system.
Author: Aitor Erce | Senior Researcher at the European Stability Mechanism
with Daniel Riera-Crichton | Bates College
Abstract: