We examine the implications of the sovereign debt tensions on the Italian credit market by
estimating the effect of the 10-year BTP-Bund spread on a wide array of bank interest rates …

This paper discusses several key issues regarding the current European economic and
financial Great Crisis, which essentially is a twin sovereign debt and banking crisis. The shift …

Sovereign risk premia in several euro area countries have risen markedly since 2008,
driving up credit spreads in the private sector as well. We propose a New Keynesian model …

We test whether adverse changes to banks' market valuations during the financial and
sovereign debt crises affected firms' real decisions. Using new data linking over 5000 non …

More than three years since the outbreak of the sovereign debt crisis in the euro area the
banking systems of several countries remain exposed to the vagaries of government bond …

This paper analyses the impact of the Banking Union on European bank credit risk.
Specifically, we investigate the effect that the establishment of the Single Supervisory …

This paper examines the challenges faced by the European Central Bank since the outbreak
of the global financial crisis. From 2008 to 2014, the need to preserve the correct functioning …

This paper uses a Factor Augmented Vector Autoregressive model to assess the
macroeconomic impact of the euro-area sovereign debt crisis and the effectiveness of the …

In this paper we provide evidence that ECB's asset purchase programmes spill over into
CESEE countries contributing to easing their financial conditions, both in the short-and in the …

Italy is characterized by a large sectoral imbalance (government debt) that has generated a
pervasive country-risk premium and affected financial markets and the real economy. In this …