research

The authors look at channels through which financial cycles flatter fiscal accounts. They focus on how to estimate more reliable cyclically adjusted fiscal balances to take into account the nexus between the financial cycle…

The authors assess the effectiveness of different ECB interventions in stabilizing the European financial sector following the peak of the sovereign debt crisis in 2011. Central result is that how ECB intervened mattered.…

According to the papers´ authors, an agreed framework for measuring and addressing financial imbalances is lacking. They propose a holistic approach for the financial system as a whole, and make policy proposals…