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This paper assesses the extent to which fiscal transfers smooth regional shocks in three large federations: the US, Canada and Australia
Authors: Tigran Poghosyan, Abdelhak Senhadji and Carlo Cottarelli | International Monetary Fund
Paper presented at ADEMU (A Dynamic Economic and Monetary Union) conference co-organised by the ESM in May 2016
Abstract:
This paper demonstrates that the adoption of the euro has not increased the ability of Member States to smooth consumption.
Authors: Alessandro Ferrari and Anna Rogantini Picco | European University Institute, Florence
Paper presented at ADEMU (A Dynamic Economic and Monetary Union) conference co-organised by the ESM in May 2016
Abstract:
This paper shows that an increase in banks’ holdings of domestic sovereign debt decreases the ability of domestic sovereigns to successfully enact bailouts.
Authors: Gaetano Gaballo | Banque de France
Ariel Zetlin-Jones | Tepper School of Business
Paper presented at ADEMU (A Dynamic Economic and Monetary Union) conference co-organised by the ESM in May 2016
Abstract:
This paper finds that foreign debt financing improved firm performance and mitigated the adverse effects of leverage for moderately leveraged firms in Slovenia before and during the recent crisis.
Authors: Mateja Gabrijelčič | Bank of Slovenia
Uroš Herman | GSEFM, Goethe University, Frankfurt
Andreja Lenarčič | ESM
Abstract:
Interview with Klaus Regling, Managing Director, ESM
Published in Ta Nea (Greece)
3 September 2016
Interviewer: Eirini Chrysolora
Ta Nea: When will the short-term measures for debt relief be ready and do you think they will be strong enough to be to be meaningful?