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European Stability Mechanism (ESM) Research Paper Series

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Viewing: 1 - 37 of 37 papers

1.

Does Public Debt Produce a Crowding out Effect for Public Investment in the EU?

European Stability Mechanism Working Paper No. 36 (2019)
Number of pages: 46 Posted: 24 Apr 2019
Working Paper Series
Mattia Osvaldo Picarelli, Willem Vanlaer and Wim Marneffe
affiliation not provided to SSRN, Hasselt University and Hasselt University - Faculty of Applied Economics
Downloads 2
2.

Loss Aversion, Economic Sentiments and International Consumption Smoothing

European Stability Mechanism Working Paper No. 35 (2019)
Number of pages: 61 Posted: 24 Apr 2019
Working Paper Series
Daragh Clancy and Lorenzo Ricci
European Stability Mechanism and Université Libre de Bruxelles (ULB)
Downloads 1
3.

The Benevolence of Time, Sound Macroeconomic Environment and Governance Quality on the Duration of Sovereign Ratings Phases

European Stability Mechanism Working Paper No. 34 (2019)
Number of pages: 35 Posted: 24 Apr 2019
Working Paper Series
Luca Agnello, Vítor Castro and Ricardo Sousa
University of Palermo - Department of Economics, Loughborough University and European Stability Mechanism
Downloads 2
4.

The Benefits of Reducing Hold-Out Risk: Evidence from the Euro CAC Experiment, 2013-2018

European Stability Mechanism Working Paper No. 33
Number of pages: 33 Posted: 05 Dec 2018
Working Paper Series
Mattia Osvaldo Picarelli, Aitor Erce and Xu Jiang
European Stability Mechanism, European Stability Mechanism and European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 30
5.

Sovereign Credit Ratings under Fiscal Uncertainty

European Stability Mechanism Working Paper No. 32
Number of pages: 51 Posted: 21 Nov 2018
Working Paper Series
Arno Hantzsche
National Institute of Economic and Social Research
Downloads 19
6.

Risk Management for Sovereign Financing within a Debt Sustainability Framework

European Stability Mechanism Working Paper No. 31
Number of pages: 45 Posted: 17 Sep 2018 Last Revised: 17 Oct 2018
Working Paper Series
Marialena Athanasopoulou, Andrea Consiglio, Aitor Erce, Angel Gavilan Gonzalez, Edmund Moshammer and Stavros A. Zenios
European Stability Mechanism, University of Palermo - d/SEAS, European Stability Mechanism, European Stability Mechanism, European Stability Mechanism and University of Cyprus
Downloads 40
7.

Fiscal Multipliers and Foreign Holdings of Public Debt

European Stability Mechanism Working Paper No. 30
Number of pages: 76 Posted: 30 Mar 2018
Working Paper Series
Fernando Broner, Daragh Clancy, Alberto Martin and Aitor Erce
CREI, European Stability Mechanism, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and European Stability Mechanism

Multiple version iconThere are 3 versions of this paper

Downloads 75
8.

Pricing and Hedging GDP-linked Bonds in Incomplete Markets

European Stability Mechanism Working Paper No. 29
Number of pages: 31 Posted: 23 Mar 2018
Working Paper Series
Andrea Consiglio and Stavros A. Zenios
University of Palermo - d/SEAS and University of Cyprus

Multiple version iconThere are 2 versions of this paper

Downloads 26
9.

Combining Time-Variation and Mixed-Frequencies: An Analysis of Government Spending Multipliers in Italy

European Stability Mechanism Working Paper No. 7, ISBN: 978-92-95085-09-1
Number of pages: 41 Posted: 21 Mar 2018
Working Paper Series
Antonello D'Agostino and Jacopo Cimadomo
European Stability Mechanism and European Central Bank

Multiple version iconThere are 2 versions of this paper

Downloads 4
10.

European Government Bond Dynamics and Stability Policies: Taming Contagion Risks

European Stability Mechanism Working Paper No. 8
Number of pages: 25 Posted: 20 Mar 2018
Working Paper Series
Peter Schwendner, Martin Schüle, Thomas Ott and Martin Hillebrand
Zurich University of Applied Sciences, Center for Asset Management, Zurich University of Applied Sciences, Institute of Applied Simulation, Zurich University of Applied Sciences, Institute of Applied Simulation and Frankfurt University of Applied Sciences

Multiple version iconThere are 2 versions of this paper

Downloads 11
11.

Catalytic IMF? A Gross Flows Approach

European Stability Mechanism Working Paper No. 9; ISBN: 978-92-95085-15-2
Number of pages: 47 Posted: 19 Mar 2018
Working Paper Series
Aitor Erce and Daniel Riera-Crichton
European Stability Mechanism and Bates College

Multiple version iconThere are 2 versions of this paper

Downloads 7
12.

Countercyclical Capital Rules for Small Open Economies

European Stability Mechanism Working Paper No. 10; ISBN: 978-92-95085-10-7
Number of pages: 51 Posted: 19 Mar 2018
Working Paper Series
Daragh Clancy and Rossana Merola
European Stability Mechanism and International Labour Organization (ILO)
Downloads 10
13.

External Debt Composition and Domestic Credit Cycles

European Stability Mechanism Working Paper No. 28, ISBN: 978-92-95085-49-7
Number of pages: 53 Posted: 19 Mar 2018
Working Paper Series
Stefan Avdjiev, Stephan Binder and Ricardo Sousa
Bank for International Settlements (BIS), Independent and European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 23
14.

Does Exchange Rate Depreciation Have Contractionary Effects on Firm-Level Investment?

European Stability Mechanism Working Paper No. 26; ISBN 978-92-95085-47-3
Number of pages: 43 Posted: 13 Mar 2018
Working Paper Series
José María Serena and Ricardo Sousa
Bank for International Settlements (BIS) and European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 20
15.

Sovereign Ratings: An Analysis of the Degree, Changes and Source of Moody's Judgement

European Stability Mechanism Working Paper No. 27; ISBN 978-92-95085-48-0
Number of pages: 71 Posted: 13 Mar 2018
Working Paper Series
Alvise Lennkh and Edmund Moshammer
European Stability Mechanism and European Stability Mechanism
Downloads 61
16.

Financial Contagion: A New Perspective (and a New Test)

European Stability Mechanism Working Paper No. 12; ISBN 978-92-95085-19-0
Number of pages: 32 Posted: 13 Mar 2018
Working Paper Series
Matteo Cominetta
European Stability Mechanism
Downloads 31
17.

Capital Adequacy Regulations in Hungary: Did It Really Matter?

European Stability Mechanism Working Paper No. 11; ISBN 978-92-95085-18-3
Number of pages: 29 Posted: 13 Mar 2018
Working Paper Series
Dora Siklos
European Stability Mechanism
Downloads 6
18.

Firm Performance and (Foreign) Debt Financing Before and During the Crisis: Evidence from Firm-Level Data

European Stability Mechanism Working Paper No. 15
Number of pages: 43 Posted: 10 Nov 2017
Working Paper Series
Mateja Gabrijelcic, Uros Herman and Andreja Lenarcic
Bank of Slovenia, Goethe University Frankfurt, House of Finance (HoF), Graduate School of Economics, Finance and Management (GSEFM), Students and European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 21
19.

Euro Area Sovereign Ratings: An Analysis of Fundamental Criteria and Subjective Judgement

European Stability Mechanism Working Paper No. 14
Number of pages: 37 Posted: 10 Nov 2017
Working Paper Series
Antonello D'Agostino and Alvise Lennkh
European Stability Mechanism and European Stability Mechanism
Downloads 26
20.

The Global Financial Safety Net Through the Prism of G20 Summits

European Stability Mechanism Working Paper No. 13
Number of pages: 46 Posted: 10 Nov 2017
Working Paper Series
Gong Cheng
European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 20
21.

Bailouts, Moral Hazard and Banks’ Home Bias for Sovereign Debt

European Stability Mechanism Working Paper No. 16
Number of pages: 36 Posted: 04 Aug 2017
Working Paper Series
Gaetano Gaballo and Ariel Zetlin-Jones
Banque de France and University of Minnesota - Twin Cities - Department of Economics
Downloads 18
22.

International Risk Sharing in the EMU

European Stability Mechanism Working Paper No. 17
Number of pages: 36 Posted: 04 Aug 2017
Working Paper Series
Alessandro Ferrari and Anna Rogantini Picco
European University Institute - Economics Department and European University Institute
Downloads 54
23.

The Role of Fiscal Transfers in Smoothing Regional Shocks: Evidence from Existing Federations

European Stability Mechanism Working Paper No. 18
Number of pages: 35 Posted: 04 Aug 2017
Working Paper Series
Tigran Poghosyan, Abdelhak Senhadji and Carlo Cottarelli
International Monetary Fund (IMF), International Monetary Fund (IMF) - Asia and Pacific Department and International Monetary Fund (IMF)

Multiple version iconThere are 2 versions of this paper

Downloads 38
24.

Analysing Cross-Currency Basis Spreads

European Stability Mechanism Working Paper No. 25
Number of pages: 29 Posted: 18 Jul 2017
Working Paper Series
Jaroslav Baran and Jiri Witzany
European Stability Mechanism and University of Economics in Prague
Downloads 93
25.

Debt Stocks Meet Gross Financing Needs: A Flow Perspective into Sustainability

European Stability Mechanism Working Paper No. 24
Number of pages: 29 Posted: 21 Jun 2017
Working Paper Series
Carmine Gabriele, Aitor Erce, Marialena Athanasopoulou and Juan Rojas
European Stability Mechanism, European Stability Mechanism, European Stability Mechanism and European Stability Mechanism
Downloads 40
26.

Balance Sheet Effects, Foreign Reserves and Public Policies

Journal of International Money and Finance, Vol. 59, 2015, European Stability Mechanism Working Paper No. 3
Number of pages: 30 Posted: 16 Jun 2017
Accepted Paper Series
Gong Cheng
European Stability Mechanism
Downloads 18
27.

What Happened to Profitability? Shocks, Challenges and Perspectives for Euro Area Banks

European Stability Mechanism Working Paper No. 5
Number of pages: 55 Posted: 16 Jun 2017
Working Paper Series
Gong Cheng and Dirk Mevis
European Stability Mechanism and European Stability Mechanism
Downloads 28
28.

The Global Financial Safety Net through the Prism of G20 Summits

European Stability Mechanism Working Paper No. 13
Number of pages: 46 Posted: 16 Jun 2017
Working Paper Series
Gong Cheng
European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 20
29.

A Highly Efficient Regression Estimator for Skewed And/Or Heavy-Tailed Distributed Errors

European Stability Mechanism Working Paper No. 19
Number of pages: 11 Posted: 24 May 2017
Working Paper Series
Lorenzo Ricci, Vincenzo Verardi and Catherine Vermandele
Université Libre de Bruxelles (ULB), FUNDP - University of Namur. CRED and Université Libre de Bruxelles (ULB)
Downloads 46
30.

From Debt Collection to Relief Provision: 60 Years of Official Debt Restructurings Through the Paris Club

European Stability Mechanism Working Paper No. 20
Number of pages: 50 Posted: 24 May 2017
Working Paper Series
Gong Cheng, Javier Díaz-Cassou and Aitor Erce
European Stability Mechanism, Banco de España and European Stability Mechanism
Downloads 34
31.

The Macroeconomic Effects of Official Debt Restructuring: Evidence from the Paris Club

European Stability Mechanism Working Paper No. 21
Number of pages: 28 Posted: 24 May 2017
Working Paper Series
Gong Cheng, Javier Díaz-Cassou and Aitor Erce
European Stability Mechanism, Banco de España and European Stability Mechanism
Downloads 36
32.

Linking Bank Crises and Sovereign Defaults: Evidence from Emerging Markets

European Stability Mechanism Working Paper No. 22
Number of pages: 44 Posted: 24 May 2017
Working Paper Series
Irina Balteanu and Aitor Erce
Banco de España and European Stability Mechanism
Downloads 57
33.

A Comprehensive Scorecard for Assessing Sovereign Vulnerabilities

European Stability Mechanism Working Paper No. 23
Number of pages: 28 Posted: 18 May 2017
Working Paper Series
Alvise Lennkh, Edmund Moshammer and Vilem Valenta
European Stability Mechanism, European Stability Mechanism and European Stability Mechanism
Downloads 50
34.

Bailouts, Moral Hazard and Banks' Home Bias for Sovereign Debt

Banque de France Working Paper No. 594, European Stability Mechanism Research Paper No. 16
Number of pages: 36 Posted: 01 Jun 2016
Working Paper Series
Gaetano Gaballo and Ariel Zetlin-Jones
Banque de France and University of Minnesota - Twin Cities - Department of Economics
Downloads 48
35.

Balance Sheet Effects, Foreign Reserves and Public Policies

Journal of International Money and Finance, Forthcoming, European Stability Mechanism Research Paper No. 3
Posted: 05 Nov 2015
Accepted Paper Series
Gong Cheng
European Stability Mechanism
36.

European Government Bond Dynamics and Stability Policies: Taming Contagion Risks

Journal of Network Theory in Finance 1 (4), 2015, European Stability Mechanism Research Paper No. 8
Posted: 04 May 2015 Last Revised: 19 Apr 2017
Working Paper Series
Peter Schwendner, Martin Schüle, Thomas Ott and Martin Hillebrand
Zurich University of Applied Sciences, Center for Asset Management, Zurich University of Applied Sciences, Institute of Applied Simulation, Zurich University of Applied Sciences, Institute of Applied Simulation and Frankfurt University of Applied Sciences

Multiple version iconThere are 2 versions of this paper

37.

Firm Performance and (Foreign) Debt Financing before and during the Crisis: Evidence from Firm-Level Data

European Stability Mechanism Research Paper No. 15
Number of pages: 41 Posted: 11 Oct 2013 Last Revised: 19 Apr 2017
Working Paper Series
Mateja Gabrijelcic, Uros Herman and Andreja Lenarcic
Bank of Slovenia, Goethe University Frankfurt, House of Finance (HoF), Graduate School of Economics, Finance and Management (GSEFM), Students and European Stability Mechanism

Multiple version iconThere are 2 versions of this paper

Downloads 249