Banking and Debt Crises in Europe: The Dangerous Liaisons?

被引：0
作者：
Bertrand Candelon
Franz C. Palm
机构：
[1] University Maastricht School of Business and Economics,Department of Economics
[2] University Maastricht School of Business and Economics,Department of Quantitative Economics
[3] CESifo,undefined
来源：
De Economist | 2010年 / 158卷
关键词：
Banking crisis; Sovereign debt crisis; European Union; E32; F36;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
The potential mutation of the Sub-Prime banking crisis into a sovereign debt one in Euro area countries is investigated. After reviewing the criteria used to measure the debt vulnerability, the balance sheet approach is presented in order to illustrate the potential connections between these two types of crises. A graphical analysis yields evidence that at the end 2009 the probability of observing a Euro area country defaulting is less likely than six month before. Nevertheless, the serious threats, which concern Greece and Ireland, do not permit us to exclude the occurrence of a contagious, or self-fulfilling, sovereign debt or currency crises in Euro area in the future.
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页码：81 / 99
页数：18
相关论文
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