‘Moral suasion’ and yield-seeking intensified sovereign debt crisis – ECB paper
Researchers use information on 226 eurozone banks
"Moral suasion" by eurozone governments and yield-seeking by banks intensified the eurozone's sovereign debt crisis, a working paper published by the European Central Bank (ECB) argues.
In Bank exposures and sovereign stress transmission, Carlo Altavilla, Marco Pagano and Saverio Simonelli use a novel data set based on monthly information from 226 eurozone banks from 2007 to 2015. They investigate the determinants of changes in banks' sovereign exposures and their effects during and after the
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