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The European sovereign debt crisis: What have we learned?

Roman Kräussl (), Thorsten Lehnert and Denitsa Stefanova ()

No 567, CFS Working Paper Series from Center for Financial Studies (CFS)

Abstract: This paper sets the background for the Special Issue of the Journal of Empirical Finance on the European Sovereign Debt Crisis. It identifies the channel through which risks in the financial industry leaked into the public sector. It discusses the role of the bank rescues in igniting the sovereign debt crisis and reviews approaches to detect early warning signals to anticipate the buildup of crises. It concludes with a discussion of potential implications of sovereign distress for financial markets.

Keywords: sovereign debt crisis; systemic risk; contagion; bank bail-outs; financial regulation (search for similar items in EconPapers)
JEL-codes: G01 G15 G21 G28 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba
Date: 2017
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https://www.econstor.eu/bitstream/10419/149623/1/87785405X.pdf (application/pdf)

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Journal Article: The European sovereign debt crisis: What have we learned? (2016) Downloads
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Persistent link: http://EconPapers.repec.org/RePEc:zbw:cfswop:567

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