Spillovers from the Euro Area Sovereign Debt Crisis: A Macroeconometric Model Based Analysis
AbstractThis paper analyzes past and possible future spillovers from the Euro Area Sovereign Debt Crisis, both within the Euro Area and to the rest of the world. This analysis is based on a structural macroeconometric model of the world economy, disaggregated into fifteen national economies. We find that macroeconomic and financial market spillovers have been small outside of countries with high trade or financial exposures, but that they could become large if severe financial stress were to spread beyond Greece, Ireland and Portugal.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8497.
Date of creation: Jul 2011
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Find related papers by JEL classification:
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-02 (All new papers)
- NEP-CBA-2011-08-02 (Central Banking)
- NEP-EEC-2011-08-02 (European Economics)
- NEP-MAC-2011-08-02 (Macroeconomics)
- NEP-OPM-2011-08-02 (Open Economy Macroeconomics)
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