During the first decade of the euro, southern countries experienced a boom-bust cycle in bank lending, non-tradable sector growth, and capital inflows. I develop a quanti[...]

This paper studies international trade and macroeconomic dynamics triggered by economic sanctions, and the associated welfare losses, in a calibrated, asymmetric, three-c[...]

How does news about future economic fundamentals affect within-country and cross-country credit allocation? How effective is unconventional policy when financial crises a[...]