 | Sovereign Risk and Belief-Driven Fluctuations in the Euro Area Author/Editor: Giancarlo Corsetti, Keith Kuester, André Meier, Gernot J Mueller. Release Date:November, 2013 Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary more...
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 | Sovereign Risk, Fiscal Policy, and Macroeconomic Stability Author/Editor: Giancarlo Corsetti, Keith Kuester, André Meier, Gernot J. Mueller. Release Date:January, 2012 This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a more...
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