In the wake of financial globalization, the volatility spillovers between financial markets have
become increasingly prominent. Thus, this study focuses on three typical multi-country …

Sovereign risk surges are tightly linked to bank risk and primary deficits during crises. While
the literature documents this unconditional evidence, identification of the main channels …

Stock market bubbles arise as a joint monetary and financial phenomenon. We assess the
potential of monetary policy in mitigating the onset of bubbles by means of a Markov …

We formalize sovereign and private sector default probabilities into a monetary model in
order to test the hypothesis, which recently appeared in the literature, of whether the …

The efficacy of monetary policy intervention against stock market bubbles depends on
monetary policy shock identification. We estimate a Bayesian VAR identified with mixed zero …

In recent years, the increasing integration of the global economy has amplified the influence
of the Federal Reserve's monetary policy on global financial markets. Against this backdrop …

El estudio de los determinantes del riesgo soberano ha tenido un amplio interés en la
literatura económica y el contexto económico de la pandemia del Covid-19 ha exaltado su …