Negative Feedback Loop between Banks and Sovereigns in the Euro Area – Experience of the Crisis and Post-Crisis Perspective

Ewa Stawasz-Grabowska

doi:10.18778/1508-2008.23.19

Autor

Ewa Stawasz-Grabowska University of Lodz, Faculty of Economics and Sociology International Finance and Investment Department, Lodz, Poland

DOI:

https://doi.org/10.18778/1508-2008.23.19

Słowa kluczowe:

efekt zarażania, kryzys w strefie euro, aktywa bezpieczne

Abstrakt

Przebieg kryzysu w strefie euro charakteryzowało zjawisko negatywnych sprzężeń zwrotnych między sektorem bankowym a sektorem finansów publicznych. Silne zależności między tymi sektorami warunkowała m.in. dominująca rola banków w systemie finansowym UGiW, narastające nierównowagi makroekonomiczne, a także „braki” w architekturze instytucjonalnej strefy euro. W artykule przedstawiona jest geneza omawianego zjawiska w UGiW, a także istota i skala obustronnego transferu ryzyka w czasie kryzysu i w latach pokryzysowych. Dodatkowo, omówiono dotychczasowe działania w kierunku ograniczenia negatywnych sprzężeń, a także wskazano pozostające wyzwania w tym obszarze.

Pobrania

Brak dostępnych danych do wyświetlenia.

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