Working papers first draft WP3

1. Estimating the time-varying magnitude cross-border spillover effects of fiscal shocks in the Euro area under alternative methodological approaches under Objective 1 [FC, LG] 2. Volatility spillovers, contagion and the dynamics of financial-asset spreads under Objective 1 [PH] 3. The role of credit default swap (CDS) markets in the interconnecting euro area financial markets and sovereign default risk under Objective 1 [RP] 4. Liquidity and sovereign-bank interlinkages under Objective 1 [WC] 5. Bank size and net lending positions in money markets under Objective 1 [HR] 6. Analysis of the potential role of ‘credit-easing’ policies to improve financial conditions in times of high when economic uncertainty under Objective 2 [RM] 7. The effects of asymmetries in regulation across countries on the build-up of macroeconomic imbalances in the EU under Objective 2 [JJ] 8. Leverage bounds for optimal regulation in the financial markets of the EU and the Banking Union under Objective 2 [RB]. 9. The role of bank transparency and strategic competition among intermediaries as determinants of financial stability under Objective 2 [JJ] 10. Revisiting the pros and cons of narrow banking in the EU under Objective 2 [RM] 11. Macro-prudential regulations as an alternative to capital controls in achieving monetary policy autonomy under Objective 2 [RP] Preliminary versions of the working paper versions will be delivered within 12 months to be discussed in workshops. The final version will be delivered within 34 months.