Front Matter Page
European and Western Hemisphere Departments
Contents
1 Introduction
2 Risk Premia and Output: a Stylized Model
3 The Role of Risk Premium Shocks in the post-2008 Unemployment Surges
3.1 All Countries with Risk Premium Shocks had Unemployment Surges; and all Countries with Unemployment Surges had Risk Shocks
3.2 Risk Premium Shocks Help Explain why Countries with Similar GDP Declines had Very Different Unemployment Rate Movements
4 The Baltics 2008/2009 Crisis
4.1 The Crisis
4.2 What was Behind the Risk Premium Shocks?
5 The Euro Area Sovereign Debt Crisis
5.1 The Crisis
5.2 Fiscal Sustainability Concerns and Financing
6 Conclusion References Data Sources
References
Data Sources