The data consist of Auto AAA-rated ABS tranches issued from 2007 to 2012, for 9 different issuers in the automotive sector. The main source is the U.S. Securities and Exchange Commission’s EDGAR database available at https://www.sec.gov/edgar/searchedgar/companysearch.html. The Commission’s website states that “All companies, foreign and domestic, are required to file registration statements, periodic reports, and […]

There are two related issues currently on the EMU agenda: the need to strengthen the European Stability Mechanism “as a robust crisis management mechanism” (European Commission 2017a), and the need to enhance the EU’s capacity to provide risk sharing and fiscal stabilisation (Junker et al. 2015). Building on our ADEMU work “On the optimal design […]

By Thomas Cooley (chair), Charles Bean, Jean Pierre Danthine, Lars Feld, Jose Manuel Campa, Fernandez, Lucrezia Reichlin, René Smits and Thomas Sargent.