Public and private sector balance sheets are an important component to any analysis of debt sustainability. A vulnerable and indebted private sector can become

Government financial assets are increasingly recognized as playing an important role in assessing fiscal sustainability. However, very little research has been

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? Wh

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma

This paper explores how banking sector developments and characteristics influence the propagation of risks from the banking sector to sovereign debt, including