NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Credit Risk in the Euro Area

Simon Gilchrist, Benoît Mojon

NBER Working Paper No. 20041
Issued in April 2014

---- Acknowledgments ----

We are particularly grateful to Beatrice Saes-Escorbiac, Jocelyne Tanguy and Aurelie Touchais for their excellent research assistance. We also thank Viral Acharya, Marcus Brunnermeier, Christina Romer, David Romer, Richard Portes, Pierre Sicsic and participants to Banque de France, Banco de Espagna and LBS seminars and the NBER Summer Institute. The opinions expressed in the paper are those of the authors and do not reflect the views of the Banque de France or the National Bureau of Economic Research.

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