A Flow-of-Funds Perspective on the Financial Crisis

Volume II: Macroeconomic Imbalances and Risks to Financial Stability

  • Bernhard Winkler
  • Ad van Riet
  • Peter Bull

Part of the Palgrave Studies in Economics and Banking book series (PMSEB)

Table of contents

  1. Front Matter
    Pages i-xx
  2. 1 Introduction and Overview

    1. Bernhard Winkler, Ad van Riet, Peter Bull
      Pages 1-8
  3. Flow of Funds and Macrofinancial Analysis

  4. Flow of Funds and Macroeconomic Imbalances in Europe

    1. Front Matter
      Pages 153-153
    2. Philippe de Rougemont, Bernhard Winkler
      Pages 155-198
    3. Christophe Van Nieuwenhuyze
      Pages 230-259
  5. Flow of Funds and Financial Stability

  6. Back Matter
    Pages 327-336

About this book


Based on the crisis experience, the book offers an overview of lessons for macrofinancial analysis and financial stability. It illustrates the interlinkages between the financial side and the real side of the economy and highlights the role of balance sheet variables and sectoral balance sheet positions in the evolution of the financial crisis.


economy Euro Euro area financial crisis macroeconomics stability Surveillance

Editors and affiliations

  • Bernhard Winkler
    • 1
  • Ad van Riet
    • 1
  • Peter Bull
    • 1
  1. 1.European Central BankFrankfurt am MainGermany

Bibliographic information