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This paper examines the relationship between sovereign bond spreads, local economic activity, and global financial risk. We use secondary-market prices of dollar-denominated sovereign securities to construct yield spreads between sovereign bond yields and yields on the appropriately defined...
Persistent link: https://www.econbiz.de/10011004658
There is a consensus about the increasing exposure to disruptions in the financial system and economic uncertainty over the recent years. Despite their different implications for policy, discriminating empirically between these two sources of economic fluctuations is not an easy task because...
Persistent link: https://www.econbiz.de/10011081834
In this paper, we investigate the effect of financial conditions on price-setting behavior during the 2008-2009 financial crisis. Using confidential, individual producer prices from the Bureau of Labor Statistics, we match these prices to Compustat firm-level data and compare pricing behavior...
Persistent link: https://www.econbiz.de/10011081695