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‘Whatever It Takes’ to Resolve the European Sovereign Debt Crisis? Bond Pricing Regime Switches and Monetary Policy Effects
Afonso, António - 2017
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...
Persistent link: https://www.econbiz.de/10012943161
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What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic
Afonso, António; Rault, Christophe - 2021
We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … revenues. While sustainability may be lacking in individual cases, fiscal policy was overall sustainable both for the EU15 …
Persistent link: https://www.econbiz.de/10013316576